Yves came to congratulate Michael Hudson on the reissue of super imperialism. How many author’s books can stand the test of time?
Hudson bought back the copyright from his publisher and revised and updated it. If you haven’t read “Super Imperialism”, now is the time to make up for this mistake.Or you can Hudson’s Paetron page.
Updated and expanded version 3 Super imperialism: the economic strategy of the US empire is now available.
This highly respected study of American financial diplomacy explores the core shortcomings that existed since the establishment of the World Bank and the International Monetary Fund. Forensic details reveal how the core economic functions of the world are shaped to maintain American financial hegemony. These problems were difficult to detect at the time, but as the failure of the international economic order became obvious; the International Monetary Fund and the World Bank were established to provide assistance to developing countries, but many of the world’s poorest countries fell into insurmountability. Debt crisis.
This book is famous for describing in detail how the abolition of the gold standard allowed the world central bank to have only one alternative tool: holding its international reserves in US Treasury bonds.
The result is a circular flow of self-financing of US military expenditures and investment takeovers from foreign economies. The larger the US balance of payments deficit, the more US dollars will eventually fall into the hands of the central bank and sovereign wealth funds. Machiavelli has no better plan. By participating in this circular flow, countries actually provide funds for their own economic and military encirclement.
Hudson’s criticism of the destructive processes of the international economic system provides important insights into the true motivations at the core of these institutions and the growing waves of opposition they face around the world.
In this book, Michael Hudson illustrates one of the most powerful forces in the global economy-a hidden and widely misunderstood force. This is the “currency pump” used by the United States-an economic device that can freely draw out money to finance the luxury consumption and expenditure of the United States. This kind of “money pump” costs almost nothing to Americans, and for those who put dollars into the “pump”-for the rest of us, the cost is considerable. This is why this book is crucial to reading.
This authoritative description of US imperialism is extraordinary in its scope and directness. It was clearly written at a time when the author was still fresh in the memory of these events, so it lacked authenticity in the subsequent description of the decisive changes in the global economy by the United States. “
Herman Kahn (1972):
You have shown how the U.S. circled Britain and all other empire-building countries in history. We have achieved the biggest plagiarism in history.
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