De-Dollarizing the American Financial Empire
Guest: Michael Hudson

Economist Michael Hudson continues his discussion of Super Imperialism:
The Economic Strategy of American Empire with a focus on US monetary
imperialism; President Trump’s demand for lower interest rates undercuts
America’s requirement for foreign investment to fund its domestic and
balance of payments deficit, increases the carry trade and turns IMF and
World Bank policies on the US; analysis of US economic domination of
the world from its position as the world’s largest creditor post-WWI;
analysis of US economic domination of the world from its position as the
world’s largest debtor after the 1971 close of America’s gold window;
emergence of the dollar-debt standard; how war has bankrupted the US;
the difference between imperialism and super imperialism; US bribes
foreign governments; China’s banking system; China and Russia stockpile
gold as the world breaks out of dollar domination.

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3 Comments
Two comments: - the euros problem of not being competitive with the US dollar was the result of political expediency - member countries debt was never consolidated. It would be like the US not having US treasuries, and only having state debt to offer. - the problem is not privatization, which is the result of govt largess / corruption. The problem is corrupt govt not enforcing EXISTING laws, and people believing that the solution is making govt bigger. Capital flows from public to private will continue and accelerate because govts are killing their economies in their hunt for taxes, fees, penalties, and civil asset forfeitures. Owning private assets with real collateral is much safer than govt debt that is backed by nothing. Besides, why would anyone want to make the most inefficient entity (govt) a middleman for anything?
Thank you for keeping the show going, Bonnie. Your show was my favorite on KPFA.
More content PLEASE Bonnie, the world needs your voice. Thank you for all of the knowledge and for opening my mind. PS I second Don Scott%u2019s comment.