De-Dollarizing the American Financial Empire
Guest: Michael Hudson
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.