During the last few weeks, the world has been dealing with the coronavirus outbreak. These days, however, many of the world’s citizens are growing more concerned over the government’s reactions than the virus itself. Moreover, with the U.S. economy feeling the hardship of over 30 million unemployed Americans and the petro-dollar on life support, many economists think that de-dollarization is coming and this period marks the end of U.S. monetary hegemony. Following the Covid-19 pandemic and the government’s recent schemes, the well known economist Michael Hudson has been explaining how America’s financial superpower could very well fail in the near future.
American Economist Michael Hudson: ‘De-Dollarization–Toward the End of the U.S. Monetary Hegemony’
On April 23, the Global University for Sustainability published a speech that was recorded last year on November 20, and it starred the well known American economist Michael Hudson. The talk called “De-Dollarization–Toward the End of the U.S. Monetary Hegemony,” touches upon the U.S. financial system’s fraudulent manipulation. Hudson has also recently appeared with Max Blumenthal and Ben Norton as well, in order to discuss the topic of ‘American Imperialism.’ During the speech, Hudson explained to the attendees how the American government and its central banking infrastructure created a system where foreign countries pay for its wars, and they even pay for military occupation through the U.S. Treasury bonds system.
On April 22, news.Bitcoin.com described the petro-dollar and U.S. monetary hegemony in full context, explaining how the creation of 1944 the Bretton Woods pact bolstered the system’s framework. In that article, it showed how America’s banking elite, otherwise
