The Historical Role of Gold Dealers in Financial Crises

Why has the price of gold been increasing so fast, breaking records? Economist Michael Hudson explains the politics of the precious metal, and the dynamics of the US dollar system. He is interviewed by Ben Norton. VIDEO: https://www.youtube.com/watch?v=9Bvr2SZm-NM Transcript: https://geopoliticaleconomy.com/2025/02/13/politics-gold-price-economist-michael-hudson/ Topics 0:00 Intro 1:49 Highlights 4:14 Interview starts 4:49 US dollar system & Super Imperialism 8:23 Dollar alternatives? 10:56 Why price of gold is rising 15:31 Gold market is political 21:10 Is gold an inflation hedge? 25:19 US military spending 27:33 Budget deficits & MMT 29:41 Gold standard critique 33:29 Politics of money creation 35:39 Commodity markets 38:01 Options trading 39:33 Central banks short selling gold 43:43 Gold leasing 48:01 How much gold is in Fort Knox? 51:03 Is there a run on gold? 1:02:50 Western central bank strategy 1:07:11 Outro