You comfort me so much, Mr. Wolff. You return me to sanity. I feel very isolated living in a world that fears to talk about this sensibly. Most of the time I feel like I live in 1984.
Honestly my favorite duo along with Rhadika Desai and Michael Hudson. They really bounce off each other so well, it’s almost like watching Gandalf and Radagast share their wisdom of what’s to come in the world lol Them, Dimitri Orlov, Andrei Martyonov, and Dr. Doctorow for sure my favorites.
Good presentation from Dr Richard Wolff. Though BRICS will only get stronger, their common interest is like gold binding them together. Regarding differences, well, Varietas Delectat 🎉
What USA ? The government respond to Israeli Orthodox elite and in these times Netanyahu has probably more control on what congress and state dept do than anyone else. It’s not USA giving up democracy for Israel, it’s Israel exposing their infiltration to go for the greater Israel project. Even if it’s exposed they use media manipulation to sleep people plus other techniques which they are good at.
Thank you, Michael Hudson, for bringing it to our attention what BRICs is stating officially about Western sanctions. “We are deeply concerned about the disruptive effect of unlawful unilateral coercive measures, including illegal sanctions, on the world economy, international trade, and the achievement of the sustainable development goals. Such measures undermine the UN charter, the multilateral trading system, the sustainable development and environmental agreements. They also negatively impact economic growth, energy, health, food security, exacerbating poverty and environmental changes."
Yes, the U.S. has too much debt. I agree with Richard D. Wolff. The answer is to tax corporations and the rich, and also not to pay bondholders. Eventually, we are going to have to face reality, and slash the military budget, and go through an austerity program to reduce our debt. The most obvious way to a viable future for the United States is to shift our relations with other countries to cultivate friendship, goodwill, and cooperative efforts. This means that we have to stop all the military operations and meddling in the internal affairs of other countries, maybe even shut down the CIA, stop the economic warfare, stop the research on biowarfare, shut down the mlitary bases all over the world. Just shifting our basic posture from offensive, hostile and confrontive, dominating and controlling to accept a multipolar world, and to forge the oppostie kind of relations with other countries based on respect, goodwill, friendship, caring for others, kindness and compassion. That's the new paradigm of an evolving spiritual consciousness. That's how we go forward.
Yesterday, Alex Krainer and today, the Hudson Wolff team? The information content is so vast, that my head is spinning. For an educator, I believed the BRICS summit would provide an exciting window in the global future. You want denial? Several parents feel it is a Russian conspiracy, and it is not allowed to be discussed.in class. I was astounded as these are high school student that need and want to understand the forces that shape their world. They rely on "X" -- your discussions have provided some provocative topics I might sneak in! Thanks!
Found this out today listening to Arron Matte this is a direct transcript of what Zelensky said in March 2022. There are those in the west who don`t mind a long war because it would mean exhausting Russia even if this means the demise of Ukraine and comes at the cost of Ukranian lives. This is definitely in the interest of some countries.
Russia became the world's fourth largest economy by GDP (purchasing power parity, PPP) in 2021. The World Bank's revised data confirmed that Russia surpassed Japan to claim the spot, after previously ranking Russia as the fifth largest economy
36:25:- Answer A corporate oligarchy so effective, so advanced that its citizens still call it a democracy. Free America from the Federal Reserve Act of 1913
I always thought the West did not expect Israel to survive for any length of time. Poking the Russian Bear has never been smart. They have survived many horrors over the centuries.
Many US outsourced jobs in China are being moved to Vietnam and other cheap labor sites in Asia and even Africa. This is the action of US multinationals in part because Chinese labor is becoming to expensive. This is the main reason for Vietnam's explosive growth. Even the likes of Ethiopia, Malaysia and Indonesia are benefiting from this realignment out of China. Start looking a labels of products in the US to see this phenomenon.
Tariffs on car imports from China to the EU will be 35.5% from November 2024. This hits German automobile companies which produce in China and export to the EU. The German automotive industry is finished.
The problems that beface BRICS MEMBERS and Aspiring ones, as a picture has to be captured like this: 1) The trade and debt that non west countries have with the western system. So the first thing is that the money lent through the IMF and the austerity demands by the IMF are completely antithetical and criminal ones against the debtor country. 2) The debtor countries cannot move forward ie develop because typically colonial vampire states will never allow development and wealth of pple to rise because then the profits and enslavement of those countries by the vampire states will diminish. As one can see the other development pathway via the BELT & ROAD INITIATIVE is actually very highly accepted (150 countries participating and many western states too). So this is possible in BRICS TOO but not reqd. You only need a number of countries that represent the region to have representation as long as veto power is not in the hands of the powerful only. Also the weaker/smaller countries should form blocks to be able to have equitable say in the BRICS BLOCK. AT the moment G7 (GENOCIDE 7 STATES) have control of most wealth and power in the world. The central banks issue credit and most of it is syphoned up to the top 1% of pple in the world. Those excess funds are used not in the economy but in setting up financial bubbles in share markets and in housing/property. PROF Richard Werner has exellent vdos explaining what goes on. The shares bubble in USA is actually legal that corpirations can buy back 25% of their own shares per week but less than 100% in one month. THAT SHARE BUYBACK IS A MECHANISM TO DEPLETE THE MARKET OF THE PARTICULAR STOCK, ALLOW THE PRICE TO RISE THEN PUT SHARES BACK ON MARKET SLOWLY FOR SALE WITH A BIG PROFIT FOR THE CEO, BOARD OF DIR' AND FOR OTHER SHAREHOLDERS.
Mr. Hudson is. Claiming that Saudi is not standing up to Israel and that it is really, willing to give Saudi Arabia and it's oil, to Israel but it will take the Money with them. How can anyone make such Extreme Statements?
Wolff @ 11:50 "..for example really for the first time couple of years ago Bond holders were unwilling to continue to fund the deficits of Great Britain and the Prime Minister [Liz Truss] .... didn't understand it went right ahead and proposed what people told her she couldn't do. She was sure she could do it and she went ahead and did it and and she's she's out of there..." It's not only the ex UK PM that doesn't understand MMT Mr Wolff, you too do not properly comprehend the operational realities of central bank management of fiat national currencies. In 2022 the UK had already fully exited the Eurozone - it had regained full monetary sovereignty - as such the UK govt. could most certainly have funded that proposed fiscal deficit. (See Japan as an example.) Bond holders DO NOT fund a fully sovereign nations deficit - bond issuance is a monetary operation solely to regulate the daily CB cash rate. That is an irrefutable, verifiable fact. Ms Truss, a neoliberal conservative unnecessarily, willingly surrendered to bond vigilantes. I suggest you read Prof Bill Mitchell's Billyblog article "British currency gyrations are about weak government not fiscal deficits" for a detailed explanation. The London financiers knew full well that weakened Truss PM could be bluffed by their hollow threats. Then to compound your error you conflate Eurozone (France) debt with UK debt. "... Mr Macron is now heading right down that that same path. Bond holders have told the French that they are not going to continue to fund their national debt. [it] is now over well over 100% of their GDP." France is a currency user - of what is effectively a foreign currency the Euro. Mr Macron cannot issue unencumbered Euros - only Brussels can do that. Macron is indeed at the mercy of the bond market if he seeks more Euro liquidity - just like a US State borrowing USD privately. @16m "... listening to the Modern Monetary Theory as a license to go ahead and basically print the money as you need it and I don't mean to demean MMT, they made an important contribution. They taught people what they should have understood anyway but in any case there's a problem here..." MMT does not say "go ahead and basically print the money as you need" - MMT always places spending impact (inflation) as the primary consideration.
WE ARE EXPERIENCING THE END OF ANGLO-AMERICAN CAPITALISM Current capitalism is mainly an Anglo-American fact and this is no coincidence. Two facts are at the origin of this globalist capitalism. The first is that England has been the dominant maritime power since the 16th century. This allowed it to move all over the planet and take over entire countries that it was able to colonize. But that was not enough. It took the industrial revolution which was born in England and which allowed it to industrialize the country, to mass produce and thanks to its navy and a small well-equipped army, to subdue entire nations like India and to make these territories inexhaustible sources of free raw materials and impose forced labor and consumption of goods produced in England on the populations. This is, in summary, how Anglo-Saxon capitalism was born. This system made England an empire on which the sun did not set. Then came the wars of 1914 and 1939, the hidden aim of which was to maintain British domination over the world, which was increasingly contested by Germany. What followed was a miscalculation which ultimately ruined the English empire and with it Europe. The big winner of these two wars was the United States, whose territory was not ravaged and which, instead of going into debt, became scandalously rich. What happened next was predictable. The United States cleared the British from previously conquered territories and replaced them there to establish their own empire on the same model, that is to say the theft and plunder of the wealth of foreign countries for the benefit of the great American capitalist monopolies and incidentally English. But the sixties saw countries revolt and demand their independence. This thirst has only grown and accelerated and thanks to the existence of the Soviet Union, these countries have often found the necessary support. Today this Anglo-American capitalism is dying because their victims are now strong enough to resist the plunder and thanks to China and Russia now have the possibility of joining an alternative economic system. This is, in a very summary, the history of Anglo-American capitalism which has lasted almost 500 years. No longer able to plunder other countries as before, it survived a few more decades by going into excessive debt but its debt became unbearable. If we add the migration of large fortunes to tax havens which worsens the public finances of the United States and other G7 countries, the result is an economic and financial crisis which will sweep away the entire system. The United States tried to save its system by repeating the 1990 attempt to pluner Russia by declaring war on Russia in Ukraine, but for a second time President Putin foiled this plan and this strategy backfired perpetrators and only made the situation worse. The Anglo-American economic and financial system, which in fact constitutes a huge pyramid scheme (ponzi system), no longer finds victims to slaughter, steal and pillage. In his last burst he attacks the middle classes and their economies but this remains insufficient. The debacle is therefore imminent and everything will be swept away. Why Capitalism Needs Imperialism To Drain Wealth From the Global South, w/ Economist Utsa Patnaik th-cam.com/video/6RF5vx1W_kk/w-d-xo.html
Great write up but you missed out bits and pieces on the details of those who were really pulling the strings behind the scene. America went through a civil war and the side that won the war eventually lost the fight for the body and soul of America, that is one of the reasons why the empire transition deal between the US and UK got sealed without any hassle. They became one and the same.
if Australia and Canada applied to join BRICS it would signal an erosion of the past (imperial) security arrangements and signal collapse/change to all perhaps dangerous geopolitically but all contracts with U.S./Crown are one way both "Commonwealth" need their Independence based on Tribal Governance in a Trustee / Land Lord in House of Review for Land Law
Why can't we have a man like Richard as President ? Why do we only get to choose between 2 clowns ? (Although we have other candidates but everyone is intentionally ignoring them).
Russia, China and Iran are on the right side of history, US and Israel are on the wrong side.
You comfort me so much, Mr. Wolff. You return me to sanity. I feel very isolated living in a world that fears to talk about this sensibly. Most of the time I feel like I live in 1984.
Tell me about it.. depressing times right now.
At least you are in the 20th Century… in Australia it feels as if was 1894!
@@mirkovic🤣
Wolff/ Hudson combo is lovely and works like a charme. Thank you all three.
Best duo ever. Hahaha. Even though they both had to leave abruptly, it's better to hear them both anytime. Brilliant as usual.
Great show, as usual. 😎👍
Honestly my favorite duo along with Rhadika Desai and Michael Hudson. They really bounce off each other so well, it’s almost like watching Gandalf and Radagast share their wisdom of what’s to come in the world lol
Them, Dimitri Orlov, Andrei Martyonov, and Dr. Doctorow for sure my favorites.
Love Richard Wolff and Michael Hudson. Thankyou Nima. Disgusted about Palestine genocide. 😢
I could listen to Richard Wolff all day.
IT IS TIME FOR FAIRNESS , PEACE , AND GOOD GOVERNMENTS !! 👍
- - It's almost like Israel is trying to start WW3 in a fit of rage against this threat to their banking cartel ＼(ﾟｰﾟ＼)
FIGHT AGAINST GREED !!
Good presentation from Dr Richard Wolff. Though BRICS will only get stronger, their common interest is like gold binding them together. Regarding differences, well, Varietas Delectat 🎉
Is the USA willing to give up democracy for Netanyahu?
Now, I understand how the 1967 USS LIBERTY incident was possible.
A corporate oligarchy so effective, so advanced that its citizens still call it a democracy
Free America from the Federal Reserve Act of 1913.
Not for Netanyahoo but for their base of destabilisation in West Asia
What USA ? The government respond to Israeli Orthodox elite and in these times Netanyahu has probably more control on what congress and state dept do than anyone else. It’s not USA giving up democracy for Israel, it’s Israel exposing their infiltration to go for the greater Israel project. Even if it’s exposed they use media manipulation to sleep people plus other techniques which they are good at.
Thank you, Michael Hudson, for bringing it to our attention what BRICs is stating officially about Western sanctions. “We are deeply concerned about the disruptive effect of unlawful unilateral coercive measures, including illegal sanctions, on the world economy, international trade, and the achievement of the sustainable development goals. Such measures undermine the UN charter, the multilateral trading system, the sustainable development and environmental agreements. They also negatively impact economic growth, energy, health, food security, exacerbating poverty and environmental changes."
Disban the United nations
Nima… a big thank you to the three of you for your great wisdom analyses.🙏🙏🙏
Great program. Many thanks.
a very informative discussion that's important to understand.
Thanks.
At least they have a point of starting, even existing systems started somewhere, just like BRICS , 👏👏
Not a big Michael Wolff fan, but Michael Hudson, now we're talking.
When it's all laid out infront of you it's so frightening. Here in Wales all we have are call centres and coffee bars.
Yes, the U.S. has too much debt. I agree with Richard D. Wolff. The answer is to tax corporations and the rich, and also not to pay bondholders. Eventually, we are going to have to face reality, and slash the military budget, and go through an austerity program to reduce our debt. The most obvious way to a viable future for the United States is to shift our relations with other countries to cultivate friendship, goodwill, and cooperative efforts. This means that we have to stop all the military operations and meddling in the internal affairs of other countries, maybe even shut down the CIA, stop the economic warfare, stop the research on biowarfare, shut down the mlitary bases all over the world. Just shifting our basic posture from offensive, hostile and confrontive, dominating and controlling to accept a multipolar world, and to forge the oppostie kind of relations with other countries based on respect, goodwill, friendship, caring for others, kindness and compassion. That's the new paradigm of an evolving spiritual consciousness. That's how we go forward.
Yesterday, Alex Krainer and today, the Hudson Wolff team? The information content is so vast, that my head is spinning. For an educator, I believed the BRICS summit would provide an exciting window in the global future. You want denial? Several parents feel it is a Russian conspiracy, and it is not allowed to be discussed.in class. I was astounded as these are high school student that need and want to understand the forces that shape their world. They rely on "X" -- your discussions have provided some provocative topics I might sneak in! Thanks!
Wow... that's sad...
BRICS+ is a golden opportunity to unite. Mutually beneficial cooperation creates prosperity. 🇧🇷🤝🇷🇺🤝🇮🇳🤝🇨🇳🤝🇿🇦+
At 22:55... When you believe your own lies, you think your stuff doesn't stink.
Found this out today listening to Arron Matte this is a direct transcript of what Zelensky said in March 2022. There are those in the west who don`t mind a long war because it would mean exhausting Russia even if this means the demise of Ukraine and comes at the cost of Ukranian lives. This is definitely in the interest of some countries.
It seems to be 'exhausting' the West instead.. including the sanctions
We're living in a hustoric time, the world majority is saying good bye to the western emperialism.
Russia became the world's fourth largest economy by GDP (purchasing power parity, PPP) in 2021. The World Bank's revised data confirmed that Russia surpassed Japan to claim the spot, after previously ranking Russia as the fifth largest economy
36:25:- Answer
A corporate oligarchy so effective, so advanced that its citizens still call it a democracy.
Free America from the Federal Reserve Act of 1913
i think brics is going to take this economic "war" like what russia did in ukr, slowly and methodically since they have the upperhand
The common people have given enough blood , sweat ,and tears for the rich .
I always thought the West did not expect Israel to survive for any length of time. Poking the Russian Bear has never been smart. They have survived many horrors over the centuries.
Real heavyweights when it comes to the economic impact of all these crazy geopolitical moves happening
Many US outsourced jobs in China are being moved to Vietnam and other cheap labor sites in Asia and even Africa. This is the action of US multinationals in part because Chinese labor is becoming to expensive. This is the main reason for Vietnam's explosive growth. Even the likes of Ethiopia, Malaysia and Indonesia are benefiting from this realignment out of China. Start looking a labels of products in the US to see this phenomenon.
I can imagine how wonderful it would be if you included Jeffrey Sachs in this discussion ❤
They r not fans of sachs for good reason
Tariffs on car imports from China to the EU will be 35.5% from November 2024. This hits German automobile companies which produce in China and export to the EU. The German automotive industry is finished.
And Volvo.
Does anyone see a resemblence of Michael to Fraggle Rock's Gorg, Junior? (the 'monsters' above ground)That's pretty cool!
The BRICS New Development Bank needs to figure out how to operate without compound interest.
Richard had to take the call. Bibi yelling at him to stop 😂
Why did the Soviet Union not adopt the Chinese economic model ???
Richard: Michael, we will miss you.
Nima: *Laughs*
C'mon man 😂🤦
I agree with Mr Wolff opinion on Trump from an economic point of view but Trump's overwhelming popularity comes from a cultural perspective.
Wrongful! A killer podcast, extremely informative, and empowering.
pourquoi voit-on de moins en moins Ritter ou Gregor ?
The u.s. gestapo is trying to silence them.
Economics is a BIG CON GAME !!
The problems that beface BRICS MEMBERS and Aspiring ones, as a picture has to be captured like this: 1) The trade and debt that non west countries have with the western system. So the first thing is that the money lent through the IMF and the austerity demands by the IMF are completely antithetical and criminal ones against the debtor country.
2) The debtor countries cannot move forward ie develop because typically colonial vampire states will never allow development and wealth of pple to rise because then the profits and enslavement of those countries by the vampire states will diminish.
As one can see the other development pathway via the BELT & ROAD INITIATIVE is actually very highly accepted (150 countries participating and many western states too). So this is possible in BRICS TOO but not reqd. You only need a number of countries that represent the region to have representation as long as veto power is not in the hands of the powerful only. Also the weaker/smaller countries should form blocks to be able to have equitable say in the BRICS BLOCK. AT the moment G7 (GENOCIDE 7 STATES) have control of most wealth and power in the world. The central banks issue credit and most of it is syphoned up to the top 1% of pple in the world. Those excess funds are used not in the economy but in setting up financial bubbles in share markets and in housing/property. PROF Richard Werner has exellent vdos explaining what goes on. The shares bubble in USA is actually legal that corpirations can buy back 25% of their own shares per week but less than 100% in one month. THAT SHARE BUYBACK IS A MECHANISM TO DEPLETE THE MARKET OF THE PARTICULAR STOCK, ALLOW THE PRICE TO RISE THEN PUT SHARES BACK ON MARKET SLOWLY FOR SALE WITH A BIG PROFIT FOR THE CEO, BOARD OF DIR' AND FOR OTHER SHAREHOLDERS.
Mr. Hudson is. Claiming that Saudi is not standing up to Israel and that it is really, willing to give Saudi Arabia and it's oil, to Israel but it will take the Money with them. How can anyone make such Extreme Statements?
Wolff @ 11:50 "..for example really for the first time couple of years ago Bond holders were unwilling to continue to fund the deficits of Great Britain and the Prime Minister [Liz Truss] .... didn't understand it went right ahead and proposed what people told her she couldn't do. She was sure she could do it and she went ahead and did it and and she's she's out of there..."
It's not only the ex UK PM that doesn't understand MMT Mr Wolff, you too do not properly comprehend the operational realities of central bank management of fiat national currencies.
In 2022 the UK had already fully exited the Eurozone - it had regained full monetary sovereignty - as such the UK govt. could most certainly have funded that proposed fiscal deficit. (See Japan as an example.)
Bond holders DO NOT fund a fully sovereign nations deficit - bond issuance is a monetary operation solely to regulate the daily CB cash rate. That is an irrefutable, verifiable fact. Ms Truss, a neoliberal conservative unnecessarily, willingly surrendered to bond vigilantes.
I suggest you read Prof Bill Mitchell's Billyblog article "British currency gyrations are about weak government not fiscal deficits" for a detailed explanation. The London financiers knew full well that weakened Truss PM could be bluffed by their hollow threats.
Then to compound your error you conflate Eurozone (France) debt with UK debt.
"... Mr Macron is now heading right down that that same path. Bond holders have told the French that they are not going to continue to fund their national debt. [it] is now over well over 100% of their GDP."
France is a currency user - of what is effectively a foreign currency the Euro. Mr Macron cannot issue unencumbered Euros - only Brussels can do that. Macron is indeed at the mercy of the bond market if he seeks more Euro liquidity - just like a US State borrowing USD privately.
@16m "... listening to the Modern Monetary Theory as a license to go ahead and basically print the money as you need it and I don't mean to demean MMT, they made an important contribution. They taught people what they should have understood anyway but in any case there's a problem here..."
MMT does not say "go ahead and basically print the money as you need" - MMT always places spending impact (inflation) as the primary consideration.
excellent
😮😅😂😂😂😂❤❤❤❤❤❤❤
WE ARE EXPERIENCING THE END OF ANGLO-AMERICAN CAPITALISM
Current capitalism is mainly an Anglo-American fact and this is no coincidence. Two facts are at the origin of this globalist capitalism. The first is that England has been the dominant maritime power since the 16th century. This allowed it to move all over the planet and take over entire countries that it was able to colonize. But that was not enough. It took the industrial revolution which was born in England and which allowed it to industrialize the country, to mass produce and thanks to its navy and a small well-equipped army, to subdue entire nations like India and to make these territories inexhaustible sources of free raw materials and impose forced labor and consumption of goods produced in England on the populations. This is, in summary, how Anglo-Saxon capitalism was born. This system made England an empire on which the sun did not set. Then came the wars of 1914 and 1939, the hidden aim of which was to maintain British domination over the world, which was increasingly contested by Germany. What followed was a miscalculation which ultimately ruined the English empire and with it Europe. The big winner of these two wars was the United States, whose territory was not ravaged and which, instead of going into debt, became scandalously rich. What happened next was predictable. The United States cleared the British from previously conquered territories and replaced them there to establish their own empire on the same model, that is to say the theft and plunder of the wealth of foreign countries for the benefit of the great American capitalist monopolies and incidentally English. But the sixties saw countries revolt and demand their independence. This thirst has only grown and accelerated and thanks to the existence of the Soviet Union, these countries have often found the necessary support. Today this Anglo-American capitalism is dying because their victims are now strong enough to resist the plunder and thanks to China and Russia now have the possibility of joining an alternative economic system. This is, in a very summary, the history of Anglo-American capitalism which has lasted almost 500 years. No longer able to plunder other countries as before, it survived a few more decades by going into excessive debt but its debt became unbearable. If we add the migration of large fortunes to tax havens which worsens the public finances of the United States and other G7 countries, the result is an economic and financial crisis which will sweep away the entire system. The United States tried to save its system by repeating the 1990 attempt to pluner Russia by declaring war on Russia in Ukraine, but for a second time President Putin foiled this plan and this strategy backfired perpetrators and only made the situation worse. The Anglo-American economic and financial system, which in fact constitutes a huge pyramid scheme (ponzi system), no longer finds victims to slaughter, steal and pillage. In his last burst he attacks the middle classes and their economies but this remains insufficient. The debacle is therefore imminent and everything will be swept away.
Why Capitalism Needs Imperialism To Drain Wealth From the Global South, w/ Economist Utsa Patnaik
th-cam.com/video/6RF5vx1W_kk/w-d-xo.html
Great write up but you missed out bits and pieces on the details of those who were really pulling the strings behind the scene. America went through a civil war and the side that won the war eventually lost the fight for the body and soul of America, that is one of the reasons why the empire transition deal between the US and UK got sealed without any hassle. They became one and the same.
saudi arabia is attempting to convince Brics to stop de-dollerization
and frames this as 'de-risking'
if Australia and Canada applied to join BRICS it would signal an erosion of the past (imperial) security arrangements and signal collapse/change to all
perhaps dangerous geopolitically but all contracts with U.S./Crown are one way
both "Commonwealth" need their Independence based on Tribal Governance in a Trustee / Land Lord in House of Review for Land Law
Richard: the hoi polloi are the common people, not the aristocracy.
👏👏👏👏👏👏👏👍💪💥
Michael should slow down when he talks😂
MACRON IS HISTORY !!
Trump has no idea about economics
Nima only sleeps 1 hour a day. The rest is spent podcasting😂
Ikr 😂
Why can't we have a man like Richard as President ? Why do we only get to choose between 2 clowns ? (Although we have other candidates but everyone is intentionally ignoring them).
Russia, China, the USA & the rest of the world, does it care about their empires of war?