Prof Michael HUDSON - De-Dollarization - Toward the End of U.S. Monetary Hegemony?

MGPE Seminar titled "De-Dollarization - Toward the End of U.S. Monetary Hegemony?" on 20 November 2019. (mgpe.ssc.cuhk.edu.hk/en/news/...)
Since the end of World War II, the United States has been the world’s hegemonic power. In economic, military, and cultural spheres, the U.S. has enjoyed nearly unrivalled supremacy. However, unlike past hegemons, which have been net creditors to the rest of the world, the United States is a net debitor; but this is a strength, not a weakness. U.S. debt is an integral feature of its economic dominance, through which the United States receives goods and services from the rest of the world in exchange for dollars it can print and keystroke into existence. Yet cracks are showing in the foundations of dollar hegemony, as countries look to find ways to escape from U.S. economic dominance. In this talk, Prof. HUDSON will discuss the prospects and challenges of global de-dollarization, and how countries like China may forge a way toward a different monetary system free of U.S. control.
Speaker: Prof. Michael HUDSON
Prof. Michael HUDSON is President of the Institute for the Study of Long-Term Economic Trends (ISLET), Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and author of …And Forgive Them Their Debts (2018), J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), America’s Protectionist Takeoff, 1815-1914 (2010), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), and Trade, Development and Foreign Debt (1992 & 2009), amongst many others. Michael acts as an economic advisor to governments worldwide, including Iceland, Latvia, and China on finance and tax law.
Moderator: Prof Peter BEATTIE 裴弼革教授
(mgpe.ssc.cuhk.edu.hk/en/facul...)
Prof. Peter BEATTIE is Assistant Professor and Assistant Programme Director of the MSSc in Global Political Economy at The Chinese University of Hong Kong, where he teaches political economy and political psychology. His published work has focused on the role of ideas in politics, and his research has been presented at conferences in Asia, Europe, South America, and the United States.
#MGPE #GlobalPoliticalEconomy #Dedollarization

[@shrimboy7492]

Michael Hudson is the MENTAT of economic. He provides the answer to the question "Why US spend so much on military?" So US can point a gun at the world and forced them to use the US currency.

[@onetrickpony4179]

The dumbest comment I've ever read...Hudson is a close second place.

[@hansrama3485]

My world view just changed after this video

[@Thefedisdead2024]

This is history and economics that should be taught in schools.

[@SportZFan4L1fe]

47:51 that's where I see China's BELT and ROAD INITIATIVE coming in. Use excess US Dollars to build infrastructure for trade through Developing Countries. Once this is complete, All Trade utilizing BELT and ROAD will be Denominated in Chinese Yuan or Domestic National currencies and NOT US Dollar. China grows economically as Developing Economies grow and the threat of US Financial retaliation is minimized.

[@elonmusksellssnakeoil1744]

It will likely be denominated in the BRICS currency by the NDB, as several nations involved in B&R have applied for BRICS membership, including UAE, Egypt, Indonesia, or are members of BRICS already like Russia. That is not to say China may not end up taking the lion's share of that trade value, however.

[@tonyca6943]

Too bad china's demographics mean they will be less workers than retired not to mention not enough national supplies, food etc on their own. Famine will come, punished by US. Poor winnie the pooh😅

[@lynnwood7205]

Wow! He answered my long held question of how the American Empire forces those who have commerce with it to pay for the cost of the protection of the trading routes. All empires extract reimbursement. I missed this for decades. Stunned. Thank You Professor Hudson.

[@lynnwood7205]

@@Jj-gi2uv Thank you

[@anamariacambiaso5852]

I follow Professor Hudson in social media. He is not only brilliant but he explains the current economical and financial situation in simple words and for all audiences. THANK YOU!!!!

[@ChanneLOL]

That's the sign of wise man ,he makes things easy to understand

[@practicalrussianwithtam4816]

Professor Hudson👍👍👍

[@dylannaenzo9737]

Best economic analyst ever. Many thanks to you, Dr. Hudson.

[@hlim431]

All hail Michael Hudson!!! One of the most brilliant minds in world economics today

[@terracottaneemtree6697]

I pray for continued success of Shanghai Corp - the only solution is to take the power from USA because THERE IS NO CHECKS AND BALANCES - people are sheeple oftentimes. Mind Control is a political tactic. Politicians get away with murder!

[@petertschann-grimm8442]

I'd say one of the most brilliant minds period! He always has the most accurate political critiques too, which are easy compared to his understanding of economics

[@raymondjacinto4880]

It will be a disaster for all American the Lost Social Security, Medicare, Government Pension, Private Pension, Banking disaster, a Disaster for "All".

[@dayveda3736]

You saved my life Michael Hudson. The truth is life giving. Thank you Sir!

[@rogerburn5132]

Michael Hudson is the BEST ECONOMIST EVER. I can listen to him all day

[@rogerburn5132]

@Azhag Dark jus to remind you that you are rong on some points. Yes M. Hudson is Marxist economyst. But there is 2 different points that Marx made. 1 is that the Government should control all means of production and the 2 is that all banks should belong to the Government. Michael Hudson supports the 2 one. But not the 1 one. Hudson believes in the free market economy. So for Lenin. Lenin wose in the fantasy land the same as Marx on the Government to control all means of production. Because if Lenin was clever then the Soviet Union would have been the most successful economy in the world (1917. - 1990)But it was the Biggest failure and misery inposed on the people..

[@rogerburn5132]

@TryllaTröllMaistre Fictitious Fables of Europa I don't think that Hudson is Politikal economyst he speaks the truth and how he believes things should be and that is great. There is others to like. Milton Friedman. and Dr Richard Wolf.. But the rest of the others don't even come close.. Excluding. Adam Smith.

[@rogerburn5132]

@TryllaTröllMaistre Fictitious Fables of Europa Markets are destroyed by Government not by economyst like Hudson or Fredman or Richard Wolf. Fredman advocate the to end the Federal reserve system. Government in the USA and Europe and England are to blame not the free market. The Government are making rules and regulations to favour some companies. Milton Friedman was (because he died) for free market. its the Government who made monopoly or allow that to happen. Its long story but I em trying to be short. The Government put tariffs and so on. So we have markets but they are not all free. Majority of the population in eny countries don't understand Anything about economy or finance. That is why we are were we are.

[@rogerburn5132]

@TryllaTröllMaistre Fictitious Fables of Europa you are right to a point don't forget that (you have said that you like high wages) how high the wages are depends on what you can buy with them not how much do you get. Example if you get 1 million dollars per year. But average house cost 900.000 thousand dollars. and you pay for food 20. 000 thousand dollars every month you see that you don't get much. On the other hand if someone in other country' gets only 20.000 dollars every year but his home it costs him only 2.000 dollars and he paid only 50 dollars every month for food he has more money than you. So high wages are not as you think that they are. and that was only examples. For tariffs I agree to extend that depends if the country has or didn't have mineral resources. Imagine if Germany put tariffs on still or copper (they don't have any in Germany its all in ports) then the price of cars and electricity will be 10 times higher. So everything depends from country to country. wages tariffs and exchange rate to. USA model is not the best its just because the dollar is (at the moment) World reserve currency. That is why in the US people (not all) enjoy better standard of life. But that will change with time..

[@rogerburn5132]

@TryllaTröllMaistre Fictitious Fables of Europa OK i em sorry that I have wasted your time I will Not bother you that is fine take care

[@lazywastelander5250]

Michael Hudson must feel like a clairvoyant given economic war playing out through sanctions right now.

[@LCTesla]

this should be mandatory listening in any class about the history of the last century

[@GETJUSTICE4U]

Any trade agreement with Washington is the kiss of death.

[@jrshield7793]

Any trade agreement with Washington is the kiss of death for the American worker. There.. fixed it for you !

[@onamemmet]

If you can make these things make clear sense to a lummox like me, you're excellent. This man is really brilliant.

[@user-li4xn6gm1f]

All for de-Dollarization ! That the key to the fairer, better, and more just World.

[@mikebacchus721]

thanks again prof Hudson for great history fron WW1 and WW2 to Korea Vietnam etc. and US dollars today

[@SH-jg5zq]

Eye-opener is the speech by Dr. Hudson! Just stunning!

[@elonmusksellssnakeoil1744]

This may have been the most informative hour of my entire life.

[@patriceortovent3337]

To be listen twice rather than once and taking notes as Micheal Hudson makes his explanations very clear to all of us about what to understand about our world economics system and the demoniac role played by the US for the last 70 years. Thanks for this great contribution Mr Hudson, most appreciated and useful to the people at large.

[@edwinsubijano263]

This guy is abnormally a genius !!! He just knows everything and can articulate them !!!

[@chavdarnaidenov2661]

What Michael Hudson could not forsee in the 70s were 2 processes. The world population tripled. Those who hoarded paper $ also tripled. This, and the looting of the USSR postponed the debasement of the US currency, but placed parasitic finance at the center of the economic organism. Second, out of spite and fear against the USSR the US allowed one country after another to industrialize. First Germany and Italy, then Japan, then Taiwan and South Korea, then China. Now it's panicking about China, so a developmental policy is proceeding unhampered in Vietnam and India. Two more of the former victims will become gigantic producers! And the US will not be able to absorb even more goods, so Asians will sell among each other. The West will return to obscurity.

[@aek12]

Mr hudson have high integrity and speaks truth

[@Po-village-chief]

Prof Hudson is the real thing and is the economist that makes the most sense.

[@csleuthone6385]

Absolutely wonderful Dr. Hudson your historical summary of our current economic malaise. I've read J is for junk economic's and have seen many of your interviews. Thank you for your wonderful work!

[@hau8072]

The closest analogy to El Capone gang milking the entire global community of their blood sweat and tears...

[@terryadams2652]

And if you show any of these facts to an American military personnel, they will say "That's a lie, we defend freedom & democracy around the world"

[@catrojana3694]

@@terryadams2652 that was the reason why some of them gone back in body bags.

[@terryadams2652]

@@catrojana3694 To live & die for a LIE. Everything they believe is a LIE, _even_ when you show them all the evidence, they are BLIND to the evidence, they refuse to see facts & truth. And why are they so willfully blind? *Because they are themselves corrupted by the social power (higher social status) of being "a hero".* To admit that the US government is a terrorist organization, would be to admit that YOU, as the soldier (or muscle) of the government, are really nothing more than a terrorist (and there's NO social power/status in being a terrorist). Therefore, a bunch of terrorists (the US military, who's job it is ENFORCE the foreign policy of the US gov) rape the truth as they call themselves "heroes". What a pathetic existence (and all their civilian "patriotic" followers worship them, even though they are the muscle of a corrupt elite/political class that wants to enslave the civilians).

[@GETJUSTICE4U]

@@terryadams2652 Agreed but maybe for most of the foot soldiers and support teams, it's mainly the pay check at the end of the month? Agreed, because no decent person wants to admit that what they do to earn a living is immoral and criminal. Well except for the psychopaths who are not decent people.

[@jackgoldman1]

I love Michael's wisdom. Remember, Michael is a Marxist. BUT, he is an honest Marxist. That I respect.

[@ronachadwick7908]

He is a genius.

[@GETJUSTICE4U]

The problem of voting for the lesser of two evils is that which ever you choose you still get evil!

[@chunlingtong6137]

Simple, DON‘T vote! 😉

[@zhangruyi3153]

March 2023: Well there is enough countries de-dollarization and the US is now paying the consequences of suffering high inflation. Oil is now sold in Yuan, Indian Rupees . . . Lots of countries are now selling US Treasury Bonds.

[@pausereflect5911]

The blatant truth told/explained simply.

[@richardlim2760]

My negative opinion of USA is further reinforced after listening to Dr Hudson’s talk - “fairness” to all is when the benefits are in America favour. Karma will eventually punish America for such evil and deceitful behaviour in the form of social and economic decay and decline.

[@ronachadwick7908]

My heart goes out to the american people who remain ignorant...

[@pecan11]

Many of u r learning and we don’t agree w this either

[@goldengate4463]

Hard to believe Michael Hudson is still alive for speaking like he does, that raises questions as to what relationship he has with the us government

[@arachosia]

He’s not a threat to the status quo. Maybe 1% of the population has ever even heard of him.

[@joshuasilverman8699]

He goes way, way back with the US gov...as he details here among other places. It's possible that those connections insulate him to some degree, but more likely that he's just too high-level to worry the establishment. Americans are too ignorant of history and economics to even grasp threat he describes.

[@jamiebrown8435]

@@arachosia the #s are going up. We gotta protect this man!

[@joycesin5697]

Best economic explanation of the ills of US dollars dominance. I have been enlighten beyond words by your talks. Joyce Sin

[@charitomunoz8537]

Great eye opening lecture. Thanks Professor Hudson.

[@elysium619]

Gotta love Michael Hudson!

[@andydondy6444]

👍👍👍👍May it come true so we can finally have peace and no more American wars😡😡😡

[@sweetlou1335]

Michael Hudson as treasury sec in Pres Sanders' cabinet.

[@kulturfreund6631]

Thanks a lot to Prof Hudson and all the contributors to the event. Many new insights for me.

[@kenzong8427]

this guy a genius.....

[@rogerburn5132]

The Best iconomist. Thanks Dr HUDSON

[@juhanleemet]

wow, he doesn't pull any punches!

[@lindamohamed5296]

Thank you for the History Lesson, Dr. Michael Hudson!

[@lynnwood7205]

The prosperity of the general billionaire class is the only general prosperity which matters.

[@Userkzb20253]

So clearly explained!

[@kennytheclown3859]

Hudson is a BEAST in the game!

[@jvs333]

Reagan was the perfect idea con man to shift our public treasury away from the public benefit/interest to the for profit private benefit/interest (the private corporate military industrial complex and the corporate Wall Street profit benefit/interest. Reaganomics was the when the rails of our peoples government was switched to the corporate government. Where government treasury and government structure is shifted from the interests of the public to the profit interests of private industry profits at the expense of the public who is left holding the debt of the bilking of public treasury. Trickledown was the greatest economic con job ever pulled on the American public. Fooled to vote for a “folksy con man” that was a hired front man for the Wall Street corporate / military industrial profit interest. What President Eisenhower (a republican) warned America was the greatest danger to our democracy. His warning came true

[@samonaro65]

It was all conspiracy theories before to me but this... is just straight up in your face facts!❤ How do Americans feel about all this and the possibility that all that printing might actually come back to haunt you all.. hyperinflation in US iss very much possible in the near future now

[@polestar5517]

Greatful for the lecture. Valid even today

[@thyseguye7458]

What a great insight, thank you.

[@costinhadacosta8474]

Thank God ... American hegemony is a thing of the past!

[@fajardrunaf6346]

awesome thanks prof Michael Hudson

[@davidwilkie9551]

Love the introduction. "The Law" as a study, is easily accepted in Principle, because it's the idea of levelized community, but the meaning of "believe half of what you see, and none of what you hear" comes around as half of the presented evidence is true, but you have to guess which half, and if none is presented, it's only a front for legalized fraud. Apartment banking is the same technique of sequestration as "Land Banking". And a disclosure of the facts is more useful to the deniers who hold up a mirror to reverse the half-the-evidence meaning of them, as the themes of the cited books were actually used. Until now, I've never understood why honesty and decency were so easily used against the people who believe in them, except in the cases where the actual Principle is established. Everyone has a unique idea of values by default, so how dollars are converted into the spectrum of market value is either de-dollarisation or re-dollarisation in some degrees of general perceptions. All sense of Financial value is relative and in the case of cold cash, crypto or gold etc, ephemeral abstract conjectures. (?) This talk is beyond excellent.

[@hansrama3485]

where did you get this... interested

[@davidwilkie9551]

@@hansrama3485 enough experience that causes enough stress to force thinking for yourself will eventually make you at least a little wiser, if you live long enough. Eg Michael Hudson's research is extremely impressive, a good reading of events, but none of us is identical to the other, so we have to make individual decisions about what is relevant, and we call the application of this collective mindfulness culture or organisation or whatever identifier seems to get the idea across locally. The Japanese have a reputation for Consensus, but we would need to ask someone there who shares our own Intuitive behaviours, to interpret. And Chinese I know have respect for Filial Duty, Americans have a similar attitude about Religion and so on. One person at a time is understood, many together are statistical, and that reflects directly from Principle. Therefore understand the Principle before making a Comment, ..and don't judge?

[@ttrons2]

Anglo saxon greed.

[@Citadin]

Anglos haven't been running the show in the US or Europe for a long time now.

[@antediluvianatheist5262]

Starts at 05:49

[@okramronan]

Wow. How come this does not have much view.

[@thomasd2444]

Sharing is caring tinyurl.com/tpjl5vs or kzbin.info/www/bejne/f5O6koGGdrhmb9U 27 DEC 2019 Also here tinyurl.com/y5f6sw2g or kzbin.info/www/bejne/nmWYc6KsoclqjM0 . 23 APR 2020 _________ michael-hudson.com

[@timmcmaster6435]

The truth the knowledge thx MH ❤️

[@Unclejamsarmy]

Hudson is the best - anyone know if the q&a section is posted somewhere? Seems unlikely but wanted to check

[@slovenasimkaras_ztelegrame3287]

In 2022.02.24 Russia finished this system. 😂😂😂 forgot to mention Brettonwoods

[@koltoncrane3099]

I would say Russia didn’t finish the system. Russia is more like China. Russia is playing chess and the US is playing checkers. Russia knew keeping US dollars or fx in the U.S. New York federal reserve would be a liability. I think Jim rickards is right. Russia kept money in the U.S. just some as they sold some and bought gold. Russia gave Washington something to steal so Washington stole Russias money showing to the world the U.S. dollar is not a neutral reserve currency. Russia simply set things in motion or prepared things but the U.S. did the theft

[@AK-ru9rs]

The beginning of the end I would say

[@freenational]

Excellent.

[@kevinjohnson9533]

Great talk by Michael, very relevant discussion. Crazy that Biden is carrying on Trump's de dollarization project.

[@thomasvogelsinger4007]

Brilliant

[@sebastianbalbo1906]

Bravo

[@lynnwood7205]

at about 29:00 Being an American veteran of two tours within Vietnam, and a witness to the unreal logistical system America achieved in the delivery of all manner of ordnance across Vietnam at all hours night and day, I must agree with his statement. The cost of the projection of force was justified to avoid committing another million American troops. We were Mad, as in the sense of insane. (But our possession by madness does not infer sanity to our opposition.)... added Jan 18, 2020. I meant that the justification for the immense cost of the projection of force was to avoid the commitment of an additional million or more American troops to Vietnam.

[@lynnwood7205]

@@Jj-gi2uv No. Opposition referred to those political elements within IndoChina directing military force against us and the political elements aligned with us.

[@thomasd2444]

Mandatory Reading moslereconomics.com/mandatory-readings/ kzbin.info . . kzbin.info/www/bejne/hIW8equleZd0gsk . kzbin.info/www/bejne/rZ6bgHh_f95nbqM .

[@thomasd2444]

@@Jj-gi2uv - www.loc.gov/resource/rbpe.24204300/?st=text . The work, my friends, is peace. More than an end of this war [WW2] -an end to the beginnings of all wars. Yes, an end, forever, to this impractical, unrealistic settlement of the differences between governments by the mass killing of peoples. Today, as we move against the terrible scourge of war-as we go forward toward the greatest contribution that any generation of human beings can make in this world-the contribution of lasting peace, I ask you to keep up your faith. I measure the sound, solid achievement that can be made at this time by the straight-edge of your own confidence and your resolve. And to you, and to all Americans who dedicate themselves with us to the making of an abiding peace, I say: The only limit to our realization of tomorrow will be our doubts of today. Let us move forward with strong and active faith.

[@tschoong3897]

The wild west revived.

[@redkellyre6568]

thank you Professor Michael Hudson for the IQ boost

[@steffenopenheimer3601]

this guy is really smart...i would like to know his reaction now in 2022 when the so called de-dolarisation is on highspeed....already China-Russia, Iran, Venezuela, Cuba, started to rad ein their own currency..and more and mroe countrys started to join...Argentina i think entered the club 1 or 2 weeks ago and moslty of central asia countries as well...Vietnam Laosm Mianmar, all are in the club....i would like to see a EU country entering the club....when that ll hapend USA as world reserve. curency its on last 5 years of life

[@tom-od5zm]

Who is that music?

[@MonkeySpecs301]

US is gangsta.

[@joshuasilverman8699]

damn right

[@MrDXRamirez]

“Time” is not a one-dimensional phenomenon. In capitalism time is money. Money can tell time. Money can tell if the job you were assigned was completed. It is money that does all the talking in capitalism. What makes a diamond so valuable is time and time alone. Human labor cannot produce a diamond. Nature alone produces the ore. So it should be conceivable that the longer the time it takes to produce a product the more valuable it will be as no wine is fine without time. All other products share the same substance in varying amounts...if today’s harvest takes twice the time it took last year the more value it will contain the happier the capitalist farmer will be. Thinks of what this means... a drought interrupted and doubles the time it takes to grow the crop...this consequence makes the harvest more valuable to the farmers. Here’s another example; the longer it takes... and for as long as the equipment lasts a mining operation for gold and precious metals will be valued by how many weeks, days and hours was the extraction process going on for that metal. In a capitalist world it becomes profitable for humans to dig holes indefinitely on the earth’s surface because the longer they dig the more valuable the haul. This is strange behavior. The Egyptians, Romans, Inca, Maya, Aztec, Chinese, all spent their weeks, days, and hours building pyramids, monuments of stone, to an excess degree and we dig holes, bore, rinse dirt and leave poc marks on the Earth’s skin searching for precious metals because in money terms precious metals is an infinite stream of cash.

[@petergraham8415]

Very honorable people. Whom in I trust as in stewardship. Love 💕💕💕💕 is.

[@ninirema4532]

🙏🙏

[@cheikh_anta_dioplivraria1689]

00:40:00 00:46:00 00:38:00

[@ralphdary4182]

The "Mechanics" of The U.S. going CBDC are normal. Decrease the Fiat, paper, dollar(tangible currency) Paper and CBDC in dual circulation would cause outrageous Inflation! Treasury's, such as I-Bonds have existed for decades! Banks and Investment Houses have gone Digital! The U.S. is in transition! I mean an Economic practice is shifting from Fed. Wire in the 1970-1980s to another "system" and now it's going totally digital.

[@jentorninos.ballen9269]

Anu pang PAG siraninyo sa Buhay ko gagawin ninyo LAHAT masaya na kayong LAHAT sa PAG sira sa Buhay ko Anu pa papatay nalang ninyo Ako mataposna to PAG hihirap ko yon lang Ang kulang para maging masaya na kayong LAHAT sa ginawa ninyo sa buhay ko na sirang sira na sa kakahiyan

[@chrispaul9035]

Does he mean "America had all the gold" or "people who called themselves American" had all the gold. Vietnam was about Land Reform according to David Mitchell.

[@thomasd2444]

75% of monetary (Au) Mandatory Reading moslereconomics.com/mandatory-readings/ kzbin.info .

[@ernestkumeh3800]

IMF is a small office in the Pentagon basement? Could you please explain this? Not clear to me why Prof Hudson said that.

[@josephuspeterfranks6988]

It was humor; it's not actually located in the Pentagon basement, but the way the IMF acts, it might as well be.

[@kariukikiragu]

And imagine this was before the Ukrainian SMO…..

[@johnsmith5139]

cant scud the hud!!!

[@seriouscomedian9051]

best comment

[@AnthonyTolhurst-dw1nc]

History is Bunk. (Henry Ford) It is whoever writes it, wants it to be. PERIOD.

[@hansrama3485]

i got the same feeling from this

[@rollinkendal8130]

From my anti CCP comments on KZbin, I would never consider going to Hong Kong for fear of disappearing.

[@qake2021]

👍👍👍✌🏻✌🏻✌🏻👌👌🏻

[@americancivicsinstitute6801]

JAK

[@ca7chi]

13:25 - funny moment

[@lynnwood7205]

So few views?

[@thomasd2444]

Lynn Wood - Welcome to the inner sanctum !

[@laurencevanhelsuwe3052]

@@thomasd2444 Indeed.. a pretty lonely place. Sometimes I wonder whether it's worth my enjoyment of life to learn all these dark truths.

[@lynnwood7205]

@Harry Kiralfy Broe I do.

[@ChanneLOL]

Dollar is biggest scam

[@pecan11]

It’s not the biggest scam. It’s the wealthy ppls way of screwing the pooch and it’s weaponized BY THE ELITE. We didn’t use to be this way and when u all voted for Reagan but Clinton was right up there with him, and bush etc YOU HELPED THEM DESTROY US

[@pecan11]

No it isn t

[@spiritofgoldfish]

Today, the statistics are good. They reveal that 50 percent of the world’s wealth is in the hands of US-based corporations, even though the national account, GDP, is not anywhere near that. Chomsky, Noam; Waterstone, Marv. Consequences of Capitalism (p. 170). Haymarket Books. Kindle Edition.

[@anntalbot1071]

I misspoke not Soviet Union but Russia. Hope I didn't make any other I rely on the education and understanding of the reader

[@GAL999]

USA is like City of Qarth Game of Thrones

[@ninirema4532]

🙏🙏🙏🙏🍎🍎🍎🍎🍎🍎🦃🦃🦃🐓🐓🐟🐟🐟🐟🐠🐠🐬🙏🌻🌈🥬

[@patrickmccormack4318]

Is the "university" friendly with the Confucius Institute?

[@peterbeattie5449]

Quite the contrary - CUHK was originally founded with help from the CIA, but today it is an independent university with a diversity of views.

[@ArnoldvanKampen]

Dedollarization for dummies, or what? I think I have to listen this one more time.

[@practicalrussianwithtam4816]

about stories, songs, politics, medicine, films, vocab... 👌👍

[@mrzack888]

crypto tech bypasses the need for SWIFT and lessens the importance of depository institutes. There are poor people in this world that dont have a bank account but have a smartphone and can use WeChat pay, Alipay and cryptos to buy store and sell domestically export globally all without need access to banking. Also, countries being sanctioned by US hegemonic practices can bypass the need for USD and bypass the sanctions thus do trade with other nations. So yes, crypto tech (self accounting mechanism) is a big game changer.

[@TheThundercow]

It also holds the potential to not just break US currency hegemony but ALL currency hegemony. Its a big win that guarantees much more freedom for the small powers of the world.

[@mrzack888]

@@TheThundercow banking the unbanked. putting money into the power of individuals and not banks.

[@stephenvanwoert2447]

Poor people do not run the world.

[@mrzack888]

@@stephenvanwoert2447 due to the current structure. But with cryptotech and decentralized crypto it puts the power into the people. Also, the Chinas digital currency allows direct central bank to the people's wallets bypassing banking.

[@petrosros]

WW1 started because Austria invaded Serbia and was being defeated, Germany then joined Austria, and it all kicked off from there. That is an unescapable fact that Herr Hudson seems not to understand.

[@TheOnlySaneAmerican]

I love our monetary hegemony. USA rules!!

[@seventian6117]

unless you have big nose,

[@chunlingtong6137]

🤒🤒🤒

[@kamilkarwat2706]

I respect the Dr but I think he's wrong about ww2. The Nazis were against Bolshevisome and socialism.

[@stephenvanwoert2447]

"Nazi" is a contraction for National Socialism.

[@IsraeliteBrotherhood]

The REAL Israelites ran into Africa during the Babylonian wars,2 Kings '25;26 And all the people, both small and great, and the captains of the armies, arose, and came to Egypt: for they were afraid of the Chaldees. Those Hebrews Never ever return from Africa, Egypt is the Sahara, when the Exiles the 1% came home from Babylon in 538BC Ezra Nehemiah Haggai Zechariah Malachi 430BC, the Hebrews ran into Africa during the Babylonian wars Never ever came home out of Africa to be reunited with the ones freed by the Persians,, The 99% the whole Hebrew nation say they was going into Africa to live,an they We Hebrews was abandoning the Covenant for Egyptian religion where we was enslaved from, Jeremiah44'15 Then all the men which knew that their wives had burned incense unto other gods, and all the women that stood by, a great multitude, even all the people that dwelt in the land of Egypt, in Pathros, answered Jeremiah, saying,Jeremiah 44'16 As for the word that thou hast spoken unto us in the name of the LORD, we will not hearken unto thee.Jeremiah 44'17 But we will certainly do whatsoever thing goeth forth out of our own mouth, to burn incense unto the queen of heaven, and to pour out drink offerings unto her, as we have done, we, and our fathers, our kings, and our princes, in the cities of Judah, and in the streets of Jerusalem: for then had we plenty of victuals, and were well, and saw no evil.Jeremiah 44;18.But since we left off to burn incense to the queen of heaven, and to pour out drink offerings unto her, we have wanted all things, and have been consumed by the sword and by the famine.WHOLE LAND was empty Jeremiah 44;2 Thus saith the LORD of hosts, the God of Israel; Ye have seen all the evil that I have brought upon Jerusalem, and upon all the cities of Judah; and, behold, this day they are a desolation, and no man dwelleth therein,Those Israelites ran into Africa an was enslaved during the Trans A Slavery Trade , we fulfilled the Curse

[@MrPathorock]

The US will creat a new currency very soon

[@wolfsden3]

Vote Libertarian 💯 noobs 🔥🔥🔥

[@michaelfitzgerald434]

Clown!