Understanding money and the dollar system's contradictions with Radhika Desai & Michael Hudson
Geopolitical Economy Report
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What Makes Money Not a Commodity?
Banks have the privilege of just creating their own money, meaning they've created their product, debt, for the rest of the economy. The United States and with group imperialism is dominating the economy, not as a creditor now, but as a debtor. It owes so much money to foreign central banks that it can say, well, if you want your dollars to have any value, you'd better follow what the International Monetary Fund and World Bank tell you to do.
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