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Debt Is a Weapon for Taking Your Things Away

The treasured University of Missouri, Kansas City economics professor Michael Hudson explains to RT how debt is currently being used “as a means of foreclosing on property and transferring” it “from the debtor to the creditor.”

“That’s how almost all of the wealthy oligarchies in every country of the world in history got rich,” he says. “By making a loan and then foreclosing on the assets and then impoverishing the other people. And that’s the business plan we have today.”

Hudson begins at the 5-minute mark.

BoomBust:

— Posted by Alexander Reed Kelly.

Alexander Reed Kelly
Associate Editor
In December 2010, Alex was arrested for civil disobedience outside the White House alongside Truthdig columnist Chris Hedges, Pentagon whistle-blower Daniel Ellsberg, healthcare activist Margaret Flowers and…
Alexander Reed Kelly

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