Friday, February 12, 2010

Must Listen Interview - Dr Michael Hudson

Guns and Butter - The New Junk Economics: From Democracy to Neoliberal Oligarchy - February 10, 2010 at 1:00pm

Click to listen (or download)

It is only going to be available for a short time so you may wish to save it.

Article relevant to this interview: Deepening Debt Crisis: The Bernanke Reappointment: Be Afraid, Very Afraid
Related Speech: The Earth v the Neo-Liberal Paradigm – Prosper Australia speech


  1. Another very good documentary to understand what is happening from a historical perspective is This is a great movie on world history. Whether you like LaRouche or not, his documentaries are very well done and in high res for free.

    I find Hudson a little over simplified.

  2. well, that is one thing, I could never say about Hudson, over simplified.

    I am going to listen again, myself.

    One thing he makes abundantly clear, the impoverishment is intentional, and it is going to get worse, alot worse.

  3. What Hudson says, everybody (who is awake) knows. He does oversimplify things like when he says that our money must be taxed for it to be worth something. Without taxes people would stop trading in paper currency. I sort of agree with that but its a broad based statement - not entirely true.

    I'm going to listen to the interview again. LaRouche gets into the history and underlying problem. Banking is the symptom of a greater problem - the move back to feudalism desired by our ruling elites- the British Empire and its history and methods are important. There is a huge history behind this.

    There is a huge aspect to banking that is never discussed - its direct linkage to the legal system and how they are independent and one of the same. Law is commercial regulation of money and taxation- its not the money that is the problem its the law that enforces its value that makes for an oppressive society. Its not just a matter of oversimplified economics. No one discusses law in the mainstream patriot movement. Few people know about the Law Merchant and the 1933 bankruptcy.

    I don't trust anyone in the mainstream patriot movement regarding ideas about money and economics. I think that the LaRouche solution (CAP as well) is the only viable solution.

  4. I re-listened to it. Hudson explains things very well I think. The whole situation could be summed up as the fact that we earn our money into existence with our labour, then pay rent on it as well. He implies that Bernake is stupid, I don't believe that. These people are not stupid.

  5. I've been thinking about how to explain what Hudson and others have explained but in more succinct, clear and logical terms for years. It just occured to me tonight that we have a system that has us renting our own labour from banks. We never have and never will own it.

    But they really have set up the most diabolical system one could could ever imagine. I was talking to a certified financial analyst that used to work in a large corporation as a systems engineer today - someone that spoke real brainy like, was was firmly fixed in his idea(s) that the British Empire no longer exists and that corporatism is a good thing. He was 60 ish, retired.

    He assumed he was going to teach me something before my second or third sentence when the conversation started. He got uncomfortable when I asked about 9/11. These people are managers and leaders and they really have no idea what is happening and why. Their minds are gone.

  6. What he said about currency,
    it's worth in our perception is reinforced by the government collecting taxes.

    If the government did not collect taxes from us, which we pay in the 'money', we would move on from this system to something else.

    But because of taxes, the worth of the money is reinforced.

    That is pretty obvious and is a good reinforcement to keep us holding on to 'money'

    I didn't get the impression he thought Bernanke was stupid.
    He thinks his policies are wrong.

  7. What reinforces the money is the legal system as well. If it is lawful tender for all debts public and private in law, then it may have competition but no one could stop you from paying your debts in Fed notes.

    The taxation is what allows them to capture the rent on their money, without taxation they would not have the control.

    There are successful community currencies that are not taxed and these are based on paper.

    These guys do not discuss the interdependence of the legal and monetary system. They are as inseparable as seimese twins. The law is a different matter than the legal system.

    The bankrupcty of 1933 didn't get mentioned. There is a whole chunk of relevant stuff missing from this interview - the kind of things that may lead to understanding.