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Michael Hudson: American foreign policy remains as focused on oil as it was when it invaded Iraq. U.S. policy is to treat Venezuela as an extension of the U.S. economy, running a trade surplus in oil to spend in the United States or transfer its savings to U.S. banks. By imposing sanctions that prevent Venezuela from gaining access to its U.S. bank deposits and the assets of its state-owned Citco, the United States is making it impossible for Venezuela to pay its foreign debt. This is forcing it into default, which U.S. diplomats hope to use as an excuse to foreclose on Venezuela's oil resources and seize its foreign assets. Just as U.S. policy under Kissinger was to make Chile's "economy scream," so the U.S. is following the same path against Venezuela. It is using that country as a "demonstration effect" to warn other countries not to act in their self-interest in any way that prevents their economic surplus from being siphoned off by U.S. investors. wordsmith.social/protestation/…