Geopolitical Economy Report

Economist Michael Hudson joins Ben Norton to discuss the collapse of four US banks in two months, giant JP Morgan Chase taking over First Republic Bank, and how government regulators are in bed with the bankers. Check out our previous analysis on the crash of Silicon Valley Bank: https://geopoliticaleconomy.com/2023/03/14/us-banks-collapsed-economist-michael-hudson Here you can find episodes of Michael's show with Radhika Desai, Geopolitical Economy Hour: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The United States spent $877 billion on its military in 2022, nearly 40% of the global total, 10 times more than Russia ($86.4 billion), and three times more than China ($292 billion). The US military budget is larger than the next 10 biggest spenders combined. || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The European Union heavily sanctioned Russia and boycotted its oil, but is still buying it, at an even higher price, from India. Meanwhile, increasing energy costs have fueled inflation, causing workers' wages to significantly decline. || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Economists Radhika Desai and Michael Hudson discuss de-dollarization, the global drive to drop the US dollar, and the transition away from financialized neoliberalism toward a new economic system. This is their program Geopolitical Economy Hour. Check out other episodes here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

As the war drags on, Ukraine is selling off state assets in a big privatization spree. US fossil fuel corporations like ExxonMobil, Chevron, and Halliburton are in discussions to take over the country's energy industry. Zelensky is literally selling Ukraine to US corporations on Wall Street: https://geopoliticaleconomy.com/2022/09/09/zelensky-selling-ukraine-wall-street West prepares to plunder post-war Ukraine with neoliberal shock therapy: privatization, deregulation, slashing worker protections: https://geopoliticaleconomy.com/2022/07/28/west-neoliberal-recovery-conference || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Political economist Radhika Desai discusses the inherent contradictions in the capitalist mode of production: crises of overproduction, the tendency of the rate of profit to fall, and a trend toward monopolies and financialization. She also explains the difference between classical political economy and neoclassical economics. This is a discussion of chapter 2, "Capitalism as Contradictory Value Production", of Radhika's book "Capitalism, Coronavirus and War: A Geopolitical Economy". Other episodes in the series: https://youtube.com/playlist?list=PLDAi0NdlN8hNZoKp0XsLFwSxxlMQu6ye8 You can download Radhika's book for free here: https://geopoliticaleconomy.com/2023/02/17/capitalism-coronavirus-war-geopolitical-economy-radhika-desai Check out Radhika's show with Michael Hudson, Geopolitical Economy Hour: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Facebook censored a report by the world's most famous investigative journalist, Pulitzer Prize winner Seymour Hersh, on the destruction of the Nord Stream pipeline between Russia and Germany. Facebook (a US government contractor) instead forces users to read a website funded and partially owned by NATO member Norway. More information here: https://geopoliticaleconomy.com/2023/02/08/us-nord-stream-pipelines-seymour-hersh || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Political economist Radhika Desai explains the imperialist nature of the US dollar-dominated financial system, which systematically undervalues currencies, labor, and resources in the Global South. The US often wages war on countries that try to create alternatives, such as Libya and Iraq. Full video here: https://youtube.com/watch?v=0cQak6RWT6o ‘World becoming more multipolar’, Western hegemony declining, admits European Central Bank: https://geopoliticaleconomy.com/2023/04/19/world-multipolar-hegemony-ecb-lagarde || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to [the US government's] muscular use of sanctions", warn prominent financial analysts, as countries in the Global South create economic alternatives in an increasingly multipolar world. BRICS Bank de-dollarizing, promises 30% of loans in local currencies, new chief Dilma Rousseff says: https://geopoliticaleconomy.com/2023/04/15/brics-bank-dollar-local-currencies-dilma/ Countries worldwide are dropping the US dollar: De-dollarization in China, Russia, Brazil, ASEAN: https://geopoliticaleconomy.com/2023/04/06/dedollarization-china-russia-brazil-asean/ || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

US Treasury Secretary Janet Yellen admitted to CNN that Washington’s unilateral sanctions on countries around the world “could undermine the hegemony of the dollar”. Sources and more information here: https://geopoliticaleconomy.com/2023/04/17/sanctions-hegemony-dollar-us-treasury-yellen BRICS Bank de-dollarizing, promises 30% of loans in local currencies, new chief Dilma Rousseff says: https://geopoliticaleconomy.com/2023/04/15/brics-bank-dollar-local-currencies-dilma Countries worldwide are dropping the US dollar: De-dollarization in China, Russia, Brazil, ASEAN: https://geopoliticaleconomy.com/2023/04/06/dedollarization-china-russia-brazil-asean || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The new chief of the BRICS bloc’s New Development Bank, Brazil’s leftist ex-President Dilma Rousseff, revealed they are gradually moving away from the US dollar, promising at least 30% of loans in local currencies of members, to help countries in the Global South build infrastructure and fight poverty. Sources and more information here: https://geopoliticaleconomy.com/2023/04/15/brics-bank-dollar-local-currencies-dilma BRICS challenges US ‘dollar dominance’, Saudi considers selling oil in other currencies: New multipolar economic order: https://geopoliticaleconomy.com/2023/01/21/brics-us-dollar-saudi-oil-currency-multipolar Brazil’s Lula travels to China and calls to end US dollar dominance: https://geopoliticaleconomy.com/2023/04/15/brazil-lula-china-us-dollar-dominance || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

China and Brazil signed an agreement to de-dollarize their trade and use local currencies. US politicians like neoconservative Florida Republican Senator Marco Rubio are furious, because it means they can no longer destroy countries' economies with illegal unilateral sanctions. Full video: https://youtube.com/watch?v=yQJYevxPcYc More information here: https://geopoliticaleconomy.com/2023/04/15/brazil-lula-china-us-dollar-dominance || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Economists Radhika Desai and Michael Hudson discuss Russia's economic transition away from the neoliberal West and integration with what it calls the "World Majority" in the Global South. This is their program Geopolitical Economy Hour. Check out other episodes here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP (We apologize, there was a technical problem with the audio, but we will have it resolved in the future.) || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

France’s President Emmanuel Macron told Xi Jinping that he opposes the US war drive against China and wants an independent Europe with “strategic autonomy”. But he has made comments like this before, yet failed to challenge Washington’s hegemony. Sources and more information here: https://geopoliticaleconomy.com/2023/04/11/france-macron-us-china-independent-europe Ukraine’s Zelensky admits he sabotaged Minsk peace deal with Russia, West blocked negotiations: https://geopoliticaleconomy.com/2023/02/10/ukraine-zelensky-minsk-peace-russia/ US invites authoritarian far-right regimes to ‘Summit for Democracy’: https://geopoliticaleconomy.com/2023/04/01/us-authoritarian-summit-for-democracy/ || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Historian Aaron Good discusses US President John F. Kennedy's economic policies and his clashes with US Steel and Wall Street, as well as the deaths of UN Secretary General Dag Hammarskjöld and oligarch Michael Rockefeller. This is the Empire and the Deep State series that Geopolitical Economy Report editor Ben Norton is co-hosting with Aaron Good and Seamus McGuinness of the American Exception podcast. This is part 4 of our historical analysis of the JFK administration. PLAYLIST with past episodes in the series here: https://youtube.com/playlist?list=PLDAi0NdlN8hNArLl765PXe8tsTKmOciGL You can support American Exception at https://Patreon.com/AmericanException || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The UN Human Rights Council voted overwhelmingly to condemn sanctions. The only countries that expressed support for unilateral coercive measures were the US, UK, EU member states, Georgia, and Ukraine. Sources and more information here: https://geopoliticaleconomy.com/2023/04/06/west-sanctions-un-human-rights-council || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The global de-dollarization campaign is gaining momentum, challenging the hegemony of the US dollar. China and Russia are trading in their own currencies. Beijing and Brazil dropped the dollar in bilateral trade. The UAE is selling China its gas in yuan, through a French company. Southeast Asian nations in ASEAN are de-dollarizing their trade, promoting local payment systems. Kenya is buying Persian Gulf oil with its own currency. The Financial Times acknowledges that a "multipolar currency world" is emerging. China & Russia pledge ‘changes not seen in 100 years’: Xi & Putin take aim at US dollar hegemony: https://geopoliticaleconomy.com/2023/03/25/china-russia-xi-putin-dollar-economy Brazil and Argentina preparing new Latin American currency to ‘reduce reliance on US dollar’: https://geopoliticaleconomy.com/2023/01/22/brazil-argentina-latin-american-currency-dollar || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Historian Aaron Good discusses US President John F. Kennedy's policies toward Africa, particularly Congo and its anti-colonial leader Patrice Lumumba, as well as Indonesia's leftist nationalist leader Sukarno and the assassination of UN Secretary General Dag Hammarskjöld. This is the Empire and the Deep State series that Geopolitical Economy Report editor Ben Norton is co-hosting with Aaron Good and Seamus McGuinness of the American Exception podcast. This is part 3 of our historical analysis of the JFK administration. PLAYLIST with past episodes in the series here: https://youtube.com/playlist?list=PLDAi0NdlN8hNArLl765PXe8tsTKmOciGL You can support American Exception at https://Patreon.com/AmericanException || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

From inside Russia, economists Radhika Desai and Alan Freeman report on the impact of Western sanctions and the Ukraine war. They discuss Moscow's integration with Asia and move away from neoliberal economics. Radhika and Alan are directors of the Geopolitical Economy Research Group: https://geopoliticaleconomy.org || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

On the floor of Germany’s parliament, Left Party MP Sevim Dağdelen called for the c. 38,000 US soldiers in her country to leave, and to take their nuclear weapons with them. She lamented that Washington “doesn’t actually want allies, just loyal vassals”. Sources and more information here: https://geopoliticaleconomy.com/2023/03/31/germany-us-soldiers-nuclear-weapons Check out our interview with Sevim Dağdelen discussing the NATO proxy war in Ukraine: https://youtube.com/watch?v=NYn0ODIL0Qg || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Mexico’s leftist President Andrés Manuel López Obrador used the US government’s “Summit for Democracy” to indirectly call out Washington’s hypocrisy: “The oligarchy reigns with the façade of democracy”, he said, calling for “greater equality” and “separation of economic and political power”. Sources and more information here: https://geopoliticaleconomy.com/2023/03/30/mexico-amlo-us-oligarchy-democracy-summit ‘Mexico is not a US colony!’: AMLO condemns invasion threats, celebrates nationalization of oil, lithium: https://youtube.com/watch?v=3dw1pcDoewY AMLO says Mexico is more democratic than oligarch-run USA, condemns State Dep’t ‘meddling’ against electoral reform: https://youtube.com/watch?v=Fbx5iLjSGsI || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The US government threat to ban TikTok is part of a new cold war strategy to sabotage Chinese companies and ultimately all foreign competitors to Silicon Valley monopolies. Bills introduced in Congress endanger freedom of speech, while promising more sanctions. TikTok bills could dangerously expand national security state: https://responsiblestatecraft.org/2023/03/29/tik-tok-bills-could-dangerously-expand-national-security-state/ || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

US troops have illegally occupied Syria's oil-rich territory for years, but a top United Nations official, Farhan Haq, falsely claimed "there's no US armed forces inside of Syria". Chinese reporter Edward Xu called out the UN's hypocrisy on Ukraine. || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

The US government imposed sanctions on the International Criminal Court, threatened prosecutors' family members, and passed a "Hague Invasion Act". But now that the ICC wants to arrest Russian President Putin, Washington praises the court (while still refusing to join it). || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com

Economists Radhika Desai and Michael Hudson discuss the US banking crisis in this episode of their program Geopolitical Economy Hour. Check out other episodes of Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP || Geopolitical Economy Report || Please consider supporting us at https://GeopoliticalEconomy.com/Support Patreon: https://Patreon.com/GeopoliticalEconomy Podcast: https://Soundcloud.com/GeopoliticalEconomy Newsletter: https://GeopoliticalEconomy.Substack.com