The Great Simplification with Nate Hagens cover image

Alex Gladstein: "Debt Colonialism, The Petrodollar, and Bitcoin"

The Great Simplification with Nate Hagens

CHAPTER

The Rise of Interest Rates in the Global South

The age of cheap credit ends, right? So you have all of this dollar denominated debt in all these countries that can't print dollars. There's massive price inflation in the global south. And what happens is a good question. What was actually happening is that the farmers in Iowa were depositing their money and building up a banking system in the Midwest That was then making loans to a corrupt government in Angola.

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