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.