And the "state", the government will be moral? Government is composed of the same as what private banks are composed of: people. Why do those who love money tend to go to banking and finance? Bec that's where the money is. If and when the control of money is purely given over to government where do you think the people who love money will go? Of course to exactly the where money is controlled and created, the government this time. Government already attracts the people who love power and being close to power, the same types as those attracted to banking and finance bec money is power, it buys power. Now these materialistic people will only have one place to go to: the government that not only governs but it also has the money power. Of course these people who would 'serve' this entity of govt + bank monopoly would never say they will serve because they love money and power.. they'll say whatever you want to hear so they can get into position.
@chelseayorkshire574123 күн бұрын
We're listening to this 2 years later-2024. It's an election year, and there are NO viable candidate out there saying how the US Govt. needs to be put in charge as Hudson specificies. It's hopeless. America and its citizens are going to end up starving to death all because the Oligarchs own ALL the money, ALL the credit, All the monopolies.
@jackgoldman126 күн бұрын
So oligarchs who charge 30% a year eventually take over all the land, money, power, like America. America is a global oligarch issuing IOUs, credit, debt, debt slavery, foreclosing on collateral for all nations, including military invasion, to benefit billionaire bankers, and Big Tech. What a great time to be alive.
@twhelostl6128 күн бұрын
It is a seesaw relationship. The decisions to push rates up or down affect spenders and savers inversely. Hence a leveling stability in general. Issuers of currency have a basic goal to keep a leash on things. Good job Richard.
@S41GONАй бұрын
I think professor Werner would agree with this Milton Friedman quote: _“After the U.S. experience during the Great Depression, and after inflation and rising interest rates in the 1970s and disinflation and falling interest rates in the 1980s, I thought the fallacy of identifying tight money with high interest rates and easy money with low interest rates was dead. Apparently, old fallacies never die.”_
@S41GONАй бұрын
Maybe the connection between growth and interest rates has something to do with the type of investment the interest rates incentivise. My hunch feeling is that low interest rates lead to finacialization and malinvestment in the economy. Of course in an environment like that raising interest rates can be quite destructive as the tide goes back, it will reveal who's swimming naked. High (or even normal) interest rates on the other hand can act as a barrier to filter out bad investment, so in a sense it's restrictive, but in a healthy way.
@Richard-ki4nkАй бұрын
Always great points from Hudson...but i think a money that cant be manopulated (bitcoin?) would provide a more fair for all system rather than placing excess power in gov officials that are faliable as all people are
@mario9318Ай бұрын
3 years ago when this talk was recorded the words of Michael Hudson about European elites could have sounded a bit excessive or too much of an exaggeration. But here we are 3 years into the future, almost summer 2024 and we can see how prophetic he was. Our leaders are so totally sold out to the the US war machine that sometime feels unreal, it is almost too pathetic to be true.
@mario9318Ай бұрын
Didn't anyone find suspicious when they changed the Lord's Prayer from " forgive our debts" to "forgive our trespasses"? Oh!! it was Jean Paul II, what a funny coincidence.
@mario9318Ай бұрын
I going to have to watch this 10⁹ times 😂. Also read And Forgive Then Their Debts" and The Collapse Of Antiquity.
@gauze3579Ай бұрын
i always learn something new by listening to mr.hudson
@desert.mantis2 ай бұрын
Michael speaking truth! I love this man.
@bellakrinkle93812 ай бұрын
It's the US Rulers who are DESTROYING the World 🌎
@bellakrinkle93812 ай бұрын
Some of the 99% have no debt because we've learned the hard way to live within our means. Everyone must be treated fairly. (Here is hoping that the US can get their SHT together 😮)
@bellakrinkle93812 ай бұрын
Imagine the US having the vaues 70 years ago more aligned with the way Israelis. Think about the productivity 🤔 we could have had. We still could be making things needed by manufacturing them here, and paying workers enough to have free time to enjoy life. And the brainey could have led the world. Instead our strength was shipped off to China and Israel. Man, of only we did not separate GOLD from THE US DOLLAR. 🥶🥴😵😵💫🤯🥸
@bellakrinkle93812 ай бұрын
Remember when banks paid INTEREST to Customers with accounts? Now Senior Citizens need JOBS for survival. Banks are financial rapists, now.
@bellakrinkle93812 ай бұрын
USA rulers want NO COMPETITION. This is the reason they SANCTION smart nations. 😳😎
@andreoliveira6852 ай бұрын
the great unelected officials.....
@Peace2U-ec6es2 ай бұрын
This was true in 1997 when the U.S. national debt was $5.5 billion. Today it's over $30 Trillion. There's probably not enough ink available to print that much money, let alone gold to back it.
@DrHerbertDean-vz4qh2 ай бұрын
123
@dirkcurritzki95852 ай бұрын
Full interview please
@1759242 ай бұрын
kzfaq.info/get/bejne/m6t7m9uVysfIm2Q.html
@salwaneleyland58742 ай бұрын
There is no money in debt. Its caaled an advance. And behind i leave gastroeconomics raw mineral resorces. Called ores like a salts. Dust. No cash in dirt. Try pluto jet see carbon graffine.
@user-yr8jj5ut7z3 ай бұрын
So China economy is sustainable development unlike western nations economies
@mjsmcd3 ай бұрын
What about iflation ? The Fed has raised rates to fight it aka slow down borrowing.
@barbaraherda92123 ай бұрын
Fantastic discussion - thank you! I found this channel indirectly via Catherine Austin-Fitts.
@leehumphries76963 ай бұрын
Great post. Strange the people asking the questions at the end didn't listen to what he actually said.
@bellakrinkle93812 ай бұрын
This requires focus and concentration. Many do not have the ability to do so. Minds wander off, including my own, sometimes. 😮
@ramyafennell46154 ай бұрын
Fantastic, this man inspires with his straightforward language. Keep this online forever so all newcomers can learn. David Graeber, anthropologist, recently deceased, was inspired...and with David Wengrow archeologist, reveal how we lived in communities, how debt evolved, Check them out also alongside Michael. wonderful mentorship is there...a different future is possible.
@nonyabizness9974 ай бұрын
A masterclass of economic history! Thank you Professor Michael Hudson!!
@rodrigoribeiro90574 ай бұрын
1:03:00 "Basically, your governments (the EU governments) are a branch of NATO." - THIS IS SO TRUE.
@RWROW4 ай бұрын
Did Mr Vague review Friedman's data supporting the link between money supply growth and inflation?
@bruce41305 ай бұрын
Mainstream economists still believe the same outdated textbooks!
@jasonng12025 ай бұрын
99 00pm
@michstockholm11645 ай бұрын
"Basically those are the alternatives economy has today. Debt forgiveness or barbarism ". /Michael Hudson
@leftykeys69445 ай бұрын
Markets & financial institutions have gotten too big for their britches.
@liamduff885 ай бұрын
I agree with much of what Michael says. However I think its important to point out that the fundamental issue with government creating and allocating money has always been the incredibly severe corruption and autocracy which has without exception cancelled out all of the benefits of that system. China is suffering impending economic doom, the housing crisis and political corruption at all levels is staggering and every attempt to reign in corruption seems to be violent and serves to consolidate more power and decision making to Xi. JDYD Liquor-Hurun Global Rich List 2023 revealed that china has by far the most billionaires with 969 with the US in second place with 691 billionaires.. I just don't see how China is doing anything better than the US. To top it all off, the CPP is creating a new bubble by forcing citizens to be buried in official government cemeteries as a way to collect taxes as a result its now more expensive to purchase a legal cemetery place than an apartment. all this during a housing and homelessness crisis. kzfaq.info/get/bejne/h72Dm5x-rLS-gKM.html kzfaq.info/get/bejne/l7OFhK6DyM3Uhqs.html
@bellakrinkle93812 ай бұрын
Are you aware of the intent of US to hold titles on all new home buyers houses. Eventually, if this passes, all housing will be US owned. WEF is coming. 🤑😝
@traylaitken-cade61125 ай бұрын
What a great interview. Hudson and Sowell should run the world . The only hole in his argument i can see is we have to hope we get an honest incorruptible goverment😅
@engtuantee23145 ай бұрын
Prof. Has volume 3 of your trilogy of the tyranny of debt come out? If so, the title of the book, please
@vivalaleta6 ай бұрын
The parasite and host comparison was so apt and so creepy.
@curiouscurious90536 ай бұрын
Michael Hudson is the most brilliantly honest economist on the planet.
@bellakrinkle93812 ай бұрын
That's the truth! ❤
@Fidelista236 ай бұрын
Michael Hudson is God !!! Bless him and keep him safe.
@Kapitalistdjungeln-tj4wm6 ай бұрын
Äntligen några som begriper och kan förklara hur pengar fungerar på riktigt. Men jag är fortfarande förvånad att så få bryr sig om att förstå det faktiska värdet på pengar. Alla tittar para på priserna.
@Kapitalistdjungeln-tj4wm6 ай бұрын
f the amount of money available is unlimited, then that means the actual value of money is ZERO.
@SeptoContrarian6 ай бұрын
This is another’s insiders view on the Confessions of an Economic Hitman-- a “must read “ by John Perkins.
@weho_brian6 ай бұрын
You cannot just print money in a vacuum. You need checks and balances in place for a good working economy. Govt->Corporations->People . Government prints too much money, devalues the dollar and purchasing power of consumers, who spend less, giving less profits to companies and governments in the form of taxes. This is a feedback loop and requires the correct amount of checks and balances. If you do not have these balances and governments only print money, you become a 3rd world country like Venezuela with 200% inflation with crippling poverty
@DistributistHound6 ай бұрын
Positive money advocates would find a common ground with major C.H. Douglas proposals in Social Credit kzfaq.info/get/bejne/a5d6iLuKkrCZZWQ.htmlsi=y4hk3fVhjuGcPtBp
@Andrei_Suckoffsky6 ай бұрын
Jews rock
@iijokerzace6 ай бұрын
The fact he knows exactly what he's talking about about, makes this a pretty vile thing to say.
@orwellianyoutube89786 ай бұрын
Well well well, a Greenspan. So rare in the banking industry
@puro526 ай бұрын
hade gärna lyssnat när vi ser till att investera i en mikrofon.
@TheRoamingWatcher20247 ай бұрын
I like mr hudson but think you have to be autistic to see economics the way paul krugman does is in itself not based on modern reality I myself have been more the MMT way of thinking on macroeconomics.