TonyWicher
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
This is a high-level discussion on the economics of the Gulf protection racket which has sustained US financial dominance of the world economy for decades. It is quite similar to the way the British Empire dominated the world economy before it had to give up its colonies after World War 2, when the United States inherited the Empire. Now the crushing defeat in the Iran war has led to the collapse of the Gulf protection racket that sustained US financial dominance with the petrodollar. The world now faces the same problem it did after the second world war, how to organize an international financial system that will not lead to another depression like we had in the 1930’s. The BRICS countries have been trying to build such a system, but according to Hudson’s analysis, we are now going to see that other countries such as Japan, South Korea, and the European countries are going to find the debt burden imposed on them by the US financial empire to be intolerable, and we are going to see all of them repudiating their debts and asserting their economic sovereignty. This is a deep and difficult discussion that I found worth hearing twice to understand the economic and financial underpinnings of the Empire and the reasons for its collapse.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
