Glenn Diesen - Greater Eurasia Podcast Michael Hudson: The Economic Unravelling of the Political West
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Dec 16, 2025 
In this enlightening discussion, Michael Hudson, a classical economist and author renowned for his insights on financialization and imperialism, delves into the economic fragmentation of the Political West. He critiques the coercive nature of the U.S. national security strategy that challenges the 1945 multilateral order. Hudson highlights the U.S.'s deindustrialization and financialization, urgent geopolitical maneuvers in Eurasia, and how European leaders prioritize short-term electoral gains over strategic economic ties. The conversation warns of rising anti-American sentiment as Europe's economic vulnerabilities become evident.
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From Multilateral Order To America‑First Coercion
- The post‑1945 multilateral economic order has been reversed into an America‑first coercive system.
- Michael Hudson argues the U.S. now forces allies to sacrifice their economies to prop up U.S. financial dominance.
Dollar Recycling Drove U.S. Deindustrialization
- After going off gold the U.S. recycled dollars into Treasury securities to finance deficits and deindustrialize.
- Hudson links military spending and dollar recycling to the U.S. loss of industrial self‑sufficiency.
Working The Gold Cover At Chase Manhattan
- Hudson recounts working as a balance‑of‑payments economist at Chase Manhattan in the 1960s.
- He recalls tracking U.S. gold losses and predicting the end of the gold standard.
