Thursday, November 30, 2017

Super Imperialism Revisited


In 1972 Michael Hudson wrote a book called "Super Imperialism" . Nixon had taken the US off the gold standard the year before, which was seen as a loss for the US (ran out of gold). What was developing by default was a change from global Gold-Standard to global US Treasury Debt Standard, for international trade. Hudson's book showed how this apparent loss would actually enable extractive financial imperialism, as long as the conjured dollars kept being accepted by the world for real things like oil and Toyotas. Hudson's book sold best in Washington. He was hired-on to advise the Pentagon. He hadn't anticipated that role. His book became the shop manual for dollar based financial imperialism, whereby the US military's global reach was paid for by the subjugated world. It was made clear, early on, to Saudi Arabia, that they could charge whatever they wanted for oil, as long as they invested the proceeds back into US Treasuries. Hudson maintains here that all major wars of the 20th century were caused or greatly exacerbated by US financial policy; Great Depression, too. This is a huge claim. I think he proves it well. I can't really excerpt this essay. It is all excellent and illuminating. There is no fat to cut out. Now, the extraction of wealth has proceeded so far as to hollow out the US economy, while the US has destroyed any economy that tried to flee the extractive system (Iran, Iraq, Libya, etc.) Russia, China and Iran are setting up a parallel trade system, not so extractive. China is seen as the major long-term competitor in this century. (You and I are chattel property.)     Please Read!

Nat Hagans explains real economy. Profoundly compliments Hudson's view.
When the 2016 dollar price of a barrel of oil goes from the long term average of $20/bbl up to $150/bbl, the equivalent number of energy-slaves decreases from 22,000 to 3,000. 

How a North Korean Electromagnetic Pulse Attack could Kill Millions and Turn America into a Post Apocalyptic Wasteland (Mutual Assured Destruction Returns!)

According to multiple reports in Middle East regional sources, China plans to send elite military units to Syria to advise and assist the Syrian Army in an attempt to root out the country's terrorist insurgency, especially Chinese Islamist foreign fighters who have shown up in increasing numbers in Syria's north since the start of the conflict.

Debbie's lost laptop looks like Pandora's box. 
A lawyer for former DNC IT staffer Imran Awan is scrambling to block evidence found on a hidden laptop which may contain proof of a massive spy ring operating at the highest levels of Congress, in what may be the largest breach of National Security in U.S. history.

Those darned, bee-killing neonicotinoid pesticides make migrating birds get lost and lose weight and get confused. Ban 'em!

Wandering Warbler

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