The Superpower And New Economic War





WHAT THE SUPERPOWER'S
DECLARATION OF WORLD $LAVERY
MEANS


Since the Renaissance, however, bankers have shifted their political support to democracies. This did not reflect egalitarian or liberal political convictions as such, but rather a desire for better security for their loans. As James Steuart explained in 1767, royal borrowings remained private affairs rather than truly public debts. For a sovereign’s debts to become binding upon the entire nation, elected representatives had to enact the taxes to pay their interest charges.



By giving taxpayers this voice in government, the Dutch and British democracies provided creditors with much safer claims for payment than did kings and princes whose debts died with them. But the recent debt protests from Iceland to Greece and Spain suggest that creditors are shifting their support away from democracies. They are demanding fiscal austerity and even privatization sell-offs.



This is turning international finance into a new mode of warfare. Its objective is the same as military conquest in times past: to appropriate land and mineral resources, also communal infrastructure and extract tribute. In response, democracies are demanding referendums over whether to pay creditors by selling off the public domain and raising taxes to impose unemployment, falling wages and economic depression.



The alternative is to write down debts or even annul them, and to re-assert regulatory control over the financial sector.



from:



Hammurabi Knew Better


Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped


by MICHAEL HUDSON


Weekend Edition
December 2-4, 2011


http://www.counterpunch.org/2011/12/02/debt-slavery-%e2%80%93-why-it-destroyed-rome-why-it-will-destroy-us-unless-it%e2%80%99s-stopped/



Jer


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Relevant Pages

  • The Superpower And New Economic War
    ... The alternative is to write down debts or even annul them, and to re-assert regulatory control over the financial sector. ... Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped ...
    (soc.culture.usa)
  • The Superpower And New Economic War
    ... The alternative is to write down debts or even annul them, and to re-assert regulatory control over the financial sector. ... Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped ...
    (soc.rights.human)
  • Parasitic Finance: Michael Hudson Interview Transcript
    ... The only way to do it is to wipe out the debts that can't be ... So why aren't Governments doing that, writing off the debts, or allowing ... They've said, "We don't care about the economy, we're bailing ... You can think of the financial sector as being ...
    (sci.econ)