Impact on the Global South: Michael Hudson and Jayati Ghosh on de-dollarisation and multilateralism
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- เผยแพร่เมื่อ 29 เม.ย. 2024
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This video is part of two separate podcasts we did with Michael Hudson and Jayati Ghosh. We asked them about de-dollarisation and how it impacts the global south countries.
You can watch the full video here:
Michael Hudson: • Michael Hudson: US imp...
Jayati Ghosh: • Prof. Jayati Ghosh: On...
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#dedollarization #globalsouth #africa #southasia #pakistan #srilanka #india
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Scarcity will also be weaponized and privatized, as seen recently with the case of COVID vaccines (2021-22) to control and restrict people, while serving the larger interests predicated not so much by human beings as much by technological maxims and models of infinite growth, assimilation and acquisition. Interests and plans which aim to destroy the very biological integrity of advanced and primitive lifeforms-including human beings. Unquestionable technological innovation also requires infinite energy and distribution. Human energy use, be it as per “Net Zero” or “business as usual” or be it non-renewable versus green colored, be it for an Indian or American, will rapidly decline at a global scale during the next 50 years. There is zero evidence at hand, that money, free markets, legislation, progressive institutions and mainstream economics can self-correct and make the right decisions. Hell no!
Michael is a proper honest human being.
Hudson is a treasure chest of information, truly a master wizard❤
Brave and Brilliant Economist of our ERA Dr. Michael Hudson 👏
De-weaponizing the Dollar will happen, whether USA likes it or not
Absolutely Fascinating! TEAM DE-DOLLARIZATION & TEAM BRICS+ NATIONS ALL THE WAY!👍🙂
WELL DONE tovarish, keep up the good werk!!
10:00 which was why the "corporation" was invented, to shield capitalists from liability.
Nice compilation.
I love this man!
👏👏👏. our love ftom Greece 🇬🇷
So much knowledge here. Would Love to see him debate Krugman.
The world finally waked up to US monetary hegemon ✌✌✌
Guest is exceptional.
Hey Mr Hudson, don't denigrate this channel even though it may not be new york times. I don't know who you are but I definitely follow this media source which I co sider excellent.
The beautiful lady should be first asked to understand what is trade credit and time taken, the lass may explain the indigenous concept of cave men who talks about trade off in the era of finalcial stability and securing credit standings, the she shall understand civil and criminal chages and then she can wear the beaty crown that she deserves from her notion of education.
national reserves could be gold, but why not aluminum? if i had the ingots that are used by most processors, i would know they would be worth money for a very long time.
copper is 4.59. i don't know if that is asking price or what, but that has a ton being about $10k. and you don't need any fancy vault to store ingots that weigh a ton each.
No because aluminium or anything like that are too unstable. Gold is not used for its industrial applications, it is used because it is in extremely limited quantity, deflationary and just has a good track record since last thousands of years.
Michael raqs!!
Krugman is punk !
Why do the left keep talking about climate and covid? Do you not think its odd that on these subjects ye agree wholeheartedly with the capitalist ruling class?
The ruling class are oppertunists and the most convincing lies actually possess some element of truth.
That the ruling class never let a good crisis go to waste is why. Also the most convincing lies actually possess at least some element of truth.
@@SofaKingShit Yes there is, the weather changes. And every year there's a pandemic of flu. But why do the left agree with the capitalist class the solution to weather is avoid talking about pollution and put extreme taxation on the poor Accordingly the only way to deal with the flu is to mandate expensive experimental drugs?
?
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It will never happen international trade demands and strong and resilient currency, and no other currency comes close. You don’t understand this very intertwined and complex scheme of which you talk about. By the way that means staples like American gas and milk ( not to speak about other foreign markets that don’t have a stable and common value to trade) would go up ten folds and that is not happening without a war. It would be bad for America to have its currency dethroned, but seeing there is no currency that comes close to the Dollars value in foreign markets, it would be so much more worse for every country other not to trade in a common currency.
Said someone of the British pound being the global reserve currency 50 years before it went the way of the dodo I am sure.
not so. lots of countries have every ag product you could want. russia has gas. saudi could sell more hc if it wished, and so could venezuela. china can build you a refinery fast. usa sells financial services of no real value. we sell lousy overpriced war toys, trash aircraft, and chemical laden ag products. we could dissapear overnight and nobody would need much of anything. you may think spare parts for fords come from ford but they don't. the aftermarket makes almost anything. china can do it better for less. india has lots of workers but needs machine tools and such. russia makes those. stalin built heavy industry to protect russia with, and they still have lots of it
@@Nine-Signs so bartering, yeh I’m sure that will work, I wonder why we left it, all so long ago!?!
@@idicula1979 Bull crap. The only reason why the US dollar became the global reserve currency is due to two world wars (WW1 and WW2).
1) gold flowed to the US during WW1 and WW2 for safekeeping
2) after WW2, US global GDP is 50% global and also had 65-70 percent of the world's GOLD
3) that's why the US Dollar became the reserve currency in the 1944 Bretton Woods agreement
4) but due to the Korean and Vietnam wars, the US printed so much money and US dollar accumulated in Vietnam's central bank which the French owned so those US dollar got transferred to France and Charles de Gaulle sent it back to the US in exchange for GOLD. This forced Nixon to remove the US dollar / Gold exchange
5) The Petrodollar deal of 1973-1974 with Saudi Arabia put the demand for US dollar back in business, with every country in the world desperate for US dollar in order to purchase OIL and GAS
6) This is how the US exported US dollar throughout the entire world, by having everyone desperate for US dollar and the US was able to run up a huge trade deficits with the entire world
7) the US NUMBER ONE export is US dollar so all these trade surplus countries ending up holding their surplus US dollar reserves in US treasury bonds
@@dhttubegood job well done, bro. The US has taken the benefits of the USD for evil doing to lord over every country to destroy those who don’t submit to them. They will strike havoc instilling fears with all sort of anti government activities to get regime changed and will also invade if needed, to achieve her goals.
Instead of rendering constructive ideas and provide assistance to help the poor countries to elevate their bottom status, they reaped the country on whatever they can as bully.
Unfortunately, they forgotten that nothing last forever. As they continue to weaponise their tools of leverage against countries increasingly and went overboard somehow in the recent conflicts with the Russians by trying to squeeze them out of business as usual and steal Russia assets in their home turf.
At the same time, they also have many self created conflicts with many other country. What does this kind of behaviour tells us? Your guess is just as good as mine.
I possess a dull and lacklustre intelligence so l inevitably have to repeatedly listen a few times l but when the penny finally drops it's like a sunrise of blessed comprehension in my dim little world.
Bravo