{"id":18020,"date":"2016-02-19T11:50:57","date_gmt":"2016-02-19T16:50:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18020"},"modified":"2016-02-19T11:50:57","modified_gmt":"2016-02-19T16:50:57","slug":"the-new-global-financial-cold-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18020","title":{"rendered":"The New Global Financial Cold War"},"content":{"rendered":"<h3 class=\"headline\"><a href=\"http:\/\/www.counterpunch.org\/2016\/02\/19\/the-new-global-financial-cold-war\/\" rel=\"bookmark\">The New Global Financial Cold War<\/a><\/h3>\n<p class=\"post_meta\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-79954\" src=\"http:\/\/uziiw38pmyg1ai60732c4011.wpengine.netdna-cdn.com\/wp-content\/dropzone\/2016\/02\/shutterstock_309846272-1.jpg\" alt=\"shutterstock_309846272 (1)\" width=\"500\" height=\"334\" \/><\/p>\n<div class=\"post_content\">\n<p><em><strong>The Guns and Butter Interview<\/strong><\/em><\/p>\n<p><em>Suppose a country owes money to another nation\u2019s government or official agency. How can creditors collect, unless there\u2019s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they\u2019re saying: \u2018We\u2019re not going to be part of that anymore. We\u2019re only working for the U.S. State Department and Pentagon. If the Pentagon tells the IMF it\u2019s okay that a country doesn\u2019t have to pay Russia or China, then now they don\u2019t have to pay, as far as the IMF is concerned.\u2019 That breaks up the global order that was created after World War II. The world is being split into two halves: the U.S. dollar orbit, and countries that the U.S. cannot control and whose officials are not on the U.S. payroll, so to speak.<\/em><\/p>\n<p><em>Dr. Michael Hudson. \u00a0is a financial economist and historian. He is President of the Institute for the Study of Long-Term Economic Trends, a Wall Street financial analyst and Distinguished Research Professor of Economics at the University of Missouri, Kansas City. His 1972 book,\u00a0<a href=\"http:\/\/www.amazon.com\/exec\/obidos\/ASIN\/0745319890\/counterpunchmaga\">Super Imperialism<\/a>\u00a0is a critique of how the United States exploited foreign economies through the IMF and World Bank. His latest book is\u00a0<a href=\"http:\/\/store.counterpunch.org\/product\/killing-the-host-digital-book\/\">Killing the Host: How Financial Parasites and Debt Destroy the Global Economy<\/a>. Today we discuss his article, \u201c<a href=\"http:\/\/www.counterpunch.org\/2015\/12\/18\/the-imf-changes-its-rules-to-isolate-china-and-russia\/\">The IMF Changes Its Rules to Isolate China and Russia<\/a>.\u201d<\/em><\/p>\n<p><em><strong>Bonnie Faulkner:<\/strong>\u00a0Michael Hudson, welcome. It\u2019s been far too long since we\u2019ve last spoken.<\/em><\/p>\n<p><strong>Michael Hudson<\/strong>: Well, it\u2019s good to be back. Last time we were together was in Italy.<\/p>\n<p><em><strong>Bonnie Faulkner:<\/strong>\u00a0That\u2019s right, Rimini, Italy. What year was that?<\/em><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The New Global Financial Cold War The Guns and Butter Interview Suppose a country owes money to another nation\u2019s government or official agency. How can creditors collect, unless there\u2019s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they\u2019re saying: \u2018We\u2019re not going [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[12503,130,5493,12501,12502,418,434,6279,620,694,2344,862,888],"class_list":["post-18020","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-bonnie-faulkner","tag-china","tag-counterpunch","tag-global-financial-cold-war","tag-guns-and-butter","tag-imf","tag-international-monetary-fund","tag-michael-hudson","tag-pentagon","tag-russia","tag-us-state-department","tag-war","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18020"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18020\/revisions"}],"predecessor-version":[{"id":18021,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18020\/revisions\/18021"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}