The politics of gold: Economist Michael Hudson explains why gold's price is rising so much

Why has the price of gold been increasing so fast, breaking records? Economist Michael Hudson explains the politics of the precious metal, and the dynamics of the US dollar system. He is interviewed by Ben Norton.

Transcript: https://geopoliticaleconomy.com/2025/02/13/politics-gold-price-economist-michael-hudson/

Topics
0:00 Intro
1:49 Highlights
4:14 Interview starts
4:49 US dollar system & Super Imperialism
8:23 Dollar alternatives?
10:56 Why price of gold is rising
15:31 Gold market is political
21:10 Is gold an inflation hedge?
25:19 US military spending
27:33 Budget deficits & MMT
29:41 Gold standard critique
33:29 Politics of money creation
35:39 Commodity markets
38:01 Options trading
39:33 Central banks short selling gold
43:43 Gold leasing
48:01 How much gold is in Fort Knox?
51:03 Is there a run on gold?
1:02:50 Western central bank strategy
1:07:11 Outro