Michael HUDSON: How Western Military Interventions Shaped the Brexit Vote; The Real NEWS Network, June 27, 2016

globalcrisis/globalchange NEWS
Martin Zeis, 29.06.2016

We continue the debate on BREXIT with an interview on The Real News Network with Michael HUDSON.

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http://www.counterpunch.org/2016/06/27/how-western-military-interventions-shaped-the-brexit-vote

How Western Military Interventions Shaped the Brexit Vote
MICHAEL HUDSON

Michael Hudson argues that military interventions in the Middle East created refugee streams to Europe that were in turn used by the anti-immigrant right to stir up xenophobia.

GREGORY WILPERT: Britain’s referendum in favor of leaving, or exiting, the European Union, the Brexit referendum, as the results are known, won with 52 percent of the vote on Thursday, June 23, stunning Europe’s political establishment. One of the issues that has raised concern for many is that what does the Brexit mean for Britain’s and Europe’s economy and politics. This was one of the main topics leading up to the referendum, but a lot of disinformation [reigned] in the discussion.

With us to discuss the economic and political context of the Brexit is Michael Hudson. He is a research professor of economics at the University of Missouri-Kansas City, and author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy. Also, he is an economics adviser to several governments, including Greece, Iceland, Latvia, and China. He joins us right now from New York City.

So let’s begin with the political context in which the Brexit vote took place. Aside from the right-wing arguments about immigrants, economic concerns, and about Britain’s ability to control its own economy, what would you say–what do you see as being the main kind of political background in which this vote took place?

HUDSON: Well, almost all the Europeans know where the immigrants are coming from. And the ones that they’re talking about are from the near East. And they’re aware of the fact that most of the immigrants are coming as a result of the NATO policies promoted by Hillary and by the Obama administration.
The problem began in Libya. Once Hillary pushed Obama to destroy Libya and wipe out the stable government there, she wiped out the arms–and Libya was a very heavily armed country. She turned over the arms to ISIS, to Al-Nusra, and Al-Qaeda. And Al-Qaeda used these arms under U.S. organization to attack Syria and Iraq. Now, the Syrian population, the Iraqi population, have no choice but to either emigrate or get killed.
So when people talk about the immigration to Europe, the Europeans, the French, the Dutch, the English, they’re all aware of the fact that this is the fact that Brussels is really NATO, and NATO is really run by Washington, and that it’s America’s new Cold War against Russia that’s been spurring all of this demographic dislocation that’s spreading into England, spreading into Europe, and is destabilizing things.
So what you’re seeing with the Brexit is the result of the Obama administration’s pro-war, new Cold War policy.

WILPERT: So are you saying that people voted for Brexit because they are really–that they were concerned about the influence of the U.S.? Or are you saying that it’s because of the backlash, because of the immigration that happened, and the fact that the right wing took advantage of that…
HUDSON: It’s a combination. The right wing was, indeed, pushing the immigrant issue, saying wait a minute, they’re threatening our jobs. But the left wing was just as vocal, and the left wing was saying, why are these immigrants coming here? They’re coming here because of Europe’s support of NATO, and NATOs war that’s bombing the near East, that is destabilizing the whole Near East, and causing a flight of refugees not only from Syria but also from Ukraine. In England, many of the so-called Polish plumbers that came years ago have now gone back to Poland, because that country’s recovered.
But now the worry is that a whole new wave of Ukrainians – and basically the U.S. policy is one of destabilization – so even the right-wing, while they have talked about immigrants, they have also denounced the fact that the European policy is run by the United States, and that you have both Marine Le Pen in France saying, we want to withdraw from NATO; we don’t want confrontation with Russia. You have the left wing in England saying, we don’t want concentration in Russia. And last week when I was in Germany you had the Social Democratic Party leaders saying that Russia should be invited back into the G8, that NATO was taking a warlike position and was hurting the European economy by breaking its ties with Russia and by forcing other sanctions against Russia.
So you have a convergence between the left and the right, and the question is, who is going to determine the terms on which Europe is broken up and put back together? Will it simply be the right wing that’s anti-immigrants? Or will it simply be the left saying we want to restructure the economy in a way that essentially avoids the austerity that is coming from Brussels, on the one hand, and from the British Conservative Party on the other.

(…)

HUDSON-Brexit-Military-Interventions160628.pdf

The Evil Empire Has The World In A Death Grip

In my archives there is a column or two that introduces the reader to John Perkins’ important book, Confessions of an Economic Hit Man. An EHM is an operative who sells the leadership of a developing country on an economic plan or massive development project. The Hit Man convinces a country’s government that borrowing large sums of money from US financial institutions in order to finance the project will raise the country’s living standards. The borrower is assured that the project will increase Gross Domestic Product and tax revenues and that these increases will allow the loan to be repaid. (…)

Now the book has been reissued with the addition of 14 new chapters and a 30-page listing of Hit Man activity during the years 2004-2015. http://www.amazon.com/New-Confessions-Economic-Hit-Man/dp/1626566747/ref=sr_1_1?s=books&ie=UTF8&qid=1456080628&sr=1-1&keywords=John+Perkins

Perkins shows that despite his revelations, the situation is worse than ever and has spread into the West itself. The populations of Ireland, Greece, Portugal, Spain, Italy, and the United States itself are now being looted by Hit Man activity. (…)

Quelle: The Evil Empire Has The World In A Death Grip

http://en.reseauinternational.net/the-evil-empire-has-the-world-in-a-death-grip/

The IMF Changes its Rules to Isolate China and Russia

The IMF Changes its Rules to Isolate China and Russia

The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-cen…

Quelle: The IMF Changes its Rules to Isolate China and Russia

Michael HUDSON: The IMF Joins the New Cold War; COUNTERPUNCH, Dec 9, 2015

globalcrisis/globalchange NEWS
Martin Zeis, 10.12.2015

On Tuesday „the IMF joined the New Cold War. It has been lending money to Ukraine despite the Fund’s rules blocking it from lending to countries with no visible chance of paying (the “No More Argentinas” rule from 2001).“
Hudson explains the message of this IMF/US-Empire-blow: “We only enforce debts owed in US dollars to US allies.” and his geopolitical scope: „…what was simmering as a Cold War against Russia has now turned into a full-blown division of the world into the Dollar Bloc (with its satellite Euro and other pro-U.S. currencies) and the BRICS or other countries not in the U.S. financial and military orbit.“ (further see attachment)

DECEMBER 9, 2015
The IMF Joins the New Cold War
by MICHAEL HUDSON
… But on Tuesday, the IMF joined the New Cold War. It has been lending money to Ukraine despite the Fund’s rules blocking it from lending to countries with no visible chance of paying (the “No More Argentinas” rule from 2001). With IMF head Christine Lagarde made the last IMF loan to Ukraine in the spring, she expressed the hope that there would be peace. But President Porochenko immediately announced that he would use the proceeds to step up his nation’s civil war with the Russian-speaking population in the East – the Donbass.
That is the region where most IMF exports have been made – mainly to Russia. This market is now lost for the foreseeable future. It may be a long break, because the country is run by the U.S.-backed junta put in place after the right-wing coup of winter 2014. Ukraine has refused to pay not only private-sector bondholders, but the Russian Government as well.
This should have blocked Ukraine from receiving further IMF aid. Refusal to pay for Ukrainian military belligerence in its New Cold War against  Russia would have been a major step forcing peace, and also forcing a clean-up of the country’s endemic corruption.
Instead, the IMF is backing Ukrainian policy, its kleptocracy and its Right Sector leading the attacks that recently cut off Crimea’s electricity. The only condition on which the IMF insists is continued austerity. Ukraine’s currency, the hryvnia, has fallen by a third this years, pensions have been slashed (largely as a result of being inflated away), while corruption continues unabated.
Despite this the IMF announced its intention to extend new loans to finance Ukraine’s dependency and payoffs to the oligarchs who are in control of its parliament and justice departments to block any real cleanup of corruption.
For over half a year there was a semi-public discussion with U.S. Treasury advisors and Cold Warriors about how to stiff Russia on the $3 billion owed by Ukraine to Russia’s Sovereign Wealth Fund. There was some talk of declaring this an “odious debt,” but it was decided that this ploy might backfire against U.S. supported dictatorships.
In the end, the IMF simply lent Ukraine the money.
By doing so, it announced its new policy: the IMF joined the New Cold War. It has been lending money to Ukraine despite the Fund’s rules blocking it from lending to countries with no visible chance of paying (the “No More Argentinas” rule from 2001). This means that what was simmering as a Cold War against Russia has now turned into a full-blown division of the world into the Dollar Bloc (with its satellite Euro and other pro-U.S. currencies) and the BRICS or other countries not in the U.S. financial and military orbit.
What should Russia do? For that matter, what should China and other BRICS countries do? The IMF and U.S. neocons have sent the world a message: you don’t have to honor debts to countries outside of the dollar area and its satellites.
Why then should these non-dollarized countries remain in the IMF – or the World Bank, for that matter? The IMF move effectively splits the global system in half, between the BRICS and the US-European neoliberalized financial system.
Should Russia withdraw from the IMF? Should other countries?
The mirror-image response would be for the new Asian Development Bank to announce  that countries that joined the ruble-yuan area did not have to pay US dollar or euro-denominated debts. That is implicitly where the IMF’s break is leading.  —  emphasis, m.z.  –
More Articles by Michael HUDSON on CounterPunch  –  Jun – Dec 2015
October 5, 2015
September 29, 2015
September 28, 2015
August 31, 2015
July 8, 2015
July 6, 2015
July 1, 2015
June 29, 2015
June 26, 2015

 

HUDSON-IMF-joins-New-Cold-War151208.pdf

Bailout deal allows Greek oligarchs to maintain grip – The Guardian

Bailout deal allows Greek oligarchs to maintain grip – The Guardian.

Bailout deal allows Greek oligarchs to maintain grip – The Guardian

The Guardian summed up my annotated version of Greece’s Third MoU with this title. Click here for the Guardi . . .

http://yanisvaroufakis.eu/2015/08/18/bailout-deal-allows-gr . . .

$60 Trillion of World Debt in One Visualization – Visual Capitalist

http://www.visualcapitalist.com/60-trillion-of-world-debt-in-one-visualization/

<div style=“clear:both“><a href=“http://www.visualcapitalist.com/60-trillion-of-world-debt-in-one-visualization/“><img src=“http://2oqz471sa19h3vbwa53m33yj.wpengine.netdna-cdn.com/wp-content/uploads/2015/08/world-debt-60-trillion-infographic.jpg&#8220; border=“0″ /></a></div><div>Courtesy of: <a href=“http://www.visualcapitalist.com“>Visual Capitalist</a></div>

Death by Debt: My Response to The German Finance Ministry, by Jeffrey Sachs

Yanis Varoufakis

Dr. Ludger Schuknecht, senior economist at the Germany Finance Ministry, explains his ministry’s viewpoint regarding Greece. This viewpoint essentially holds that Eurozone countries should live within their means; adjust to their debt burdens; and take their reform medicine as needed. If they do so, they will be successful, as illustrated by Ireland, Spain, and Portugal. Greece has only itself to blame, and indeed was on track to recover as of late 2014 if it had not deviated from its course.  

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