Michael Hudson the post Super-Imperialism at the Pentagon on his website. You can read the transcript there, or listen to the audio.

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 clear: You buy US government bonds, most central banks do not buy stocks or companies, they buy government bonds. At least that was the case until recently.

They talk about Michael Hudson’s 1968 book, Super-Imperialism : The Economic Strategy of American Empire, which I have not heard about before. However, this interview explains what you need to know.

I am sure I have read his biographical blurb before, but I was reminded of it by what was included with the interview.

Michael Hudson grew up as godson of Leon Trotsky. Today, the marxist US economist is considered a renowned financial expert. The analyzes of the Wall Street connoisseur are correct. Even the Pentagon is interested in his models. “Russia and China challenge nowadays the US financial empire,” he explains in the exclusive Sputnik interview with correspondent Alexander Boos.

Naked Capitalism has the article China’s Mountain Of Debt Is About To Crumble.

Hordes of China’s private firms are now going under after guaranteeing other’s loans.

I think it might have been Steve Keen that has been talking about the Chinese debt crisis for a long time. Since I knew Keen was a firm believer in MMT, I couldn’t understand why he was so concerned about debt in China. Someone finally woke me up to the fact the problem was private sector debt, not government sector debt. Lately, I have been reading what Michael Hudson has to say about private debt to the rentiers in the FIRE sector in the USA – similar results will ensue.

Perhaps the solution is for the Chinese Central Bank to go into the retail banking business of lending to the under-served parts of the private sector. As we have known since Keynes explained this in the 1930s, just pushing money out to institutions does not make them spend it the way the government wants them to. At some point the government has to spend the money directly to the recipients it wants the money to go to.

The Sanders Institute has the video Foreign Policy is More Than Just War and Peace.

Foreign policy is more than just war and peace, it is a nuanced and complex issue that directly affects us here at home. In this interview, Dr. Jane Sanders sits down with Representative Tulsi Gabbard to talk about U.S. foreign policy and how it affects us here at home.

As far as I can tell, this was published on Nov 14, 2018.

Once you view this video, I think you will understand why the oligarchs’ news media is trying to demonize Tulsi Gabbard. We have to fight that demonization, tooth and nail.