Guns and Butter

Guns and Butter – February 3, 2016

The New Global Financial Cold War with Michael Hudson

Dr. Hudson discusses his paper, The IMF Changes Its Rules To Isolate China and Russia; implications of the four policy changes at the International Monetary Fund in its role as enforcer of inter-government debts; the Shanghai Cooperation Organization (SCO) as an alternative military alliance to NATO; the Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank; the Trans Pacific Partnership Treaty; the China International Payments System (CIPS); WTO investment treaties; Ukraine and Greece; different philosophies of development between east and west; break up of the post WWII dollarized global financial system; the world dividing into two camps.

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  • Larry Coffield

    Great show Bonny. Nobody gets a better interview from the great Michael Hudson than you. Still waiting for the second half of the PCR interview.

  • Michèle Boireau

    The BRICS use the US dollar less and less for their foreign trade, aware of the fines that foreign companies such as French BNP, because they were using US dollar as an international currency, had to pay to the American Justice, for not obeying former -and obsolete- US sanctions against Cuba, sanctions which were not demanded by their own countries. China has also initiated the BRICS-friendly AIIB, an alternative to monopolistic OTAN-friendly IMF.
    The IMF changes its rules of not lending money to already endebted countries in order to isolate Russia and China , so that the countries indebted to the BRICS’s bank AIIB could refuse paying back their debts to AIIB, damaging AIIB, and get new loans from IMF. But do not forget that AIIB was created by China as an alternative to monopolistic IMF . AIIB could act in a similar way and accept lending money to the countries indebted to IMF who could refuse paying back their debts to IMF, thus damaging IMF.
    Thus I do not understand why anti-austerity Alexis Tsipras, when elected in Greece, did not refuse paying back the Greek debt to IFM, did not refuse austerity for his country, and did not borrow new money from AIIB for his country to have a positive new start . Some said he was threatened on his life. Who is informed ?

  • justin stark

    The New Global Financial Cold War – Michael Hudson , #339

    Excellent. Essential; even Crucial Global Financial Analysis. Outstanding, Bonnie.

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