Guys, we want to work full-time on this, but our financial woes keep us pushing away. If your wallet allows please drop us some support. We prefer the PayPal method since we don't lose half of the money, but you can also give us a super chat. If you are a large donor, we would obviously get in touch with you to give something back if we can. But if you can't no worries. Please subscribe, share, and like. That means a lot already.
a thought: if you had a seller for an item, say, a microphone, you could put an ad on ebay or somewhere where someone would donate $24.88 and to the seller, who ships the microphone to you. so you could have a merch thing where someone could buy you an office chair or a camera or whatever they liked.
Cargill: Our taxes, global destruction Minnetonka-based Cargill is often noted as the world’s largest private corporation, with reported annual sales of over $50 billion and operations at any given time in an average of 70 countries. The “Lake Office” of Cargill is a 63-room replica of a French chateau; the chairman’s office is part of what was once the chateau’s master-bedroom suite. A family empire, the Cargills and the MacMillans control about 85 percent of the stock. Not only the largest grain trader in the world, with over 20 percent of the market, Cargill dominates another 12 sectors, including destructive speculative finance, according to “Invisible Giant: Cargill and its Transnational Strategies,” by Brewster Kneen. Taking advantage of the capitalist speculative collapse of 1873, Cargill quickly bought up grain elevators. After vast cooperation with the state-sponsored railroad robber barons, central grain terminals averaged extremely high annual returns on investments of 30 to 40 percent between 1883 and 1889. Cargill hired a Chase Bank vice president to secretly help the corporation through the Depression, writes Dan Morgan in “Merchants of Grain.” “There are only a few processing firms,” and “these firms receive a disproportionate share of the economic benefits from the food system,” states William D. Heffernan, professor of rural sociology at the University of Missouri. Details of Cargill’s price manipulations at the expense of farmers worldwide was documented in the classic study, “Food First: Beyond the Myth of Scarcity” by Frances Moore Lappe and Joseph Collins. They report that Cargill has had a history of receiving elite government price information that should be told to U.S. farmers. That secrecy, along with tax-subsidized market control, enables Cargill to buy from U.S. farmers at extremely low prices and then sell abroad to nations pressured under the same destructive elite corporate control. See the Institute for Food and Development Policy’s Web Site Between 1985 and 1992, the legal entity called Cargill received $800.4 million in tax subsidies via the Export Enhancement Program, a continuation of the infamous “Food for Peace” policy, writes Kneen. Promoted by Hubert H. Humphrey and instituted as PL 480, food became a Cold War tool, i.e. “for Peace.” If we can induce people to “become dependent on us for food,” then “what is a more powerful weapon than food and fiber?” Humphrey declared, according to “Necessary Illusions: Thought Control in Democratic Societies” by Noam Chomsky. Actually, most of the nation recipients of tax-subsidized Cargill food dumping were, and are, net exporters of food already - policies imposed by colonial trading patterns. The food (for Peace) has been bought cheaply by neocolonial regimes, and then sold at a huge discount on the local market - in Somalia, for example, at one-sixth of the local prices. Many examples of these misguided policies can be found in “Betraying the National Interest: How US Foreign AID Threatens Global Security by Undermining the Political and Economic Stability of the Third World,” by Frances Moore Lappe, et al. Cargill’s undercutting wipes out the local farmers’ self-reliance, while the revenues (going to the elite) are tied to required purchases of U.S. weapons, writes Chomsky, citing “The Soft War” by Tom Barry, 1988. But the main beneficiary of “Food for Peace” has been Cargill. Keen writes, “From 1954 to 1963, just for storing and transporting P.L. 480 commodities, the heavily subsidized giant Cargill made $1 billion.” Indian lawyer N.J. Nanjundaswamy reports that a Cargill motto is, “One who controls the seed, controls the farmer, and one who controls the food trade, controls the nation.” Yudof’s recently stated support of federal foreign policy Title XII is another public promotion of the University of Minnesota-Cargill partnership’s raiding of sustainable agricultural cultures. Cargill is such a damaging threat that in Dec. 1992, 500,000 peasants marched against corporate-controlled trade, and the irate farmers ransacked Cargill’s operations. Fifty people were arrested at the partially completed - and subsequently destroyed - seed-processing plant in Bellary, India. In 1996, 1,000 Indian farmers gathered at Cargill’s office and destroyed Cargill’s records. Cargill has been doing bio-piracy, stealing traditional products. For instance, it used Basmati, a rice from India, as its trade name, and the company continues to be one of the main promoters of corporate-driven intellectual property rights. The U.S. Trade Act, Special 301 Clause, allows the United States to take unilateral action against any country that does not open its market to U.S. corporations. The United States, for example, has threatened to use trade sanctions against Thailand for its attempt to protect biodiversity. A bill that has been before parliament in India and promoted by Cargill, “takes away all the farmers’ rights, which they have enjoyed for generations - they will no longer be able to produce new varieties of seed or trade seed amongst themselves,” writes Nanjundaswamy. The research center, Rural Advancement Foundation International, found that “fifteen African states, among them some of the poorest countries in the world, are under pressure to sign away the right of more than 20 million small-holder farmers to save and exchange crop seed. The decision to abandon Africa’s 12,000-year tradition of seed-saving will be finalized at a meeting in the Central African Republic. The 15 governments have been told to adopt draconian intellectual property legislation for plant varieties in order to conform to a provision in the World Trade Organization.” Cargill, with extensive funding from the U.S. Agency for International Development, is also destroying the world’s largest wetland - the Pantanal, in South America - in order to dredge a channel that’s designed for convoys of up to 16 soybean- and soymeal-carrying barges, according to the Institute on Food and Development Policy. Cargill has been on the Council of Economic Priorities’ list of worst environmental offenders. Mother Jones magazine and Earth Island Journal report that Cargill is responsible for 2,000 OSHA violations, a 40,000-gallon spill of phosphoric solution into Florida’s Alafia River, poor air pollution compliance and record-high releases of toxic waste. With help from the Program on Corporations, Law and Democracy, states have recently begun to respond to citizen pressure and revoke corporate charters. The assets of Cargill should be revoked, allowing the citizens of the United States to give farmers the benefits of fair trade instead of Cargill’s secretive policy of tax-subsidized global destruction. yes I have a distant relative who works for the World Bank - the corporate agriculture tied into Cargill.
The bangko sentralng pilipinas have been printing U.S.$ since 2014; Janet Yellen gave permission ❤(CEO Fed. Reserve Bank) therefore BSP is financing terrorism and wars since 2014 at the expense of CIA
I guess we the people are just going to let these dangerous men rule over us? I guess we aren't going to become aware of the political and economic scams that reduce our lives into poor creatures? Oh, okay then we are f**ked. Get ready to whine and act confused. Get ready to wait for the good guy to show up. He won't .
This is one of the very few Indian channels that’s not obsessed with hatred for China and Pakistan ! Happy to see cool calm intelligent frank conversations without the bias and hate ! Great channel keep up the unbiased reporting!
Much respect for this show. No hatred, no petty point scoring, no jingoistic shortcuts, or unnecessary bias. Informed and very knowledgeable comments and questions from an intellectually superior host. Sooo cool that this is coming from the great India. About Prof. Hudson, what can I say? I have a PhD in economics and have long been interested in these issues. But with Prof. Hudson, you always feel like a student again. It is a pleasure to experience that sensation of enjoying learning something new. Great interview.
"Soooo cool this is coming from the great India". Are you kidding me my friend? India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
"Soooo cool this is coming from the great India". Are you kidding me my friend? India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
"Soooo cool this is coming from the great India". Are you kidding me my friend? India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
This discussion is as valuable to me as all the years i spent in school. Really opened my eyes to the answers to questions that I've been searching. What an education Michael Hudson has given me in an hour. Thank you.
Dutch farmers and European farmers were up in arms about their traditional crops being sidelined. Does this have anything to do with the world Bank. Also I remember farmers in India having trouble growing traditional crops because of dictates from World bank and a certain American billionaire.Is this true?
I love listening to Professor Hudson, as well as Sacks, Meersheimer, and others. No way will they get air time in mainstream media. On the other hand, there is a sadness in learning the true nature of my country; and realizing that our most trusted leaders lie to us daily.
Prof. Hudson is one of the few economists I trust. Hudson does not subscribe to and will call out the American exceptionalism fallacy. He incorporates the US imperialist goals into his analysis. Excellent interview and upload.
This is the second time I have listened to this interview. Michael Hudson's ability to provide a comprehensive narrative of the parasitic system predating on our labor is unique.
Thank you Prof Michael Hudson for your clear thinking and straightforward explanation of the the politico-economic world we have enslaved ourselves to. We no longer have economies, we have banks like Citi and Barclays, HSBC and so on. Channelling monetary wealth at speed and covertly is the way we operate in 2024. I can vouch for Michael's commentary having worked for Citi throughout the 1980s in a representative offce and being on the inside of sovereign loans, corporate loans and treasury operations. It all ended badly for the country I lived in with austerity on the heels of privatisation and the slaughter of the trade unions and organised labour. Now it's merely financially driven economics, IP, IT and industrial dairy each with fancy marketing and dressing up the accounts. It's a scam on a national level, and easily maintained. A typical person still doesn't understand how it's operated. The scary thing is, they still don't want to know.
It depends on which countries they're from, those from the US n countries that have benefited immensely from a US imperialism will definitely don't want to khow, those who are victims will certainly want to know about this criminal system
@@yaoliang1580 I tried to tell the exact thing to people, and the people who really don't want to hear are the ones that have been in this country for the past 20-30 years from Central America. Cause they got it good now and they want it to stay this way.
Michael Hudson is so very knowledgeable in Economics, While I follow Yanis Varafoukis and Prof Richard Wolff religiously, Michael presents many things Ive never considered. Another excellent post.
@@dannysdailysthey were already bigger than G7 before the new members joined. Venezuela having great chances to join soon which would basically result in a total energy dominance. People in Europe and the USA need to wake up and stop with silly games like stealing frozen assets. Such action will only result in even more countries turning their back on the West
Extremely good interview! I'm a huge fan of Micheal Hudson and I'm glad you have managed to get an interview with him. I'm a new subscriber! Keep up the good work!
This might be one of the best interviews I've seen in my life and I'm not sure I've ever learned as much in 75 min as I did watching this vid. Michael Hudson is peerless.
I had always been suspicious of the World Bank's dealings. But Prof. Hudson's damning comments of the WB are the worst i have heard. And i can see why. I had just not been aware of their evil operations. An eye opener. Thanks.
This is my first time ever listening to him. Wow. Bomb after bomb full of knowledge. These past 2 years have made me do a deep dive on everything and I’ve learned about people like Colonel MacGregor, Jeffrey Sachs, Richard Wolf, Larry Wilkerson, Karen Kwiatkowski… but he might be my new favorite. Thank you for this wonderful interview! Going to check out more and you just earned a subscriber!
Fully agree. I believe that these people represent, regardless of their ideologies, the realist wing of Western thinking. This brand of thinking was virtually absent in major debates in the past, but they are a necessary complement to understanding the world we are currently living in. In that sense, these commentators are like a breath of fresh air. They are pragmatic, eager to see the truth beyond their own niche, and aware of the need for peace and respect for self-determination. Their opinions are much needed today as we witness the material consequences of the wishful-thinking-based neoliberal order unfold.
When New York City was a manufacturing center, it also had a strong union movement. By driving out manufacturing in NYC, the union movement was crushed.
Completely agree with Michael’s assessment of Paul Krugman. These days reading his column is no different from reading the ideology refuse from the State Department.
Professor Michael Hudson is right about dedollarization of reserves. By dedollarizing reserves, you prevent the US from using dollar treasuries to finance its deficit in term of military spending to attack, regime change, color revolution Global South countries. When countries like China, Russia, Saudi Arabia, Japan stops buying treasuries it prevents US from financing its debt, deficits cheaply. It forces the Federal Reserve to buy the debt since the US private market can only absorb so much of treasury issuance without the rates going up drastically. When the Federal Reserve monetizes this treasurie issue, it causes the dollar to go down which prevents the predatory tactics of US using dollar to exploit Global South countries. Luke Gromen, an investment manager, has said the same thing. That's why they force Saudi Arabia to store their reserves in US assets like treasuries, US stocks because if Saudi Arabia tries to do otherwise, US will declare war on Saudi Arabia or try to regime change it like they did to Iran, Syria, Iraq, Libya.
I need this explained to me in simple terms. So when foreign countries try to get rid of US dollars.. ok wait. First examine why foreign countries have so much US dollars... Is it because they're selling shit that the US buys, and the US buys it in dollars? Ok, so that explains why these countries have so much dollars sitting around. Next question is: why do they need/want to get rid of these dollars? What is the US doing that's making holding US dollars dangerous?
Thanks, Professor Hudson, for explaining all of this in a clear and concise manner. Your depth of knowledge on such a wide array of academic areas from economics/finance to real-world geo-politics and history is very appreciated. If everyone knew what you know, we could transition to a peaceful, mutually beneficial multipolar world.
37:00 capital - head or top, I am, tally. Capital is your brain, your muscles, what you produce. If you do not have capital, you do not have production. Currency is not capital. People getting the job done is.
This was an excellent interview! His description of the nuanced financial workings of the western financial system is a real eye opener, if you have a kid in high school, sit them down to watch this, they'll learn alot! I don't subscribe to left or right but I love the way he described the current political left wing...
Wealth distribution is a legitimate concern of the left but Hudson is correct to point out that wealth creation should not be the exclusive concern of the right.
Man that was great. Brilliant Mr Hudson. This is a textbook discussion about everything. Never mind ELon Musk and the internet of everything, this is the bollocks here.
Michael Hudson é sempre brilhante. É uma vergonha que os seus livros não sejam traduzidos para o português. Isso mostra o triste estado da indústria editorial em Portugal e no Brasil - preferem editar lixo ao invés de obras fundamentais como a sua.
What would dr.hudson say about the shift in state and world bank economics after 1970? It looks to me like there was a big change from keynesian thinking that attempted to boost overall economy,to a more predatory role that enabled efficient extraction. Were friedman or austrians a major influence? Is modern economics at the reserve and US Bank unintentionally destructive?
Surprised that only 146 people watching a very important discussion. Is it because they already know what's being discussed or they just accept the status quo.
I worked for a UNDP funded project which was executed by the IBRD when Robert McNamara was the head of the World Bank. I dont know the financial arrangements but I thought the project brought much development to my country. The team of advisers comprised experts in the field of agriculture including fisheries, regional development, land rehabilitation, land development, personnel development as well as infrastructure development. That project was carried out in the late 70s. I left before the project was completed and have live abroad many years now and no longer keep track of developments of that country but I believe it has brought great progress to that country. I wish this interview was made then but then there was no internet or computers in those days.
The only other thinker in economics at the level of Dr Hudson is Dr Richard Werner, an expert on the banking system. 90% of Nobel Prize winners in economics serve the western financial establishment (Modigliani/Miller etc) - the recent exception being Angus Deaton.
There is the public in any country, ignorent, sleep walking, electing leaders blindly, unaware of the play book, who may even be serving the bigger game knowingly or not, played slowly to strip them of their assets, and increase their cost of living, education, healthcare costs slowly. As staged over few decades, they do not see the steps coming their way. Actually they themselves reverentially invite the same robbers, coming with a smile and sweet words to their home for advice. The interesting thing is the advisers employed may not see how they are being used as pawns in a much bigger game, they also may think they are helping these poverty stricken countries. The game is so widely laid, slowly operated unless you know it, you will not see it. Unless the public world over is informed, by teaching basic economics of how money function, debt function, and credit function, the game will go on.
Guys, we want to work full-time on this, but our financial woes keep us pushing away. If your wallet allows please drop us some support. We prefer the PayPal method since we don't lose half of the money, but you can also give us a super chat. If you are a large donor, we would obviously get in touch with you to give something back if we can. But if you can't no worries. Please subscribe, share, and like. That means a lot already.
a thought: if you had a seller for an item, say, a microphone, you could put an ad on ebay or somewhere where someone would donate $24.88 and to the seller, who ships the microphone to you. so you could have a merch thing where someone could buy you an office chair or a camera or whatever they liked.
no
Cargill: Our taxes, global destruction
Minnetonka-based Cargill is often noted as the world’s largest private corporation, with reported annual sales of over $50 billion and operations at any given time in an average of 70 countries. The “Lake Office” of Cargill is a 63-room replica of a French chateau; the chairman’s office is part of what was once the chateau’s master-bedroom suite.
A family empire, the Cargills and the MacMillans control about 85 percent of the stock. Not only the largest grain trader in the world, with over 20 percent of the market, Cargill dominates another 12 sectors, including destructive speculative finance, according to “Invisible Giant: Cargill and its Transnational Strategies,” by Brewster Kneen.
Taking advantage of the capitalist speculative collapse of 1873, Cargill quickly bought up grain elevators. After vast cooperation with the state-sponsored railroad robber barons, central grain terminals averaged extremely high annual returns on investments of 30 to 40 percent between 1883 and 1889. Cargill hired a Chase Bank vice president to secretly help the corporation through the Depression, writes Dan Morgan in “Merchants of Grain.”
“There are only a few processing firms,” and “these firms receive a disproportionate share of the economic benefits from the food system,” states William D. Heffernan, professor of rural sociology at the University of Missouri. Details of Cargill’s price manipulations at the expense of farmers worldwide was documented in the classic study, “Food First: Beyond the Myth of Scarcity” by Frances Moore Lappe and Joseph Collins. They report that Cargill has had a history of receiving elite government price information that should be told to U.S. farmers.
That secrecy, along with tax-subsidized market control, enables Cargill to buy from U.S. farmers at extremely low prices and then sell abroad to nations pressured under the same destructive elite corporate control. See the Institute for Food and Development Policy’s Web Site
Between 1985 and 1992, the legal entity called Cargill received $800.4 million in tax subsidies via the Export Enhancement Program, a continuation of the infamous “Food for Peace” policy, writes Kneen. Promoted by Hubert H. Humphrey and instituted as PL 480, food became a Cold War tool, i.e. “for Peace.” If we can induce people to “become dependent on us for food,” then “what is a more powerful weapon than food and fiber?” Humphrey declared, according to “Necessary Illusions: Thought Control in Democratic Societies” by Noam Chomsky.
Actually, most of the nation recipients of tax-subsidized Cargill food dumping were, and are, net exporters of food already - policies imposed by colonial trading patterns. The food (for Peace) has been bought cheaply by neocolonial regimes, and then sold at a huge discount on the local market - in Somalia, for example, at one-sixth of the local prices. Many examples of these misguided policies can be found in “Betraying the National Interest: How US Foreign AID Threatens Global Security by Undermining the Political and Economic Stability of the Third World,” by Frances Moore Lappe, et al.
Cargill’s undercutting wipes out the local farmers’ self-reliance, while the revenues (going to the elite) are tied to required purchases of U.S. weapons, writes Chomsky, citing “The Soft War” by Tom Barry, 1988. But the main beneficiary of “Food for Peace” has been Cargill. Keen writes, “From 1954 to 1963, just for storing and transporting P.L. 480 commodities, the heavily subsidized giant Cargill made $1 billion.”
Indian lawyer N.J. Nanjundaswamy reports that a Cargill motto is, “One who controls the seed, controls the farmer, and one who controls the food trade, controls the nation.” Yudof’s recently stated support of federal foreign policy Title XII is another public promotion of the University of Minnesota-Cargill partnership’s raiding of sustainable agricultural cultures.
Cargill is such a damaging threat that in Dec. 1992, 500,000 peasants marched against corporate-controlled trade, and the irate farmers ransacked Cargill’s operations. Fifty people were arrested at the partially completed - and subsequently destroyed - seed-processing plant in Bellary, India. In 1996, 1,000 Indian farmers gathered at Cargill’s office and destroyed Cargill’s records.
Cargill has been doing bio-piracy, stealing traditional products. For instance, it used Basmati, a rice from India, as its trade name, and the company continues to be one of the main promoters of corporate-driven intellectual property rights. The U.S. Trade Act, Special 301 Clause, allows the United States to take unilateral action against any country that does not open its market to U.S. corporations.
The United States, for example, has threatened to use trade sanctions against Thailand for its attempt to protect biodiversity. A bill that has been before parliament in India and promoted by Cargill, “takes away all the farmers’ rights, which they have enjoyed for generations - they will no longer be able to produce new varieties of seed or trade seed amongst themselves,” writes Nanjundaswamy.
The research center, Rural Advancement Foundation International, found that “fifteen African states, among them some of the poorest countries in the world, are under pressure to sign away the right of more than 20 million small-holder farmers to save and exchange crop seed. The decision to abandon Africa’s 12,000-year tradition of seed-saving will be finalized at a meeting in the Central African Republic. The 15 governments have been told to adopt draconian intellectual property legislation for plant varieties in order to conform to a provision in the World Trade Organization.”
Cargill, with extensive funding from the U.S. Agency for International Development, is also destroying the world’s largest wetland - the Pantanal, in South America - in order to dredge a channel that’s designed for convoys of up to 16 soybean- and soymeal-carrying barges, according to the Institute on Food and Development Policy.
Cargill has been on the Council of Economic Priorities’ list of worst environmental offenders. Mother Jones magazine and Earth Island Journal report that Cargill is responsible for 2,000 OSHA violations, a 40,000-gallon spill of phosphoric solution into Florida’s Alafia River, poor air pollution compliance and record-high releases of toxic waste.
With help from the Program on Corporations, Law and Democracy, states have recently begun to respond to citizen pressure and revoke corporate charters. The assets of Cargill should be revoked, allowing the citizens of the United States to give farmers the benefits of fair trade instead of Cargill’s secretive policy of tax-subsidized global destruction.
yes I have a distant relative who works for the World Bank - the corporate agriculture tied into Cargill.
The bangko sentralng pilipinas have been printing U.S.$ since 2014; Janet Yellen gave permission ❤(CEO Fed. Reserve Bank) therefore BSP is financing terrorism and wars since 2014 at the expense of CIA
I guess we the people are just going to let these dangerous men rule over us? I guess we aren't going to become aware of the political and economic scams that reduce our lives into poor creatures?
Oh, okay then we are f**ked. Get ready to whine and act confused. Get ready to wait for the good guy to show up. He won't .
Hudson is the most brilliantly honest economist on the planet!!!!!
Don't know if I'd go that far, but it's hard to think of anyone who stands convincingly above him in his field. The old bull for sure though 👌
He is not alone ... the interesting thing is that he and other rational economists are all singing the same tune.
Steve Keen, Radhika Desai and Richard Wolff are also brilliant, fervent critics of neo-liberalism, mainstream economics and Western imperialism.
This is one of the very few Indian channels that’s not obsessed with hatred for China and Pakistan ! Happy to see cool calm intelligent frank conversations without the bias and hate ! Great channel keep up the unbiased reporting!
That’s very true, that’s why I did not hesitate to subscribe, the only Indian channel I subscribed. WION, et al are unfair.
i come here for india self righteous 😂
You mean not playing lap dog for the sahibs
Or Israel
But these kind of people are less than 5% in India and they have ZERO power. Most Indians are now very anti-china.
Much respect for this show. No hatred, no petty point scoring, no jingoistic shortcuts, or unnecessary bias. Informed and very knowledgeable comments and questions from an intellectually superior host. Sooo cool that this is coming from the great India.
About Prof. Hudson, what can I say? I have a PhD in economics and have long been interested in these issues. But with Prof. Hudson, you always feel like a student again. It is a pleasure to experience that sensation of enjoying learning something new. Great interview.
Totally.
I only have a bachelors in economics. I feel like I’m receiving a post grad supplement like I should’ve done when I listen to him.
"Soooo cool this is coming from the great India".
Are you kidding me my friend?
India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
"Soooo cool this is coming from the great India".
Are you kidding me my friend?
India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
"Soooo cool this is coming from the great India".
Are you kidding me my friend?
India is the dirtiest country in the whole world. I wished India could fix the basic problems first.
Michael Hudson is the greatest living economist.
Fantastic analysis. These are difficult concepts which he has mastered. He communicates them effectively. Long live Michael!
This discussion is as valuable to me as all the years i spent in school. Really opened my eyes to the answers to questions that I've been searching. What an education Michael Hudson has given me in an hour. Thank you.
All of this is mute until we find out how successful the new BRICS is going to be.
Hear hear
What every thing we thought we know that is wrong
Dutch farmers and European farmers were up in arms about their traditional crops being sidelined.
Does this have anything to do with the world Bank.
Also I remember farmers in India having trouble growing traditional crops because of dictates from World bank and a
certain American billionaire.Is this true?
Yes
I love listening to Professor Hudson, as well as Sacks, Meersheimer, and others. No way will they get air time in mainstream media. On the other hand, there is a sadness in learning the true nature of my country; and realizing that our most trusted leaders lie to us daily.
John mearsheimer is a crook
@glennc2144
I think you mean Professor Sachs?
Prof. Hudson is one of the few economists I trust. Hudson does not subscribe to and will call out the American exceptionalism fallacy. He incorporates the US imperialist goals into his analysis. Excellent interview and upload.
This is the second time I have listened to this interview. Michael Hudson's ability to provide a comprehensive narrative of the parasitic system predating on our labor is unique.
A living legend! Thank God we have people like him!
Thank you for interviewing Professor Hudson again! Such an honour taking the free lecture from such a true intellect!
Thank you Prof Michael Hudson for your clear thinking and straightforward explanation of the the politico-economic world we have enslaved ourselves to. We no longer have economies, we have banks like Citi and Barclays, HSBC and so on. Channelling monetary wealth at speed and covertly is the way we operate in 2024. I can vouch for Michael's commentary having worked for Citi throughout the 1980s in a representative offce and being on the inside of sovereign loans, corporate loans and treasury operations. It all ended badly for the country I lived in with austerity on the heels of privatisation and the slaughter of the trade unions and organised labour. Now it's merely financially driven economics, IP, IT and industrial dairy each with fancy marketing and dressing up the accounts. It's a scam on a national level, and easily maintained. A typical person still doesn't understand how it's operated. The scary thing is, they still don't want to know.
It depends on which countries they're from, those from the US n countries that have benefited immensely from a US imperialism will definitely don't want to khow, those who are victims will certainly want to know about this criminal system
@@yaoliang1580
I tried to tell the exact thing to people, and the people who really don't want to hear are the ones that have been in this country for the past 20-30 years from Central America. Cause they got it good now and they want it to stay this way.
Excellent education from Prof Hudson. Thank you.
Michael Hudson is so very knowledgeable in Economics, While I follow Yanis Varafoukis and Prof Richard Wolff religiously, Michael presents many things Ive never considered. Another excellent post.
I have been subscribing to every podcast that features Michael
Jaw-dropping. The more I learn, the lower my jaw drops.
Thank you for your integrity and courage to speak the truth.
Gotta love Prof Hudson's lack of filter when it comes to US Imperialism and the failures of the western left.
All of this is mute until we find out how successful the new BRICS is going to be.
BRICS isn't a socialist model in any conceivable way, not sure why it even matters so much to any of us @@dannysdailys
All of it is moot.
@@dannysdailys don't get your hopes up
@@dannysdailysthey were already bigger than G7 before the new members joined.
Venezuela having great chances to join soon which would basically result in a total energy dominance.
People in Europe and the USA need to wake up and stop with silly games like stealing frozen assets. Such action will only result in even more countries turning their back on the West
What a wealth of information. The world needs people like you to understand how it can move to unity and an effective UN.
Extremely good interview! I'm a huge fan of Micheal Hudson and I'm glad you have managed to get an interview with him. I'm a new subscriber! Keep up the good work!
This might be one of the best interviews I've seen in my life and I'm not sure I've ever learned as much in 75 min as I did watching this vid. Michael Hudson is peerless.
Yes I agree. I am 66 an accountant, and I found Professor Hudson's world view and historical knowledge refreshingly accurate.
Super enlightening, thank you. We all need to know this
I had always been suspicious of the World Bank's dealings. But Prof. Hudson's damning comments of the WB are the worst i have heard. And i can see why. I had just not been aware of their evil operations. An eye opener. Thanks.
Brilliant Micheal Hudson.We need more economists like Micheal in the top jobs in europe.His summary of Gaza etc at the end is spot on.
Dr Hudson unleased and on fire in this interview!
Best show of Michael Hudson
Hudson enlightening prof extraordinaire
Great discussion gentleman, covered many truths of imperialism.
Jai Hinduja. Finish them off.
Bedankt
Bedankt. We really appreciate the support. It really matters a lot. Solidarity, IGL.
Wow.... what an enlightening interview. Love the prof, and he is on a roll with clarity this time.....❤
The Great Man!!!
Love this man.
Brilliant conversation, thanks!
Thanks a lot.
Valeu!
The man is just great
Best statement of the video.... The Germans think Americans will never cheat them. Nor bomb their pipeline. 😂😂😂
Like hell! They have been screwed over by the US for decades. That’s not what happened
I think they don’t trust and never did
Prof Hudson = the people’s champion!
This is my first time ever listening to him. Wow. Bomb after bomb full of knowledge. These past 2 years have made me do a deep dive on everything and I’ve learned about people like Colonel MacGregor, Jeffrey Sachs, Richard Wolf, Larry Wilkerson, Karen Kwiatkowski… but he might be my new favorite. Thank you for this wonderful interview! Going to check out more and you just earned a subscriber!
Every thing you said is my sentiments exactly! Trust me you are not alone 😊 just cannot believe anything you hear on western mainstream media !
Fully agree. I believe that these people represent, regardless of their ideologies, the realist wing of Western thinking. This brand of thinking was virtually absent in major debates in the past, but they are a necessary complement to understanding the world we are currently living in. In that sense, these commentators are like a breath of fresh air. They are pragmatic, eager to see the truth beyond their own niche, and aware of the need for peace and respect for self-determination. Their opinions are much needed today as we witness the material consequences of the wishful-thinking-based neoliberal order unfold.
When New York City was a manufacturing center, it also had a strong union movement. By driving out manufacturing in NYC, the union movement was crushed.
Completely agree with Michael’s assessment of Paul Krugman. These days reading his column is no different from reading the ideology refuse from the State Department.
So good to hear sanity, humanity and real economic education from the people’s champion Prof Michael Hudson
An economist who uses common sense. ❤
Great talks, ❤ Prof. Michael Hudson.
It's always a pleasure and a great education to hear Professor Michael Hudson, bravo! Please keep inviting him back 👍
Professor Michael Hudson is right about dedollarization of reserves. By dedollarizing reserves, you prevent the US from using dollar treasuries to finance its deficit in term of military spending to attack, regime change, color revolution Global South countries. When countries like China, Russia, Saudi Arabia, Japan stops buying treasuries it prevents US from financing its debt, deficits cheaply. It forces the Federal Reserve to buy the debt since the US private market can only absorb so much of treasury issuance without the rates going up drastically. When the Federal Reserve monetizes this treasurie issue, it causes the dollar to go down which prevents the predatory tactics of US using dollar to exploit Global South countries. Luke Gromen, an investment manager, has said the same thing. That's why they force Saudi Arabia to store their reserves in US assets like treasuries, US stocks because if Saudi Arabia tries to do otherwise, US will declare war on Saudi Arabia or try to regime change it like they did to Iran, Syria, Iraq, Libya.
I need this explained to me in simple terms. So when foreign countries try to get rid of US dollars.. ok wait. First examine why foreign countries have so much US dollars... Is it because they're selling shit that the US buys, and the US buys it in dollars? Ok, so that explains why these countries have so much dollars sitting around. Next question is: why do they need/want to get rid of these dollars? What is the US doing that's making holding US dollars dangerous?
Awesome interview. Real valuable information.
thank you for this interview!!
Great discussion, thank you!
Thanks for having Prof Hudson on. He is so good at explaining reality.
As always thank you so much Professor Michael Hudson for the IQ boost.
THANK YOU SO MUCH
Ultimate true 💪👏👏👏👍🧠👏👏👏👍🧠mr. Michael Hudson
Thanks
Thanks a lot. We really appreciate it. It does matter a lot. Stay in touch, solidarity!
Excellent discussion. Thank you.
Nice discussion. Completed the whole show, very insightful
Thank you
Thanks, Professor Hudson, for explaining all of this in a clear and concise manner. Your depth of knowledge on such a wide array of academic areas from economics/finance to real-world geo-politics and history is very appreciated. If everyone knew what you know, we could transition to a peaceful, mutually beneficial multipolar world.
Hi Michael Hudson I watch all your appearances.
I am not a Number !
@crispycritter9163 No, you're not, you are a person.
Awesome interview! Thank you!
Thanks! Excellent work!
Very good show, great questions, great answers.....great interview
Good Initiative. Keep the work going
37:00 capital - head or top, I am, tally. Capital is your brain, your muscles, what you produce. If you do not have capital, you do not have production. Currency is not capital. People getting the job done is.
"The Banks today aren't what they were in the 1960s." Ex-Wall Street Michael Hudson. Do watch this! 👍🤔(IDF/Gaza at 1:09:55 )
I enjoyed Michael's analysis and commentary. Thank you.
Awesome! Quite interesting, I learned or confirmed what I already knew. I'm glad that it comes from some American voices at this moment in time.
Thank you Professor Hudson for the enlightening talk.
Mr. Hudson perfectly defines neo-liberalism!
Excellent Congratulations and thank you prof Hudson.
Excellent interview.
Well done.
Thank you.
Great talk 👍
This was an excellent interview! His description of the nuanced financial workings of the western financial system is a real eye opener, if you have a kid in high school, sit them down to watch this, they'll learn alot! I don't subscribe to left or right but I love the way he described the current political left wing...
World bank is more US Chamber of Commerce. Perhaps it should be called US Commerce Bank
What an education. Thank you for introducing me to this gentleman, I'll need to listen to this again for it all to sink.
Wealth distribution is a legitimate concern of the left but Hudson is correct to point out that wealth creation should not be the exclusive concern of the right.
Fantastic interview! It untangled a lot for me
This capitalism sounds like a racket!
It has been since it's adoption 400 years ago.
It is!
Try reading the WSWS site.
@@ppazpppaz8618 Sack of crap.
@@ppazpppaz8618 will do
Thank You For Sharing This Food For Thought
Very great interview!! Keep it up.
Excellent guest ! This guest made me subscribe to your channel!
Interest rate Is basically extra tax for the poor. Only poor people is affected by the movement of rate
Namaste, for this information and India's Yogis for their intelligent insights on the kind of world we live in, political Malice upon the human race.
Who the F is prof. hudson..?
He is powerfull, concise and true... thanks for the introduction..👍
Great interview 👍
Man that was great. Brilliant Mr Hudson. This is a textbook discussion about everything. Never mind ELon Musk and the internet of everything, this is the bollocks here.
Thanks!
Thanks a lot. It really means a lot, specially given we are facing some financial woes.
Chanced upon this channel. Liked the discussion.
Great work
He's a very good interviewer, and Michael is great as usual
Michael Hudson é sempre brilhante. É uma vergonha que os seus livros não sejam traduzidos para o português. Isso mostra o triste estado da indústria editorial em Portugal e no Brasil - preferem editar lixo ao invés de obras fundamentais como a sua.
It is said that one third of the money in the world is in tax havens. What happens to that money with the dedollarisation???
As bad as I know the US government to be I'm always shocked, listening to Hudson, that it is far worse than I can conceive of.
I'd rather be from America that whatever shlt-hole you are from...
It is a mighty Mafia, with an impunity and big deals, wordly deals, how bad can it be?
What would dr.hudson say about the shift in state and world bank economics after 1970? It looks to me like there was a big change from keynesian thinking that attempted to boost overall economy,to a more predatory role that enabled efficient extraction. Were friedman or austrians a major influence? Is modern economics at the reserve and US Bank unintentionally destructive?
Surprised that only 146 people watching a very important discussion. Is it because they already know what's being discussed or they just accept the status quo.
overworked trying to pay a mortgage? eat/work/sleep......research, what's that!
Views are now >17k. 📽️
We need michael Hudson to explain Chinese economy instead the economists from wall streets or the media
I worked for a UNDP funded project which was executed by the IBRD when Robert McNamara was the head of the World Bank. I dont know the financial arrangements but I thought the project brought much development to my country. The team of advisers comprised experts in the field of agriculture including fisheries, regional development, land rehabilitation, land development, personnel development as well as infrastructure development. That project was carried out in the late 70s. I left before the project was completed and have live abroad many years now and no longer keep track of developments of that country but I believe it has brought great progress to that country. I wish this interview was made then but then there was no internet or computers in those days.
The only other thinker in economics at the level of Dr Hudson is Dr Richard Werner, an expert on the banking system. 90% of Nobel Prize winners in economics serve the western financial establishment (Modigliani/Miller etc) - the recent exception being Angus Deaton.
You really need to check out “Steve Keen and Friends”
There is the public in any country, ignorent, sleep walking, electing leaders blindly, unaware of the play book, who may even be serving the bigger game knowingly or not, played slowly to strip them of their assets, and increase their cost of living, education, healthcare costs slowly.
As staged over few decades, they do not see the steps coming their way. Actually they themselves reverentially invite the same robbers, coming with a smile and sweet words to their home for advice.
The interesting thing is the advisers employed may not see how they are being used as pawns in a much bigger game, they also may think they are helping these poverty stricken countries. The game is so widely laid, slowly operated unless you know it, you will not see it.
Unless the public world over is informed, by teaching basic economics of how money function, debt function, and credit function, the game will go on.
You're spot on!
Will you please please remark on the story of the creation of the Federal Reserve written by G Edward Griffin's "The Creature from Jekyll Island".