Richard Wolff has a VERY interesting life also you really have to look hard to find where he talks about it though, Richard Wolff and his late colleague Stephen Resnick are the modern days Marx and Engels
Augur Cybernaut hi for some reason I don’t get alerted anymore when I get replies. Does that happen to you? I agree Wolff takes on a salesperson type role. Micheal Hudson is the best. He’s number one on my list. I’m trying to read everything he has written. Right now I’m reading finance as war. I’ve also started capital. If he has read it then I will too. I can’t tell enough to people about him.
I concur with all the supportive comments. I only recently found professor Hudson on RU-vid but what has always determined my thoughts on economics and corruption was a book which I read whilst on strike in 1984 called hot money and the politics of debt ,it was fantastic. Ever since I been aware of the contemptuous individuals who try to control our lives by skullduggery, deceit, violence but pretending to be of high moral standing. It is wonderful to find the world's only truly honest economist.
The mischievous expression, the harmless matter of fact delivery and tone are almost too much. Rare is the segment of him that doesn't bring one or more smiles.
14:35 "Hot money and offshore banking centres starts at the top of the economic pyramid...with the oil industry, the mining industry, and the banking system...in the wealthiest monopolized sectors of the World...the United States does not want to prosecute foreign criminals!"
I was at Occupation Wall St. People that were arrested were released only after they gave up their ISP and cell number. The NYPD promptly sent all data to the NSA.. Participants of Occupation Wall St. were employed and unemployed young professionals with a career or job to protect. State surveillance can destroy anyone. This tactic is actively used....The smart phone is a great organizing tool but it is a danger to the individual...Develop a strategy.
08:05 - What was known from reading books . . . 08:23 - To close would require zero tax rate 08:50 - book in CANADA called HOT MONEY 08:52 - Republished off shore banking in book titled FINANCE CAPITALISM & ITS DISCONTENTS 09:00 - Issuing the denomination 100 for the FED-GOV currency unit 09:24 - The denomination 500 for the EURO currency 09:53 - 10:17 - 10:23 - 10:36 - Normal businesses try to minimize cash on hand, to put it into the business 10:49 - extractive, not productive
I thought I was the only one who found him cute! He’s so disarmingly good natured that if anyone who didn’t know him tried to debate with him they would, likely, not be able to see the danger and would get mauled.
@@mixerD1- i was hoping my satement would cuase shock horror and a bit of googling....yes he is still alive... since watching i have bought his red book and also killing the host... this guy is well worth investing in . a couple more of his books i want but a bit expensive at moment as i am in the uk....j is for junk economics, the bubble and beyond, and Trade, Development and Foreign Debt...but for me that is about 70 pounds or 100 dollars... i am sure they will be worth every cent ..but i already spent about 150 dollars on books this month.
If the US wants to be the the safe haven for drug money as you claim, then why do you say @22:32 that the banks here are "wary of prosecution by the justice department??" I'm confused
They have to channel the money indirectly, or through a shell office/company, they can't accept it directly into their own place without it being laundered, washed or netted in a foreign office or it will raise questions if it's above a certain limit or volume.
Interesting Vita, but at the core of his theory he has a problematic division of real economy and financial economy. A bit hitlerish division in "raffendes und schaffendes Kapital".
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Great Interviews all of them. Can you you talk more in detail about the mechanic's of some of the subjects and topics you've talked about, so that the layman can ascertain a better understanding of these convoluted and complex "banking" procedures and their overall purpose? This would better explain why politicians and bank system implemented and operated them, in order to understand the overall money trail and it's consequential impacts on society, e.g. poverty (increasing divide between rich and poor) , declining industries other than the financial sector and increase of stealth taxes on poor and middle class to make up on short fall of tax on capital. After all as Hudson stated, "you don't learn about these types of balance of payments (not imports & exports, but "flight capital") in economics class", you tend to learn these "dark arts" whilst working the banking/ financial sector.
Don't know if you'll read this since it's been a year but let me give it a shot at explaining it. It's not a simple thing to explain, and this is made worse when you get someone like Hudson explaining it who knows all the tiny details. He also uses a lot of terminology that is related to finance, so everything is a lot more clear if you understand the words he is using. But basically what he is saying is that criminals have all this money, cash, gold, etc. but they can't put it into a bank. This is important because if you put your money in a bank things become much more convenient, and there's certain things you can't do unless you have your money in a bank, one example is investing in the stock market, or sending money digitally (unless you want to use crypto which often fluctuates wildly). You don't have to pay for everything with cash, gold, etc., now you can use the digital system, you can pay for things online, you can make large purchases without attracting as much attention. So criminals want a bank they can put their money in, the US wants people to own US dollars, to use US banks you need to buy US dollars with your cash, gold etc., so the banks and the US government make a deal with the criminals. The US wants the criminals to buy US dollars because it increases the value of the US dollar. Think of someone investing in a company's stock. The more people buy it, the more the stock goes up in price. The US had a problem because they were spending all this money on the military, so they needed someone to give them, the US, money. The government wanted to continue the military spending, but they didn't have enough revenue to sustain the spending, so rather than raising taxes, etc. they got criminals to buy US dollars, raising the value of the dollar, increasing the value of the dollar means you can buy more things with that dollar, so they could spend more on the military. Lastly, the banks didn't want a clear line connecting their bank to the criminals, so they used offshore banks. These are basically in the US, since the countries (like panama) use the US dollar as their national currency, but they aren't in the US, so banks in them aren't held to the same strict types of laws, accounting audits, etc. So the offshore banks don't attract as much attention or have to deal with the same laws as the banks taking money directly from the criminals. For instance Chase, or Citi bank taking criminals money. Hopefully that is clear.
