Is Washington's rescue of the yen an act of friendship, or a sign that the dollar system itself is beginning to crack? I am joined by economist Michael Hudson to unpack the US intervention to save a collapsing yen and why the official story of "solidarity" masks a far more desperate calculation. Michael explains how the yen's weakness threatens the carry trade and capital inflows the dollar system depends on, why the US chose to sell euros rather than dollars to defend it, and how even long-time dollar bulls like Barry Eichengreen now admit the intervention exposes Washington's growing reluctance to let foreign central banks touch their own reserves. We examine the mounting evidence of dollar fatigue, from the ECB now holding more gold than dollars, to the flood of new Treasury issuance the market must somehow absorb, to a Federal Reserve whose credibility is increasingly in question. Michael argues this is not simply a story about Trump's erratic instincts, but about a financial order that is running out of options.
Michael Hudson: Trump Is Desperate To Save The Dollar Ponzi Scheme | GEH W/ Radhika Desai
I have not previously read anything by this Nel Bonilla, but she has some very interesting insights into how societies are being "secured," once 5 percent of GDP was decided to be directed toward militarization, and then that money is directed, more or less, toward large private corporations — and all of this under the tight direction of the USA, while at the same time the Western European countries are running down their welfare societies.
The article is a long essay, but it is worth reading once you have suitably free time.https://worldlinesletter.substack.com/p/nato-30-the-transatlantic-cage-and
Nobody can understand this bullshit.