Super Imperialism - New Edition: The Origin and Fundamentals of U.S. World Dominance

Product Information

MICHAEL HUDSON: The number one U.S. enemy has always been its closest friend, its closest rival. It fought against England, and then France. The debt that America has is the money of other countries. The central bank reserves that they hold in dollars in Treasury bonds is counted as their monetary reserves for their own economy.

3rd Edition: Super-Imperialism | Michael Hudson

So America had essentially gained control of Britain’s domestic financial policy by insisting that this policy be set in Washington, not in London. The pipeline is all there. All they have to do is open the pipeline, and the price of gas will come down. We want to develop your agriculture, but we will only develop export crops because you are a tropical country that can be exported, that we can’t grow in the United States, palm oil or whatever, coffee, bananas.And we’re going to create a basic tax system and public support system to minimize the cost of housing. Not only did the Americans say, first of all, no country can limit its spending to say you have to keep the money in your former colonial power. So they’re trying to prevent the United States from using the Green Party in Germany’s turn, following the U.S., with a very nationalistic anti-Russian, pro-American position. BEN NORTON: And yeah, well, we’ll end on that. Do you have anything to add, Professor Hudson, before we leave? MICHAEL HUDSON: That’s probably true. I have not heard of the book; nobody sent me a copy. I don’t know about it.

Super Imperialism: The economic strategy of American empire Super Imperialism: The economic strategy of American empire

Finally, on 19 October 1976, the then President of the US Gerald Ford signed an act to put in law what was already true as a matter of formality. Financial Crises But other economies are just dumping the dollar. And so all these dollars are being turned in to hard currency, each other’s currencies, gold, each other’s industry, real economic means of production.

Here’s what happens. And here’s what happened during the Vietnam War. And here’s what was not in the Vietnam Papers that McNamara asked for. MICHAEL HUDSON: Well that is happening, but not in the way you described. The Federal Reserve has hardly spent any money into the economy at all. I wonder if you can expound on that and maybe take us into the new cold war and the economic rationale for a very different United States, arguably a declining empire that has agitated a new cold war.

super imperialism’ with Economics of the new cold war and US ‘super imperialism’ with

So it told Japan, we want you to agree to buy a big chunk of our foreign debt. England and Europe said, ok, we’re going to go along and we’re going to buy a big chunk of it too. and Forgive Them Their Debts: Lending, Foreclosure and Redemption From BronzeAge Finance to the Jubilee Year, New York: ISLET, New York. The proposal is to establish a Currency Union, here designated an International Clearing Union, based on international bank-money, called (let us say) bancor, fixed (but not unalterably) in terms of gold and accepted as the equivalent of gold by the British Commonwealth and the United States and all members of the Union for the purpose of settling international balances. And the most important public utility to China, as it was to Russia, is to keep money creation, banking, and credit in the public domain. So all of a sudden, the Baltic countries couldn’t export cheese or other things to Russia. What Russia did was say this is the most wonderful thing that has happened. Now we can develop our own agriculture.But ultimately, the economy is going to re-merge. It’s just a question of when we can get a better deal from China than we get in the United States. MICHAEL HUDSON: There was a lot of discussion recently in China about the Plaza Accord and the Louvre Accord. There’s no parallel at all.