{"id":29560,"date":"2022-03-29T13:35:48","date_gmt":"2022-03-29T17:35:48","guid":{"rendered":"https:\/\/ssgreenberg.name\/PoliticsBlog\/?p=29560"},"modified":"2022-03-29T13:35:48","modified_gmt":"2022-03-29T17:35:48","slug":"michael-hudson-us-dollar-hegemony-ended-abruptly-last-wednesday","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2022\/03\/29\/michael-hudson-us-dollar-hegemony-ended-abruptly-last-wednesday\/","title":{"rendered":"Michael Hudson: US Dollar Hegemony Ended Abruptly Last Wednesday"},"content":{"rendered":"<p><em>Popular Resistance <\/em>has the post <a href=\"https:\/\/popularresistance.org\/michael-hudson-us-dollar-hegemony-ended-abruptly-last-wednesday\/\" rel=\"noopener\" target=\"_blank\">Michael Hudson: US Dollar Hegemony Ended Abruptly Last Wednesday<\/a>.<\/p>\n<blockquote><p>\nOn Wednesday, March 23, 2022, the United States announced that it would freeze Russia\u2019s access to its gold. Russia has the fifth highest amount of gold in the world. Economist Michael Hudson explains that this action, which follows the US seizing Venezuela and Afghanistan\u2019s gold and assets, has effectively ended dollar hegemony, which has been in decline in recent years, and the free ride that the US has enjoyed abroad.\n<\/p><\/blockquote>\n<p>The Michael Hudson part starts at 28 minutes into the audio.  As a follower of Modern Monetary Theory, I  am pleased that Michael Hudson straightened out the seeming paradox between what Hudson wrote in this  book &#8220;Super imperialism&#8221; and the rest of his writings about MMT.<\/p>\n<p>Where the financing of USA deficits comes in is in our foreign trade.  The deficit does not  finance domestic trade. Except for Michael Hudson and  Fadhel Kaboub, most MMT proponents have not talked about the foreign trade implications of MMT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular Resistance has the post Michael Hudson: US Dollar Hegemony Ended Abruptly Last Wednesday. On Wednesday, March 23, 2022, the United States announced that it would freeze Russia\u2019s access to its gold. Russia has the fifth highest amount of gold in the world. Economist Michael Hudson explains that this action, which follows the US seizing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-29560","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/29560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=29560"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/29560\/revisions"}],"predecessor-version":[{"id":29561,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/29560\/revisions\/29561"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=29560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=29560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=29560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}