Category Archives: Currencies

NATO-Russia Proxy War – Revealing Signs of a Fading America: Michael Hudson

Michael Hudson continues his political and financial analysis of the war in Ukraine.

Michael Hudson Talks with the Saker About the Russian Counter-Sanction of Paying for Its Gas With Roubles

Michael Hudson answers the Saker’s questions about the ramifications of Russia’s “gas only for roubles if you have been mean to us” measure.

Some Additional Comments on the Russian Counter-Sanction of Requiring Gas Payments in Roubles

Attempting to clear some of the fog around the Russia counter-sanction of requiring rouble payment for gas by “unfriendly nations.”

Russia Counter-Sanctions “Unfriendly Nations” by Requiring Gas Payments in Roubles; Dallas Fed Predicts 2022 Global Recession if Russian Energy Supply Remains Restricted

Clearing up misunderstandings about the Russian move to require unfriendly countries to pay roubles for gas.

Stagflation Threat: Be Pragmatic, Not Dogmatic

More discussion of the current, misguided central bank use of interest rates to combat inflation, and what will probably become stagflation.

Michael Hudson Discusses Russia Sanctions Blowback on the Renegade

Michael Hudson revisits how US sanctions will ultimately hurt its economy more than Russisa’s, as crippling the dollar hegemony.

Ukraine Updates and Scott Ritter on Russia Military Strategy and Progress

Some over the weekend sightings on the war in Ukraine.

Is China Socialist or State Capitalist? – Michael Hudson and Patrick Bond

Michael Hudson and Patrick Bond: Will China resist financialization and lead the way on climate policy, or is it practicing capitalism lite?

An American in Siberia Gives a Preliminary Assessment of the Impact of Sanctions on Russia

An on-the-ground take on how Western sanctions are affecting ordinary Russians.

America Shoots Its Own Dollar Empire in Economic Attack on Russia

The US is gambling with its superpower status by putting its dollar hegemony in play to hurt the Russian economy.

Fog of Financial Sanctions: Visa and Mastercard Shutdown in Russia Whacks Consumers

Russia is scrambling to deal with being shut off Visa and Mastercard.

A Very Preliminary Look at the Partial Suspension of Russia’s Access to SWIFT

News on the partial SWIFT cutoff for Russia was fuzzy. Despite being included, its central bank intervened in FX markets this AM. What gives?

Global Financial Risk Factors and Sovereign Risk

An increase in global financial risk causes a large and persistent widening of sovereign spreads, with the spillover effects especially pronounced for speculative-grade sovereign debt

IMF Surcharges: A Lose-Lose Policy for Global Recovery

The IMF seems unable to drop its punitive, self and “client” destructive habits.

Michael Hudson: America’s Real Adversaries Are Its European and Other Allies

America has gone off the deep end re Ukraine. It’s pressuring allies to engage in economic self-harm, which is not a relationship-builder