Another great interview with Michael Hudson - De-Dollarizing the American Financial Empire Archived Message Posted by MikeD on July 13, 2019, 3:04 pm Another great interview with Michael Hudson De-Dollarizing the American Financial Empire By Michael Hudson and Bonnie Faulkner Audio & transcipt Imperialism is getting something for nothing. It is a strategy to obtain other countries’ surplus without playing a productive role, but by creating an extractive rentier system. An imperialist power obliges other countries to pay tribute. Of course, America doesn’t come right out and tell other countries, “You have to pay us tribute,” like Roman emperors told the provinces they governed. U.S. diplomats simply insist that other countries invest their balance-of-payments inflows and official central-bank savings in US dollars, especially U.S. Treasury IOUs. This Treasury-bill standard turns the global monetary and financial system into a tributary system. That is what pays the costs of U.S. military spending, including its 800 military bases throughout the world.... http://www.informationclearinghouse.info/51909.htm Message Thread: Another great interview with Michael Hudson - De-Dollarizing the American Financial Empire - MikeD July 13, 2019, 3:04 pm Completely agree. Excellent re-post : ) - Tomski July 13, 2019, 3:15 pm He was on Maxie 'n' Stacie this morning - Keith-264 July 13, 2019, 5:04 pm   Searching