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'Dollar suffered stunning collapse in market share' media warns, as Global South de-dollarizes
"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/
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Sanctions ‘undermine hegemony of dollar’, US Treasury admits
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
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BRICS Bank is de-dollarizing, promises loans in local currencies to help Global South develop
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
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Countries dropping dollar neutralizes US sanctions, complains neocon Marco Rubio
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
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Russia leaves neoliberal West to join World Majority
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.)
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France’s Macron opposes US cold war on China, wants independent Europe – but is it just rhetoric?
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/
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History of US empire: When JFK butted heads with Wall Street
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
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West vs the rest: World opposes sanctions, only US & Europe support them
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
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Countries worldwide are dropping the US dollar: De-dollarization in China, Russia, Brazil, ASEAN
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
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History of US empire: The Global South and JFK
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
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Inside Russia: Economists describe impact of Western sanctions and Ukraine war
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
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German lawmaker says US soldiers and nukes must leave her country
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
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Mexico’s AMLO calls out US ‘oligarchy’ at Biden’s ‘democracy’ summit
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
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Anti-TikTok laws threaten free speech to preserve US tech monopolies
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/
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UN lies about US military occupation of Syria, reporter calls out Ukraine hypocrisy
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.
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US threatened to invade International Criminal Court. Now it loves ICC for targeting Putin
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).
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Did big banks take over the Treasury? Bank crisis exposes public realities of private banking
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
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China & Russia pledge 'changes not seen in 100 years': Xi & Putin take aim at US dollar hegemony
China's President Xi Jinping traveled to Russia to meet Vladimir Putin, where they pledged "changes the likes of which we haven’t seen for 100 years", agreeing to deepen economic integration and challenge the hegemony of the US dollar by promoting the use of the yuan and other currencies in international trade.
BRICS challenges US ‘dollar dominance’, Saudi considers selling oil in other currencies: https://geopoliticaleconomy.com/2023/01/21/brics-us-dollar-saudi-oil-currency-multipolar/
Geopolitical game changer: China’s Iran-Saudi peace deal is big blow to petrodollar and US economic hegemony: https://geopoliticaleconomy.com/2023/03/17/china-iran-saudi-peace-petrodollar
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
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'Mexico is not a US colony!': AMLO condemns invasion threats, honors nationalization of oil, lithium
Mexico’s leftist President AMLO condemned “hypocritical” Republicans who want the US military to invade, declaring “Mexico is an independent and free country, not a US colony or protectorate!” In a massive rally, López Obrador also celebrated the expropriation of oil and lithium, condemning exploitative foreign corporations.
Sources and more information here: https://geopoliticaleconomy.com/2023/03/21/mexico-us-colony-amlo-invasion-nationalization-oil-lithium/
How Mexico’s progressive gov’t nationalized its lithium, the ‘white gold’: https://www.youtube.com/watch?v=-xmfX3fb7SQ
AMLO says Mexico is more democratic than oligarch-run USA, condemns State Dep’t ‘meddling’ against electoral reform: https://geopoliticaleconomy.com/2023/03/08/amlo-mexico-democratic-oligarch-us-meddling
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US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
The US Federal Reserve printed $300 billion in one week to save collapsing banks and bail out wealthy Silicon Valley oligarchs. 93% of Silicon Valley Bank's deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB's loans went to vulture capitalist and private equity firms.
US Federal Reserve says its goal is ‘to get wages down’: https://geopoliticaleconomy.com/2022/05/24/us-federal-reserve-wages-inflation
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Taiwan separatists lose key ally, Honduras recognizes China - just 12 small countries remain
Honduras' leftist President Xiomara Castro announced her government will recognize China. Now only 12 UN member states have formal diplomatic relations with Taiwan separatists. They have a combined population of less than 39 million, or 0.49% of the planet.
US military plans for war on China, backing Taiwan separatists: https://youtube.com/watch?v=ODbrpimBgKo
US-backed coup regimes trapped Honduras in unpayable odious debt, warns new President Xiomara Castro: https://geopoliticaleconomy.com/2022/01/31/coup-honduras-unpayable-odious-debt
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Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains
Economist Michael Hudson analyzes the collapse of Silicon Valley Bank, Silvergate, and Signature Bank, explaining the similarities to the 2008 financial crash. He also addresses the US government bailout (which it isn't calling a bailout), the role of the Federal Reserve and Treasury, the factor of cryptocurrency, and the danger of derivatives.
Check out the playlist for the show that Michael Hudson co-hosts here, Geopolitical Economy Hour: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
Michael's column "Why the US banking system is breaking up": https://geopoliticaleconomy.com/2023/03/12/michael-hudson-why-the-us-banking-system-is-breaking-up
Michael's other article "Why the US bank crisis is not over": https://geopoliticaleconomy.com/2023/03/13/michael-hudson-us-bank-crisis
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China brokers Iran-Saudi peace: big blow to petrodollar, geopolitical game changer
China sponsored peace talks that led Saudi Arabia and Iran to normalize diplomatic relations, in a big blow to the petrodollar. Both countries are major oil producers that have applied to join BRICS and are discussing selling energy in other currencies.
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
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How US dollar hegemony continued off the gold standard, with Radhika Desai & Michael Hudson
Economists Radhika Desai and Michael Hudson discuss the evolution of the US dollar system after it was taken off the gold standard in 1971.
Check out other episodes of their show Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
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AMLO says Mexico is more democratic than oligarch-run USA, condemns State Dep’t ‘meddling’
Responding to State Department criticism of Mexico’s popular electoral reform, President AMLO denounced US “meddling”, support for coups, and the Monroe Doctrine. He said, “There is more democracy today in Mexico than in the United States… because here the people govern, and there the oligarchy govern”.
Sources and more information here: https://geopoliticaleconomy.com/2023/03/08/amlo-mexico-democratic-oligarch-us-meddling/
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