de-dollarization | Michael Hudson

Super-Imperialism at the Pentagon

By Michael Wednesday, February 13, 2019 Interviews de-dollarization Permalink

picture: Tilo Gräser / Sputniknews Germany An interview on Sputnik News - January 23rd. text / interview: Alexander Boos / Sputniknews Germany Professor Hudson, in January you warned in Berlin at the Rosa Luxemburg Conference, about the still "dangerous" US financial imperialism. The US uses "financial weapons“, you said. Can you explain that briefly? After World War II, the US created the World Bank and the International Monetary Fund IMF. These instruments were created as essential control mechanisms to control other countries financially. This became particularly apparent after the US abolished its gold-standard in 1971. Since then, the US has always sought to force other states to hold their own currency reserves in US dollars. That means that those governments must then obtain the money through the US Federal Reserve. To make it ...

Venezuela as the pivot for New Internationalism?

By Michael Wednesday, February 6, 2019 Interviews de-dollarization, Imperialism, Venezuela Permalink

Saker interview with Michael Hudson on Venezuela, February 7, 2019 Introduction: There is a great deal of controversy about the true shape of the Venezuelan economy and whether Hugo Chavez’ and Nicholas Maduro’s reform and policies were crucial for the people of Venezuela or whether they were completely misguided and precipitated the current crises. Anybody and everybody seems to have very strong held views about this. But I don’t simply because I lack the expertise to have any such opinions. So I decided to ask one of the most respected independent economists out there, Michael Hudson, for whom I have immense respect and whose analyses (including those he co-authored with Paul Craig Roberts) seem to be the most credible and honest ones you can find. In fact, Paul Craig Roberts considers ...

Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony

By Michael Friday, February 1, 2019 Articles de-dollarization, globalization, superimperialism, Washington Consensus Permalink

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 against Venezuela and Syria – and threatening other countries with sanctions if they do not join this crusade – is now driving European and other nations to create their alternative financial institutions. This break has been building for quite some time, and was bound to occur. But who would have thought that Donald Trump would become the catalytic agent? No left-wing party, no socialist, anarchist or foreign nationalist leader anywhere ...