Recent Posts by Michael

Dollar Recycling and Military Encirclement

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On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo. 20191124 Michael Hudson – Dollar Recycling and De-Dollarization 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 created a situation in which the excess U.S. dollars thrown off by the U.S. payments deficit end up in foreign central banks. For these central banks, the inflow of surplus dollars poses the problem of ...

Trump’s “Bank and Landlord Relief” bill

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The Radical Imagination: Imagining How Financial Parasites and Debt Bondage Are Destroying UsImagining How Financial Parasites and Debt Bondage Are Destroying Us   Jim Vrettos: Welcome once again to the Radical Imagination. I'm your host, Jim Vrettos. I'm a sociologist whose taught at John Jay College of Criminal Justice and Yeshiva University here in New York. Our guest today on the Radical Imagination is Michael Hudson. He was on our March 8th show. We had such an overwhelmingly positive response to that show that we've asked him to return today, and he's been gracious enough to accept. Unlike most economists, he's been a fierce champion and advocate for the economic rights of the poor, workers, disenfranchised and the vulnerable around the world through his scholarship and lifelong activism. His unique economic analysis has explored history's ...

The Hard Fist of American Imperialism

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Moderate Rebels Part 2 Super Imperialism, April 2020 TRANSCRIPT - HOW THE US MAKES COUNTRIES PAY FOR ITS WARS: ECONOMICS OF AMERICAN IMPERIALISM WITH MICHAEL HUDSON | MODERATE REBELS, 24 APRIL 2020 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 BRICS, and the new cold war on China and Russia. PART 2 OF 2 (Interview recorded on April 13, 2020) Part 1: “US coronavirus ‘bailout’ scam is $6 trillion giveaway to Wall St – Economist Michael Hudson explains” MICHAEL HUDSON: The World Bank has one primary aim, and that’s to ...

Another Giveaway

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TRANSCRIPT: US CORONAVIRUS 'BAILOUT' SCAM IS $6 TRILLION GIVEAWAY TO WALL ST - ECONOMIST MICHAEL HUDSON EXPLAINS 21 APRIL 2020 BY MODERATE REBELS Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders.  Max Blumenthal and Ben Norton discuss the enormous financial scam with Hudson, who reveals how the economy actually works, with the Federal Reserve printing money so rich elites don’t lose their investments.  Michael Hudson, “A debt jubilee is the only way to avoid a depression,” The Washington Post, March 21, 2020 Transcript MICHAEL HUDSON: Just think of when, in the debates with Bernie Sanders during the spring, Biden and Klobuchar kept saying, ‘What we’re paying for Medicare-for-All will be ...

Due now

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An interview on Renegade Inc with Ross Ashcroft. Ross: Michael, really good to have you back on Renegade Inc. Michael Hudson: It's good to be here. Ross: Can you just give us a snapshot into what you're seeing in New York? I know that you're in quarantine at the moment. You're holed up in your bunker. Just give us an idea of what it's like over there. Michael Hudson: Well, I'm in the epicentre of the epicentre, according to the governor of New York, I'm in Queens, in Forest Hills, right next to Elmhurst, where on television they're showing lines eight hours long in the rain of people trying to get tested for Corona virus in the Elmhurst public hospital. It's a disaster area there. They show the refrigerator truck ...

The Use and Abuse of MMT

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By Michael Hudson, with Dirk Bezemer, Steve Keen and T.Sabri Öncü Michael Hudson is a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “and forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year Dirk Bezemer is a Professor of Economics at the University of Groningen in The Netherlands.. Steve Keen is a Professor and  Distinguished Research Fellow at the Institute for Strategy, Resilience and Security of University College London (www.isrs.org.uk). He blogs at www.patreon.com/profstevekeen Sabri Öncü (sabri.oncu@gmail.com) is an economist based in İstanbul, Turkey Summary After being attacked by monetarists and others for many decades, MMT and the idea that running government budget deficit is stabilizing instead of destabilizing are suddenly gaining applause ...

NPR, cov-19 and “America is strapped”.

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Radio interview, NPR, April 2, 2020 What is the next step to prop up the virus-battered United States economy, even as the $2 trillion stimulus package only begins to percolate out? Well, Republicans and Democrats have returned to talking about a massive infrastructure building program that would employ lots of people. That would be a post-COVID-19 intervention. More immediately, some economists want more done to ease the debt owed by individuals, small businesses, cities, towns and states. Michael Hudson, a professor of economics at the University of Missouri at Kansas City and president of the Institute for the Study of Long-Term Economic Trends, is one of those economists. “Right now, America’s economy is strapped,” said Hudson, author of “…and forgive them their debts.” “America could have another economic miracle by writing down the ...

Radical imagination and the intellectual edifice

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https://www.youtube.com/watch?v=dnHJBUczgE0 Radical Imagination | Imagining How the World of Finance Really Works Host Jim Vrettos interviews Professor Michael Hudson, Economist, Wall St. Analyst, Political Consultant, Commentator and Journalist; who offers his views in the way finance works and Welcome, welcome once again to the Radical imagination. I'm your host, Jim Vrettos. I'm a sociologist who's talked at John Jay College of Criminal justice and Yeshiva university here in New York. Our guest today, on the Radical Imagination, is one of only eight economists named by the financial times who foresaw the credit crisis and ensuing great recession erupting in 2008. It was conventional wisdom at the time to say that no one saw the gravity of the crisis coming, including almost every leading economist and financier in the world. In fact, many had ...

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