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Peter Scott, RT anchor: Joining us now is Michael Hudson, economist and author of "Super-Imperialism" and the recently-published "Destiny of Civilization”. Welcome to the programme, Michael. Michael Hudson: It’s good to be back. PS: Let’s say all these European programmes like the REPOWER Programme come into effect, how do you expect the EU standing to... Read More
BENJAMIN NORTON: Hey, everyone. I’m Ben Norton, and this is the Multipolarista podcast. And I have the great pleasure of being joined today by one of my favorite guests, one of I think the most important economists in the world today. I’m speaking with Professor Michael Hudson. If you’ve seen any of the interviews I’ve... Read More
Leading Russian economist Sergey Glazyev says a complete overhaul of the western-dominated global monetary and financial system is under works. And the world\
Sergey Glazyev is a man living right in the eye of our current geopolitical and geoeconomic hurricane. One of the most influential economists in the world, a member of the Russian Academy of Sciences, and a former adviser to the Kremlin from 2012 to 2019, for the past three years he has helmed Moscow’s uber... Read More
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It is now clear that today’s escalation of the New Cold War was planned over a year ago, with serious strategy associated with America’s plan to block Nord Stream 2 as part of its aim of blocking Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia. As President Biden... Read More
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Russia Is Following the American Playbook
No country has successfully challenged the U.S. dollar’s global hegemony—until now. How did this happen and what will it mean? Foreign critics have long chafed at the “exorbitant privilege” of the U.S. dollar as global reserve currency. The U.S. can issue this currency backed by nothing but the “full faith and credit of the United... Read More
Saddam, Gaddafi, Iran, Venezuela – they all tried but couldn’t do it. But Russia is on a different level altogether. The beauty of the game-changing, gas-for-rubles, geoeconomic jujitsu applied by Moscow is its stark simplicity. Russian President Vladimir Putin’s presidential decree on new payment terms for energy products, predictably, was misunderstood by the collective west.... Read More
1) Help FFWN expose who really runs the world! Ukraine War: Who Did What When Why? 2) Evidence that the US imperialists “predicted” Russia’s invasion of Ukraine months before it happened 3) US Dollar Hegemony Ended Abruptly Last Wednesday Succeeding Wildly 4) “Russia is Succeeding Wildly in its Objectives!” Scott Ritter on the War in... Read More
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A new reality is being formed: the unipolar world is irrevocably becoming a thing of the past, a multipolar one is taking shape It was something to behold. Dmitri Medvedev, former Russian President, unrepentant Atlanticist, current deputy chairman of the Russian Security Council, decided to go totally unplugged in an outburst matching the combat star... Read More
The idiot Biden Regime’s sanctions have turned out to be a great gift to Russia while driving up inflation in the US and its empire, forcing Washington to remove some of the sanctions. The sanctions have created a great opportunity for import substitution in Russia. Russian investment in the Russian economy prevents foreign ownership from... Read More
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Interview with Margaret Flowers, Clearing the Fog
Margaret Flowers: You're listening to Clearing the FOG, speaking truth to expose the forces of greed, with Margaret Flowers. And now I turn to my guest, Michael Hudson. Michael is the president of the Institute for the Study of Long-term, Economic Trends, ISLET. He's a Wall Street financial analyst and a distinguished research professor of... Read More
Conversations with Scott Ritter and Michael Hudson
TRANSCRIPT GR (Michael Welch): Great privilege to speak with you again Mr. Hudson. Welcome! Michael Hudson: Thanks for having me on! GR: Now, We’re seeing NATO unifying together behind the US call to sanction Russia, including removal from the SWIFT system. They’re being hit with sanctions to hurt, sanctions from hell as President Biden would... Read More
Gold ruble, Ukraine military collapse
Lots of startling changes yesterday. Russia announced, apparently, a gold-backed or gold-related ruble. I haven’t had time to think about all the implications. Information is hard to come by, because the US blocks Russian news in order to control the Ukraine narrative and war propaganda. The Bretton Woods system collapsed when the West seized Russian... Read More
Joe Lauria Welcome to CNLive! Season Four Episode Five: “Ukraine The Economic Fallout.” I’m Joe Lauria, editor in chief of Consortium News. Elizabeth Vos And I’m Elizabeth Vos. Joe Lauria The collective west, led by the United States, declared economic war against Russia last month in response to the invasion of Ukraine, imposing perhaps the... Read More
Unfortunately, the sanctions the US put on Russia do not appear to be harming Russia at all, even as they are furthering the destruction of the economy of the West, and setting the stage for a collapse of the dollar as reserve currency. Russia has just announced that if Europe wants its oil, they’re going... Read More
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I don’t think you people understand how big of a deal all this economic stuff that is happening actually is. It’s very difficult even for me to watch it all playing out in real time. Basically, the whole world had agreed to a US-run financial system that was outside of the realm of politics. Then,... Read More
Putin is catching on
Putin Orders Ruble Payments for Energy But he has a way to go When will Putin realize that Russian default on loans is the proper response to the seizure of Russian assets? Russia would have to be extremely foolish to borrow another cent from the West. Therefore, why protect access to foreign borrowing by continuing... Read More
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Ross [00:00:29] Welcome to Renegade Inc. Whatever the outcome in Ukraine, one thing is for sure the economic reverberations will be felt by everyone for years to come as the world divides between the West and a rapidly reshaping Eurasia. Ross [00:00:49] Michael Hudson, always a pleasure to have you on the programme, welcome to... Read More
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The United States, which is now officially a rogue state, acting out to inflict terror on the entire world in the name of supporting a fake war they cannot hope to win, has begun more aggressively lashing out against the rest of the world. The current US Administration appears to be confused as to why... Read More
This is the top story when you look for what the mainstream media is saying about reports that Saudi Arabia is considering selling oil to China in yuan – from the financial geniuses at Bloomberg: I’m not a racist or anything, but I did have to chuckle a bit when I clicked that headline and... Read More
Farewell to Inordinate Privilege
In 2009, after helping to rescue the US from the GFC, Zhou Xiaochuan, Governor of the Peoples Bank of China, said, "The world needs an international reserve currency that is disconnected from individual nations and able to remain stable in the long run, removing the inherent deficiencies caused by using credit-based national currencies.” After helping... Read More
Russia says half its gold assets were frozen - is this for real or a slick play by Moscow?
It was a long time coming, but finally some key lineaments of the multipolar world’s new foundations are being revealed. On Friday, after a videoconference meeting, the Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system. The EAEU consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and... Read More
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Update: Nailed it. Less than two hours after I said the thing, the media confirmed the thing. Original article follows. Again: it is impossible for any normal person to understand the implications of what is happening right now. Even I’m having a hard time processing it all, and I’m pretty good at processing deranged lunacy.... Read More
I know it’s difficult to keep track of all of these different sanctions that the US is putting on Russia. But this is a new one which is intended to make it impossible for them to trade oil, or for citizens to use dollars for other forms of trade. This is something that has never... Read More
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But nobody thought that it would happen this fast
Empires often follow the course of a Greek tragedy, bringing about precisely the fate that they sought to avoid. That certainly is the case with the American Empire as it dismantles itself in not-so-slow motion. The basic assumption of economic and diplomatic forecasting is that every country will act in its own self-interest. Such reasoning... Read More
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Only self-sufficiency affords total independence. And the Big Picture has also been keenly understood by the Global South. One of the key underlying themes of the Russia/Ukraine/NATO matrix is that the Empire of Lies (copyright Putin) has been rattled to the core by the combined ability of Russian hypersonic missiles and a defensive shield capable... Read More
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So a congregation of NATO’s top brass ensconced in their echo chambers target the Russian Central Bank with sanctions and expect what? Cookies? What they got instead was Russia’s deterrence forces bumped up to “a special regime of duty” – which means the Northern and Pacific fleets, the Long-Range Aviation Command, strategic bombers and the... Read More
Russian President Vladimir Putin and Chinese President Xi Jinping\
Vladimir Putin got straight to the point. At the opening of his one hour and fourteen minute video conversation with Xi Jinping on 15 December, he described Russia-China relations as “an example of genuine inter-state cooperation in the 21st century.” Their myriad levels of cooperation have been known for years now – from trade, oil... Read More
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Michael Hudson Interviewed on Kevin Barrett’s Truth Jihad Radio, 11/15/21 Kevin Barrett: Welcome to Truth Jihad Radio, the radio show that wages the all-out struggle for truth by uncovering all sorts of interesting facts and perspectives that are normally banned, covered up, obscured, spun or otherwise messed with in the corporate controlled mainstream. Today we’re... Read More
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Creditocracy: A Geopolitical Economy
As President Biden continues his predecessor’s New Cold War on China, it is clear that the pandemic has vastly accelerated the on-gong shift in the international balance of power, away from the US and towards China. For former US Treasury Secretary, Lawrence Summers, it was likely a ‘hinge of history’: ‘[i]f the 21st century turns... Read More
It’s impossible to understand the finer points of what’s happening on the ground in Russia and across Eurasia, business-wise, without following the annual St. Petersburg International Economic Forum (SPIEF). So let’s cut to the chase, and offer a few choice examples of what is discussed on top panels. The Russian Far East - Here’s a... Read More
In this wide-ranging discussion on the Moderate Rebels podcast, Hudson addresses US sanctions on Venezuela and Iran, the policies of the Joe Biden administration, Beijing’s economic model, cryptocurrencies, and dedollarization – the potential end to the dollar as the global reserve currency. TRANSCRIPT Ben Norton 0:03 Hello everyone, I’m Ben Norton. You’re watching Moderate Rebels.... Read More
TRANSCRIPT Ibrahima: [00:00:00] Good morning or good evening, depending on where you are located and welcome to the Henry George School. My name is Ibrahima Drame and I'm the director of education. It's a great honor to have you with us today for another joint webinar co-organized with the International Union for Land Value Taxation... Read More
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Questions for My Betters
China is now vigorously testing a digital yuan and threatens to have it ready for prime time for the 2022 Winter Olympics. This seems, to me anyway, important. It will be a real, workaday yuan, not a speculative cryptocurrency like Bitcoin. It will use a digital wallet via a cellphone app, and will not require... Read More
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Can we cut the faux Outrage over ‘The Fed’ and the evil ‘One Percenters’ and focus on illicit Counterfeiting and...
With the national debt reaching absurd heights and personal home/auto/college/credit card debt sucking the joy out of life, it’s long overdue for a fresh look at this ancient topic. If your understanding of financial matters is informed by mainstream news and/or subsidized academics, I’m guessing you may have missed some key points—since both groups love... Read More
In mid-April, the US Federal Reserve began "swapping" $500 billion dollars with banks around the world. The almighty dollar is virtually the only chip you can use in the international capitalist casino. Globally, non-American banks hold $12.4 trillion dollars, which they loan out to other non-American entities for loans, to pay debts, or to conduct... Read More
A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration - RC14C5905790
A new, radical paradigm shift is in progress. The U.S. economy may shrink as much as 40% in the first semester of 2020. China, already the world’s largest economy by PPP for a few years now, may soon become the world’s largest economy even in exchange rate terms. The post-Planet Lockdown world – still a... Read More
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How the US Makes Countries Pay for Its Wars
Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own military occupation. Max Blumenthal and Ben Norton discuss the economics of Washington’s empire, the role of the IMF and World Bank, attempts to create alternative financial systems like... Read More
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The Saker: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Soleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc? Michael Hudson: Of course American strategists will deny that the recent actions do... Read More
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The mainstream media are carefully sidestepping the method behind America’s seeming madness in assassinating Islamic Revolutionary Guard general Qassim Suleimani to start the New Year. The logic behind the assassination this was a long-standing application of U.S. global policy, not just a personality quirk of Donald Trump’s impulsive action. His assassination of Iranian military leader... Read More
My book “Super Imperialism” was about how the United States has gained a free lunch by establishing the dollar as international reserve currency by replacing gold. I also showed that the U.S. balance of payments deficit is almost entirely military related to support its 800 bases around the world. Ending the gold-exchange standard in 1971... Read More
After years of being kept in the doldrums by orchestrated short selling described on this website by Roberts and Kranzler, gold has lately moved up sharply reaching $1,510 this morning. The gold price has continued to rise despite the continuing practice of dumping large volumes of naked contracts in the futures market. The gold price... Read More
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Today’s world is at war on many fronts. The rules of international law and order put in place toward the end of World War II are being broken by U.S. foreign policy escalating its confrontation with countries that refrain from giving its companies control of their economic surpluses. Countries that do not give the United... Read More
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I’m Bonnie Faulkner. Today on Guns and Butter, Dr. Michael Hudson. Today’s show: De-Dollarizing the American Financial Empire. Dr. Hudson is a financial economist and historian. He is President of the Institute for the Study of Long-Term Economic Trend, a Wall Street Financial Analyst and Distinguished Research Professor of Economics at the University of Missouri,... Read More
The Saker: Could you summarize the state of Venezuela’s economy when Chavez came to power? Michael Hudson: Venezuela was an oil monoculture. Its export revenue was spent largely on importing food and other necessities that it could have produced at home. Its trade was largely with the United States. So despite its oil wealth, it... Read More
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The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America. Just as the Vietnam War drove the United States off gold by 1971, its sponsorship and funding of violent regime change wars... Read More
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The word 'catastrophe' has several meanings, but in its original meaning in Greek the word means a "sudden downturn" (in Greek katastrophē ‘overturning, sudden turn,’ from kata- ‘down’ + strophē ‘turning’). As for the word "superpower" it also has several possible definitions, but my preferred one is this one "Superpower is a term used to... Read More
Beijing to set up oil-futures trading in the yuan which will be fully convertible into gold on the Shanghai and Hong...
Petrodollars have dominated the global energy markets for more than 40 years. But now, China is looking to change that by replacing the word dollars for yuan. Nations, of course, have tried this before since the system was set up by former US Secretary of State Henry Kissinger in tandem with the House of Saud... Read More
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Introduction to the German Edition
In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War I is that the United States has... Read More
Readers at home and around the world want to know what to make of the announcement that China henceforth will conduct oil purchases and sales in gold-backed Chinese currency. Is this an attack by Russia and China on the US dollar? Will the dollar weaken and collapse from being discarded as the currency in which... Read More
While much of the world focused last week on whether or not the Federal Reserve was going to raise interest rates, or whether the Greek debt crisis would bring Europe to a crisis, the Permanent Court of Arbitration in The Hague awarded a $50 billion judgment to shareholders of the former oil company Yukos in... Read More
PastClassics
Analyzing the History of a Controversial Movement
The Shaping Event of Our Modern World
The Surprising Elements of Talmudic Judaism