US Black Debt Hole: 'We want you all bankrupt!'

There is no possibility of agreement at the upcoming G20 summit because the US is declaring financial war on other countries, believes American economist Michael Hudson. The US has been pushing China to revalue its currency -- at a time when Washington has been pumping billions of dollars into its economy -- a move viewed by other countries as an attempt to deliberately weaken the greenback. The issue of exchange rates is expected to be one of the toughest discussion points at the G20 summit in South Korea later this week. Michael Hudson, a renowned economist and Wall Street financial analyst and advisor, says the meeting in Seoul will not bring an end to global currency wars. "The US is going to China and saying 'we want you to commit economic suicide just like Japan did. We want you to follow the same way: we want you to re-value your currency, we want you to squeeze your companies, we want you to go bankrupt so we can make our profit at your expense," says Hudson. RT on Facebook: www.facebook.com RT on Twitter: twitter.com
Author: RussiaToday
Duration: 10:55



Photos for video
US Black Debt Hole: 'We want you all bankrupt!'