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Previously: Russia and Iran Officially Link Their National Banking Systems Here’s the thing about America’s status as a superpower: it’s not because it has the best people. Americans are fat and retarded slobs; most of them are poor and on drugs. They are chronic masturbators. And some, I assume, are good people. America is controlled... Read More
All of these small moves by the non-Western countries are starting to stack up. You can easily see the dollar falling as the world currency over a period of decades, just on this current trajectory. Unfortunately for homosexuals and Jews, that trajectory is likely to get a lot steeper if and when the US empire... Read More
The Kazan lab has laid out several geoeconomic road maps, and is seriously taking the inevitable roadblocks into account. We will need weeks, months, years to fully grasp the enormity of what took place in Kazan during the annual BRICS summit under the Russian presidency. For the moment let’s cherish arguably the most appropriate definition... Read More
Rumble link Bitchute link FFWN link Partial transcript The lead story for this broadcast is the BRICS meeting in Kazan, where they are now creating an alternative to the SWIFT international payments system. It could be a new Bretton Woods such that the American Zionist sanctions regime run by the Global International Banking Crime Syndicate... Read More
NIMA: So nice to have you, Michael. And let's get started with an article in Bloomberg, it says that the United States is concerned about the strengthening ties between Russia, China, Iran, and North Korea. And Richard, should they be concerned about this? RICHARD WOLFF: I think so, yes, they should be concerned. Whatever in... Read More
With less than a month before the crucial BRICS annual summit in Kazan under the Russian presidency, serious informed discussions are raging in Moscow and other Eurasian capitals on what should be at the table in the de-dollarization and alternative payment system front. Earlier this month Andrey Mikhailishin, head of the task force on financial... Read More
I actually agree with this. This is just an obvious fact that anyone who isn’t an insane Ukraine/Israel fanatic is aware of. Disallowing people from using the dollar causes countries to do non-dollar trades which obviously weakens the dollar, as the entire strength of the dollar comes from its position as the global reserve currency.... Read More
In any alternative media space, you are sure to find much talk about US dollar dominance, as well as optimistic forecasts of its imminent decline. This is also true in the radical right, where nationalists pine after an end to US imperial hegemony and the rise of a more multipolar world. Often though, this hope... Read More
I have not paid close attention to the details of the sanctions Washington has imposed on Russia and on other countries that deal with Russia in sanctioned items, which in my impression are largely military related items. My view has been that the sanctions have been good for Russia by forcing Russia out of the... Read More
As I pointed out on May 16 — — when foreign central banks redeem their US dollar denominated reserves such as US Treasuries, they are paid in dollars. They sell the Treasuries because they are getting out of dollar reserves. As they don’t want the Treasuries, they don’t want the dollars in cash or any... Read More
Get ready for what may well be the geoeconomic bombshell of 2024: the coming of a decentralized monetary ecosystem. Welcome to The Unit – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+... Read More
I have just been immersed in an extraordinary experience: a mini-tour of conferences in Brazil encompassing four key cities – Sao Paulo, Rio, Salvador, Belo Horizonte. Full houses, sharp questions, fabulously warm people, divine gastronomy – a deep dive into the 8th largest economy in the world and major BRICS+ node. As much as I... Read More
Very few people in Russia and across the Global South are as qualified as Sergei Glazyev, the Minister for Integration and Macroeconomics of the Eurasia Economic Commission (EEC), the policy arm of the Eurasia Economic Union (EAEU), to speak about the drive, the challenges and the pitfalls in the road towards de-dollarization. As the Global... Read More
A dear friend requested that I do a summary of the stories we missed because of the donation drive. Fortunately, there really isn’t much important stuff that happened. The one story that does actually matter is this one. Reuters (December 28): lol They literally want to do some kind of big spectacle in February –... Read More
RADHIKA DESAI: Hello and welcome to the 17th Geopolitical Economy Hour, the show that examines the fast-changing political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And today we are joined once again by the incomparable Pepe Escobar. Welcome back, Pepe. PEPE ESCOBAR: Hi, everybody. Great... Read More
In 1997, Zbig Brzezinski, the original ‘driver’ behind the making of Afghanistan as a quagmire of ‘mud’ into which Russia was to be dragged, wrote his celebrated book, The Grand Chessboard. It was a work that ‘forever’ embedded the Mackinder doctrine of ‘he who controls the Asian heartland controls the world’ into the U.S. zeitgeist.... Read More
August 23rd was a big news day all over the world. The western media’s focus on the events of that day was solidly on the unproven claims that Russian President Vladimir Putin was behind the sabotage or shooting down of an executive jet that killed his former associate Yevgeny Prigozhin. In reality, however, there was... Read More
Donald Trump’s legal troubles, the possibility that Joe Biden will face an impeachment inquiry, and other stories related to the upcoming presidential election, caused the American media to miss a story of potentially greater significance. This was the decision of the BRICS (Brazil, Russia, India, China, and South Africa), who formed their alliance to challenge... Read More
We will all need plenty of time and introspection to analyze the full range of game-changing vectors unleashed by the unveiling of BRICS 11 last week in South Africa. Yet time waits for no one. The Empire will (italics mine) strike back in full force; in fact its multi-hydra Hybrid War tentacles are already on... Read More
RADHIKA DESAI: Hello and welcome to the 16th Geopolitical Economy Hour, the fortnightly show in which we discuss the political and geopolitical economy of our times. I'm Radhika Desai. MICHAEL HUDSON: And I'm Michael Hudson. RADHIKA DESAI: And we are recording this show on the last day of what may well be remembered as a... Read More
DANNY HAIPHONG: As you can see, it’s your host, Danny Haiphong, and I’m joined by two very special guests, friends of each other and friends of this show. We have the renowned economist Michael Hudson, author of The Collapse of Antiquity, his recent book. Welcome, Michael. Thanks for joining again. And we have Pepe Escobar,... Read More
Question 1-- To what extent has the war in Ukraine accelerated the move to a new global realignment? Paul Craig Roberts-- It was Washington's economic sanctions against Russia, the theft of Russia's central bank reserves, and the theft of Venezuela's gold, not the conflict in Ukraine, that weaponized the US dollar and resulted in global... Read More
America’s weakness is overlooked by investment analysts. Having offshored manufacturing, the US is import-dependent, and having weaponized the dollar Washington is causing foreign central banks to stop holding dollars as reserves. The consequence is that the US has a rising issuance of debt to finance trade and budget deficits, but a declining supply of customers... Read More
AK: Hello everyone. Welcome back to my channel. I see we are live already, perfectly on time, with a Swiss Precision today, because I have fantastic guest - Mr. Michael Hudson, who has been recommended to me by the one and only Andre Marciano who said, Ania, you have to talk to Mr. Hudson, so... Read More
RADHIKA DESAI: Hello, everyone, and welcome to the 15th Geopolitical Economy Hour, the fortnightly show on the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And today we propose to discuss NATO in the aftermath of its recently concluded Vilnius Summit, exploring a variety of... Read More
The Global Majority is free to choose two different paths to counteract the rabid, cognitive dissonant Straussian neocon psychos in charge of imperial foreign policy; to relentlessly ridicule them, or to work hard on the long and winding road leading to a new multipolar reality. Reality struck deep at the Russia-Africa summit in St. Petersburg,... Read More
As the BRICS approach the most important summit in their history on August 22-24 in Johannesburg, South Africa, some fundamentals need to be observed. The top three BRICS cooperation platforms are politics and security, finance and the economy, and culture. So the notion that a new BRICS gold-backed reserve currency will be announced at the... Read More
The 23rd summit of the heads of state of the Shanghai Cooperation Organization (SCO), held virtually in New Delhi, represented History in the making: three BRICS (Russia, India, China), plus Pakistan and four Central Asian “stans” (Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan), finally and formally, welcomed the Islamic Republic of Iran as a permanent member. And... Read More
Haha. RT: Hahahahahahaha. Asked by Congressman Vicente Gonzalez whether the US should lower the use of sanctions in its foreign policy given that even traditionally allied countries, such as France, have been making non-dollar transactions, Yellen stated that for most countries she sees “no meaningful workaround” to using the dollar. She acknowledged that there is... Read More
Against the backdrop of the United States’ recognition of the investigation against Donald Trump as politically motivated, structural and ideological controversies, and concerns that the American economy will enter a recession, the GEOFOR editorial board asked Paul Craig Roberts, Chairman of the Institute for Political Economy (USA), a PhD in Economics and US Undersecretary of... Read More
This is the problem. I keep saying it’s the problem. These countries are now starting to trade in non-dollar currencies, after the US was universally determined – by 85% of the world’s population, by the way – to be a mad dog that can no longer be expected to uphold the global financial system. However,... Read More
It is now established that the US dollar’s status as a global reserve currency is eroding. When corporate western media begins to attack the multipolar world’s de-dollarization narrative in earnest, you know the panic in Washington has fully set in. The numbers: the dollar share of global reserves was 73 percent in 2001, 55 percent... Read More
America is the mad brute. The world now realizes there is no ceiling on the amount of damage this country will do, and they understand the worst part of all: that you cannot any longer expect it to act in its own interests. People are freaking out and just trying to do anything they can... Read More
NOTE: THIS IS THE ENGLISH ORIGINAL OF A COLUMN SPECIALLY COMMISSIONED BY LEADING RUSSIAN BUSINESS DAILY VEDOMOSTI: We cannot even begin to fathom the non-stop ripple effects deriving from the 2023 geopolitical earthquake that shook the world: Putin and Xi, in Moscow, de facto signaling the beginning of the end of Pax Americana. This has... Read More
The idea that History has an endpoint, as promoted by clueless neoconservatives in the unipolar 1990s, is flawed, as it is in an endless process of renewal. The recent official meeting between Saudi Foreign Minister Faisal bin Farhan al-Saud and Iranian Foreign Minister Hossein Amir-Abdollahian in Beijing marks a territory that was previously deemed unthinkable... Read More
Previously: China is Playing Her Hand, Moving to Save the World from the Satanic American Empire While the Americans were mutilating children, poisoning their own population with deadly mutant genetic injections, worshiping the blacks as gods that walk the earth, and jacking off in the Ukraine, the Chinese and the Russians were devising a way... Read More
On Friday geopolitical plates of tectonic scale may have visibly shifted as Iran and Saudi Arabia, two of the most important countries in the Middle East and erstwhile bitter adversaries, announced that they had reestablished diplomatic relations after a lengthy round of negotiations held with top Chinese officials in Beijing. Back in 1945, President Franklin... Read More
The agreement between the Central Banks of Russia and Iran formally signed on 29 January connecting their interbank transfer systems is a game-changer in more ways than one. Technically, from now on 52 Iranian banks already using SEPAM, Iran’s interbank telecom system, are connecting with 106 banks using SPFS, Russia’s equivalent to the western banking... Read More
Let’s start with three interconnected multipolar-driven facts. First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.” So is... Read More
Transcript RADHIKA DESAI: Hi everyone, and welcome to this Geopolitical Economy Hour. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: Every fortnight we are going to meet for an hour to discuss major development in the fast-changing geopolitical economy of our 21st-century world. We’ll discuss international developments. We’ll discuss their roots in... Read More
It would be so tempting to qualify Chinese President Xi Jinping landing in Riyadh a week ago, welcomed with royal pomp and circumstance, as Xi of Arabia proclaiming the dawn of the petroyuan era. But it’s more complicated than that. As much as the seismic shift implied by the petroyuan move applies, Chinese diplomacy is... Read More
What’s the expiration date on the neocons’ Ukraine military adventure? I don’t know. I think Russia will prevail, but not before a Dnieper River of Slavic blood drenches Ukraine’s killing fields and Western nations suffer crippling high-voltage shocks of neoliberal austerity. What would shut down the Ukraine horror show overnight is analogous to the guy... Read More
In history books as well as in politics every story is shaped by where one chooses to begin the tale. The current fighting in Ukraine, which many observers believe to already be what might be considered the opening phase of World War 3, is just such a development. Did the seeds of conflict arise subsequent... Read More
It is impossible to track the geoeconomic turbulence inherent to the “birth pangs” of the multipolar world without the insights of Professor Michael Hudson at the University of Missouri, and author of the already seminal The Destiny of Civilization. In his latest essay, Professor Hudson digs deeper into Germany’s suicidal economic/financial policies; their effect on... Read More
The meeting of the SCO Ministerial Council in Tashkent this past Friday involved some very serious business. That was the key preparatory reunion previous to the SCO summit in mid-September in fabled Samarkand, where the SCO will release a much-awaited “Declaration of Samarkand”. What happened in Tashkent was predictably unreported across the collective West and... Read More
So, Joe Biden, the alleged President of America, was supposed to go to this meeting with the Arabs and beg them for oil. Instead, the wacky sonovabitch strapped a bomb to his chest and ran into a crowd of sheiks, yelling “Ukrainia Akbar!” before clicking the detonator. Reuters: [citation needed] Biden, who began his first... Read More
Michael Hudson [intro/music] A central tenet of the World Bank from the beginning is to convince countries not to grow their own food, but to create plantation agriculture to prevent family-owned farming of food, to grow plantation export crops and they become dependent on the United States for their grain. [00:00:22.610] – Steve Keen [intro/music]... Read More
Here's your 'reserve currency' thought for the day: Every US dollar is a check written on an account that is overdrawn by 30 trillion dollars. It's true. The "full faith and credit" of the US Treasury is largely a myth held together by an institutional framework that rests on a foundation of pure sand. In... Read More
The first Eurasia Economic Forum, held last week in Bishkek, Kyrgyzstan, should be regarded as a milestone in setting the parameters for the geoeconomic integration of the Eurasian heartland. Sergei Glazyev, Russia’s Minister in Charge of Integration and Macroeconomics of the Eurasia Economic Union (EAEU), is coordinating the drive to design an alternative monetary-financial system... 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