Michael Hudson has posted a transcript of hi interview Inflation and Illegal Repo Loans.
Economist Michael Hudson explains inflation crisis and Fed’s secretive $4.5 trillion bank bailout.
I don’t know how I could have missed this article that is now over a month old. I wish someone would just publish a straightforward description of what a Repo loan is. I think I have figuerd it out from context, but I have never seen a formal definition.
RT has the article UK outlines efforts to cut Russia from SWIFT.
The UK government is working to cut Russia from the SWIFT international banking system, after the US said it would not be taking that step.
I take this article as an excuse to ponder over some realities.
Modern Monetary Theorists say that the USA will never run out of money to buy anything that is for sale in USA dollars. Mentally, I always complete that statement with the question what about things the USA needs that are not for sale in USA dollars? What could that possibly be? Since China is already holding trillions of dollars in USA treasury securities, what if China started demanding payment in gold?
If the USA cuts Russia off from the SWIFT system, China could either decide to also opt out, or at least cut down what they are willing to sell us that depends on the SWIFT system. How long can we keep up the sanctions against Russia and China?
I wonder if the people in the USA government ever think two moves ahead when they plan actions as big as sanctioning Russia. How many steps ahead do you think Vladimir Putin is thinking?
Richard Medhurst has the podcast NATO Too Weak to Face Russia: Scott Ritter on Russian Offensive.
Richard Medhurst: #RichardMedhurst is an independent journalist and commentator. Regular live streams and interviews with popular guests from the Left such as Glenn Greenwald, Mike Figueredo (Humanist Report) and Max Blumenthal (Grayzone). Fluent in English, Arabic, French, German, and having grown up across several continents, Medhurst’s show aims to provide a critical analysis of electoral politics and international affairs from an anti-imperialist viewpoint.
Be prepared for a shocking dose of reality.