MICHAEL HUDSON—Well, for many years I was at the center of the university that promoted modern monetary theory, the University of Missouri at Kansas City. And that was created with a contribution by Warren Mosler to bring the faculty there. So yes, I’m one of the original modern monetary theory faculty people….And the theory is that it’s not really a theory – it’s the description of how banking really works. And I guess the leaders outside of academia are Dick Cheney and Donald Trump. They said that deficits don’t matter, we can simply do what banks do. Just like when you go into a bank and you take out a loan, the bank doesn’t have to have any money in it. It will write you a loan and it will deposit money in your account. And so, the bank asset goes up by your deposit and your asset goes up by the deposit. The bank has a credit to you, the loan IOU that you signed at interest. And the debt, what it’s had to borrow the money from the Federal Reserve, or something. Banks create their own credit money…Governments can do the same thing. The government can print whatever it wants. In fact, every time there’s a war, like World War I, all the observers thought that World War I was going to end in six months because governments would run out of money. Well, they didn’t run out of money, they printed the money. Just like America printed greenbacks in the Civil War. And the people don’t have to borrow money at all.
HISTORY
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US Imperialism & Sanctions Are Driving Venezuela Migrant Crisis, NOT COMMUNISM: RBN’s Nick Cruse
60 Mins readEDITOR—The Wiki forgets to mention that Jean Pierre, besides being an overqualified WOKE specimen given her racial and LGBTQ creds, is also an accomplished red-baiter. This makes Jean Pierre something of a traitor to the political faith of her parents, reputedly members of Haiti’s Lavalas party. For those with no knowledge of Lavalas, or the alarmingly tragic political history of Haiti, all of it underwritten by French and later US imperialism, suffice it to say that Lavalas was led by the genuinely progressive Jean-Bertrand Aristide, a socialist / liberation theology priest who in 1990 became the first democratically-elected president of Haiti.
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RODERIC DAY—Though it came as a shock to Western audiences, who understand China to be a tyrannical state-capitalist authoritarian regime, observers in the imperial periphery have always seen things rather differently. As far back as 2004, Fidel Castro argued that “China has objectively become the most promising hope and the best example for all Third World countries,” and in August 2014, he reaffirmed this sanguine outlook: “Xi Jinping is one of the strongest and most capable revolutionary leaders I have met in my life.”
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The Fraudulence of America’s ‘Arms Control’ Policies
27 minutes readERIC ZUESSE—Unlike other types of companies, which sell exclusively or mainly to the public (consumers, including to other companies), military manufacturers sell only or mainly to their own and to allied Governments; and, therefore, in order to control their own sales-volumes (which is an objective of any for-profit corporation), they need to, essentially, own these Governments by means of corruption, which enables these countries to pretend to be democracies instead of aristocracies (which they actually are — controlled by their billionaires — who also control these companies, and the ‘news’-media there).
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A distinguished military officer and an honest thinker that commands attention, Col. Douglas Macgregor is an example of rectitude to fellow officers and above all a patriot who is trying to avoid a global catastrophe by speaking the truth.