Why (and how) the U.S. Has Launched a New Financial World War


BEIJING - OCTOBER 29:  Chinese and American na...

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Any, reasonably well informed and right-minded person must have been wondering just what the hell has been going on with the money being pumped into the financial system and continuing to “disappear”!?

The article, from which this extract is taken can be found here. It MAY answer some pretty obvious questions…and pose plenty of new ones!

Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means? All that is required is for central banks to accept dollar credit of depreciating international value in payment for local assets.

Victory promises to go to whatever economy’s banking system can create the most credit, using an army of computer keyboards to appropriate the world’s resources. The key is to persuade foreign central banks to accept this electronic credit.

 

The Author: Michael Hudson is a former Wall Street economist. A Distinguished Research Professor at University of Missouri, Kansas City (UMKC), he is the author of many books, including Super Imperialism: The Economic Strategy of American Empire(new ed., Pluto Press, 2002) and Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy. He can be reached via his website, mh@michael-hudson.com

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Socio-Political complexity…naturally!


Monkeys to Politicians...how did I miss that!?

POLITICAL structures evolve in much the same way as biological species, according to new research. And just as species can decline and vanish without warning, unstable political groupings can also degrade and disappear.

The similarities between animal evolution and political evolution are revealed in research published last week in the journal Nature. The international research team from Japan, the UK and New Zealand [led by Thomas Currie of the University of Tokyo], showed how it could build “family trees” for emerging political structures to map out their evolutionary development.

The thing that most startled the researchers was the fact that “cultural evolution” could be mapped on to a family tree.

“This study highlights the benefits of applying the same kinds of techniques used to study complex systems in nature to investigate long-term human social and cultural evolution,” the authors write.

“Interestingly, these results indicate that political evolution, like biological evolution, tends to proceed through small steps rather than through major jumps in ‘design space’,” they say.

The price of complexity…

They also found, however, that retrograde steps do not have to progress on this “sequential” basis and can come apart more quickly than they are assembled over time.

“This could occur if small, peripheral groups break away from the control of a centralised state or complex chiefdom, or found new societies with fewer levels of political organisation, or it could occur as part of a rapid, more widespread societal collapse and the breakdown of political institutions leaving smaller, less politically complex groups in some regions.”