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4 Jun, 2010 09:14

US Treasury slips into the red announcing $13 trillion debt

The US government has poured $10 trillion into Wall Street in various forms of loans and purchases. So actually the public debt is quite small compared to what the US did to Wall Street, author Les Leopold told RT.

But that is not the issue, the author of the book “The Looting of America” says, claiming it is just a smokescreen for much bigger issues.

“There is a battle going on [at] a global level between sovereignty of the nation state and international community. It’s a very serious battle about economic policies are going to be set. Is it going to be set to please the markets or is it going to be set to please the needs of people of these various countries? And that is being played out right now.”