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De-dollarization: Why BRICS & Global South want alternatives to US dollar
The expanding BRICS bloc and many Global South countries are trying to de-dollarize, diversifying their foreign exchange reserves and trading with local currencies, due to the threat of US sanctions and rising Fed interest rates that make it difficult to service dollar-denominated debt. Ben Norton explains.
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How the US gov't bailed out banks and rich oligarchs
Three of the four largest banks crashes in US history took place in 2023, and the government printed hundreds of billions of dollars to bail out their rich uninsured depositors. Ben Norton explains the scandal.
Read more here: US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs: https://geopoliticaleconomy.com/2023/03/19/fed-bailout-silicon-valley-banks
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China's economy is not 'collapsing'. It's transitioning.
Western media outlets have absurdly claimed China's economy is collapsing, due to a crisis in the real estate sector. But in reality, this is part of an intentional transition away from infrastructure, toward more investment in technological production. Ben Norton explains.
Check out our related video "How China became the world's industrial superpower - and why the US is desperate to stop it": https://youtube.com/watch?v=BT7Th2aV0wM
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West's economic war on Russia backfires, destroys EU industrial base, fuels Eurasian integration
Western sanctions over the Ukraine war have backfired, rapidly de-industrializing Europe while accelerating Russia's economic integration with Asia. Journalist Ben Norton explains the historic changes.
EU confesses ‘our prosperity was based on China & Russia’: cheap energy, low-paid labor, big market - https://youtube.com/watch?v=ajIRkk1FOkM
BRICS expanding into economic powerhouse: Petrodollar under threat - https://youtube.com/watch?v=1SIfrWkQXeE
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Billionaires are taking over the world: How 5 richest men doubled wealth while 5 billion got poorer
The world's richest 1% own 43% of global financial assets, and the wealth of the top five billionaires has doubled since 2020, while 60% of humanity got poorer, according to a report by Oxfam, published to coincide with the World Economic Forum meeting of capitalist oligarchs and Western government officials in Davos, Switzerland. Ben Norton analyzes the findings.
Links and sources here: https://geopoliticaleconomy.com/2024/01/18/billionaires-richest-doubled-wealth-poorer-oxfam
Check out our related video "Global debt is unpayable: How Wall Street traps poor countries, profiting rich ones": https://youtube.com/watch?v=WRkhWQ0sRn4
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New war is here: US prepares 'open-ended' bombing of Yemen. Why is Saudi Arabia urging 'restraint'?
The US government is preparing a "sustained military campaign" in Yemen, according to the Washington Post. Why is Biden waging this war? Who are the "Houthis"? Why is Saudi Arabia urging "restraint"? What is Israel's role? Ben Norton explains.
Check out our related reports:
- US bombs Yemen, Iraq & Syria. Israel bombs Gaza & Lebanon. Both threaten Iran: https://youtube.com/watch?v=G0uXnxBWG-Q
- China brokers Iran-Saudi peace: big blow to petrodollar, geopolitical game changer: https://youtube.com/watch?v=DyAFerEouN0
- US-Saudi war on Yemen has killed 377,000 people – UN estimate: https://geopoliticaleconomy.com/2022/02/20/us-saudi-war-yemen-377000-deaths-un
Topics
0:00 US wages war on Yemen
4:34 Why did US lose Saudi support?
6:52 Shifting geopolitical order
8:27 Who are Yemen's 'Houthis'?
14:16 Geo-economics of Red Sea
20:47 What are US war plans in Yemen?
25:27 Why is Saudi Arabia urging 'restraint'?
32:40 China is now Middle East's top trading partner
35:30 US' historic transition from oil importer to exporter
37:44 Obama boasts of making Wall Street richer and expanding oil production
38:35 Why US-Saudi relations have deteriorated
41:15 Biden breaks campaign promise to end Yemen war
42:30 US creates world's worst humanitarian crisis... twice
46:36 Outro
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Is neoliberalism really dead? Or does it live on like a zombie?
Political economists Radhika Desai and Michael Hudson discuss neoliberalism, and the premature predictions about its demise.
You can watch other episodes of their program Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
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US votes against world as UN condemns Israel's illegal settlements in occupied Palestine and Syria
The United States and Canada voted against countries representing more than 90% of the world population at the United Nations General Assembly, in resolutions condemning Israel's illegal occupation of Palestinian and Syrian territory.
Our related report on the US voting against a UNGA resolution calling for peace in Gaza: https://youtube.com/watch?v=Vph4YDi17Ps
Our video on the US vetoing UN Security Council resolutions on Gaza: https://youtube.com/watch?v=rgD7pweEgG8
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US votes against peace in Gaza, defying vast majority of planet at UN
The United States voted against a proposed humanitarian truce in Gaza, opposing the vast majority of the world in the United Nations General Assembly and protecting Israel as it kills thousands of Palestinian civilians. Journalist Ben Norton analyzes the geopolitical situation.
Our report on the US vetos of the UN Security Council ceasefire proposals: https://youtube.com/watch?v=rgD7pweEgG8
An explainer on how Palestinians have a legal right to armed resistance against Israeli colonialism: https://youtube.com/watch?v=JwO6cGnn-M8
Colombia's president warned that Israel's destruction of Gaza is the West's fascistic plan for the Global South: https://www.youtube.com/watch?v=kC8YMcHn9nE
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Israel's destruction of Gaza is West's fascistic plan for Global South, warns Colombia's president
Much of the Global South is rebelling as Israel destroys Gaza, with US/EU support. Colombia's first-ever left-wing President Gustavo Petro warned that the West's exploitative economic model is bringing back fascism, and neocolonial elites treat the peoples of the Global South as "disposable, like the children of Gaza".
For more information, check out our video "US blocks peace in Gaza, supporting Israel's genocidal war on civilians": https://www.youtube.com/watch?v=rgD7pweEgG8
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US blocks peace in Gaza, supporting Israel's genocidal war on civilians
The United States has blocked ceasefire proposals at the UN Security Council while staunchly supporting Israel, sending more weapons as it commits rampant war crimes against Palestinian civilians in Gaza.
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Multipolarity: China, Russia, Israel, India, and the difficult birth of a new world
Political economists Radhika Desai and Michael Hudson are joined by geopolitical analyst Pepe Escobar to discuss the rapidly changing global order.
(This episode was recorded on 16 October 2023.)
You can watch other episodes of their program Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
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Israel brutally bombs Palestinian civilians as media spreads fake stories
Israel is indiscriminately bombing civilians in Gaza, after imposing a "complete siege" on 2.3 million Palestinians, cutting off electricity, water, food, and fuel. Meanwhile, the Western media has spread false stories that were quickly debunked.
Watch our related video: https://youtube.com/watch?v=JwO6cGnn-M8
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Global debt is unpayable: How Wall Street traps poor countries, profiting rich ones
All the debt in the world is three-and-a-half times the size of the global economy: 349% of GDP, or $37,500 per person. It is unpayable. But poor countries are forced to pay high interest rates to rich bondholders on Wall Street, while Western vulture funds profit. Journalist Ben Norton analyzes the deeply unequal international financial system.
Watch the first part here - A huge debt crisis is coming: https://youtube.com/watch?v=Ib3QOBbQR2g
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Palestinians have a legal right to armed resistance against Israeli colonialism
International law clearly shows that the Palestinian people have a legal right to armed struggle against Israeli colonialism, just as South Africans did against apartheid. Gaza suffers under an illegal Israeli blockade that even a former British prime minister recognized to be a "prison camp". Journalist Ben Norton looks over the evidence.
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A look inside China: Is this the most sovereign country on Earth?
What is life like in China? How does its economy work? Is it obsessed with censorship, or actually defending its sovereignty against foreign interference? Journalist Ben Norton discusses his experience living in the country.
Watch our related video "How China became the world's industrial superpower - and why the US is desperate to stop it": https://youtube.com/watch?v=BT7Th2aV0wM
Check out our report "How China strengthened food security and fought poverty with state-funded cooperatives": https://geopoliticaleconomy.com/2022/05/31/china-food-security-poverty-cooperatives
Topics
0:00 Why I moved to China
1:34 China's remarkable economic growth
2:24 The most sovereign country?
4:32 Technological sovereignty
7:40 Dangers of a new cold war
9:28 An unnecessary disclaimer
11:35 Unprecedented economic development
19:33 China's unique sovereignty
23:32 De-industrialization
24:42 China's sovereign social media space
28:28 China's sovereign technological space
31:20 Digitalization of the economy
34:09 Phones
36:29 Cars and computers
39:08 US sanctions and tech war
41:16 Censorship, or digital tariffs?
46:59 Problems
47:31 Energy security and green transition
50:42 Food security
52:15 Debt
54:18 Inequality
55:48 Democracy?
59:14 Protecting sovereignty is not isolationism
59:55 Export- or consumption-based model?
1:05:05 Comparative advantage: a critique
1:19:30 Outro
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Smoking gun: US-backed coup toppled Pakistan PM Imran Khan over Ukraine neutrality, non-alignment
The US government sponsored a political coup against Pakistan's democratically elected Prime Minister Imran Khan due to his non-aligned foreign policy and neutrality in the Ukraine proxy war. Ben Norton analyzes the substantial evidence.
Check out some of our previous coverage:
- Imran Khan: Pakistan should be non-aligned in cold war, neutral over Ukraine, applauds China: https://youtube.com/watch?v=NjuKZIBvgO4
- Pakistan coup regime bans Imran Khan, dissidents killed, as US eyes China ties, Israel normalization: https://youtube.com/watch?v=Ugzu1pTiWXQ
- US-backed coup in Pakistan overthrows PM Imran Khan over his independent foreign policy (from April 2022): https://youtube.com/watch?v=XGh-aO2Xuic
Topics:
0:00 Well known US-backed coups
1:37 Coup against Pakistan's PM Imran Khan
7:38 Imran Khan's non-aligned foreign policy
14:14 Coup regime reverses independent foreign policy
15:31 Coup regime's authoritarian crackdown
19:44 Another US-backed coup in Pakistan, in 1977
21:58 Similarities to Brazil and Peru
23:38 Iran and Mohammad Mosaddegh
27:14 The US "war on terror"
30:00 Smoking gun: leaked embassy cable
47:01 IMF bailout and inflation crisis
50:00 Outro
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BRICS or NATO? G20 or G77? Summits mark rapidly changing world order
Political economists Radhika Desai and Michael Hudson are joined by geopolitical analyst Pepe Escobar to discuss the rapidly changing world order at a time of summits of BRICS, G20, and G77 and the UN General Assembly.
Transcript: https://geopoliticaleconomy.com/2023/09/23/brics-nato-summits-radhika-desai-michael-hudson
You can watch other episodes of their program Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
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Chinese balloon was NOT spying, US gov't admits months after fake crisis
The Pentagon admitted that a Chinese balloon that crossed into US territory in February 2023 was not spying; it was likely blown off course by wind. But Ben Norton shows how Washington and the media milked this manufactured scandal as ridiculous cold war propaganda.
Our video from back in February: "Weather pushed Chinese balloon off course, US shot down $12 hobbyist balloon in $2M missile attack": https://youtube.com/watch?v=mL9Jz-Qruho
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Global rebellion against the neocolonial financial system: 'We must change the rules of the game'
Global South countries making up 80% of the world population called to transform the "unfair international economic order" at the G77+China summit in Cuba.
Topics
0:00 Introduction
1:19 G77 vs G20 vs G8 vs G7
7:06 G77+China statement
18:17 Speech by Cuba's President Díaz-Canel
43:46 Speech by Nicaragua's President Daniel Ortega
49:44 Outro
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The first 9/11: How the CIA overthrew Chile's democracy (and pillaged its copper)
On September 11, 1973, the CIA sponsored a coup that overthrew copper-rich Chile's democratically elected socialist President Salvador Allende and imposed a fascist military dictatorship led by General Augusto Pinochet. Journalist Ben Norton reviews the historical evidence.
Peru resource battle: CIA-linked US ambassador talks 'investments' with mining/energy ministers - https://youtube.com/watch?v=WNR_CI2U__w
Topics
0:00 Introduction
6:48 Historical evidence
14:04 Fascism
22:04 More evidence
27:47 UK's role
30:58 Copper
38:14 More British meddling
39:53 Australia's role
40:37 Operation Condor
44:33 Outro
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A huge debt crisis is coming
Around the world, debt is skyrocketing - and rising interest rates are making it unsustainable. In this first part, Ben Norton discusses the impending crisis in the United States, before explaining in part two how Wall Street traps the Global South in debt.
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs: https://youtube.com/watch?v=jyrj7gZwg3U
4 US banks crash in 2 months: Banking crisis explained by economist Michael Hudson: https://youtube.com/watch?v=ImjdVxd09fo
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Western sanctions failing: EU imports more Russian gas, China beats US tech war
Western sanctions are backfiring: The EU is now importing Russian liquified natural gas at record levels, and China has made high-tech breakthroughs despite US export restrictions. Ben Norton discusses how this is strengthening their economic sovereignty while blowing back on Europe.
US now world's top LNG exporter, as Europe boycotts cheaper Russian gas: https://youtube.com/watch?v=QDdmbPni6BI
Europe pays more for banned Russian oil, resold by India - as EU wages fall: https://youtube.com/watch?v=Yuy6UvRbjNU
Journalist Seymour Hersh says US blew up Nord Stream pipelines connecting Russia to Germany: https://youtube.com/watch?v=bZ5VLdqac-0
Topics
0:00 Introduction: US economic warfare
3:49 Western sanctions on Russia backfire
20:47 China resists US tech sanctions
30:48 Outro: Sanctions are failing
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US hypocritically attacks China on climate change, while Beijing leads world in renewable energy
The United States is the largest historic contributor to climate change, yet Washington is condemning Beijing for supposedly not doing enough. In reality, China is leading the world in the transition to renewable energy technology.
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How neoliberalism devastated the economy, fueling financial instability and extreme inequality
Political economist Radhika Desai discusses the origins of neoliberalism as a fringe ideology and how it became dominant, fueling extreme inequality, instability, and financialization.
This is a discussion of chapter 4, "Neoliberal and its financializations", from 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
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