Geopolitical Economy Report

The US Congress held a hearing titled "Dollar Dominance: Preserving the U.S. Dollar’s Status as the Global Reserve Currency", while countries around the world are joining the de-dollarization rebellion against Washington's exorbitant privilege. VIDEO: https://youtube.com/watch?v=94YZ9TKFOac

Economists Radhika Desai and Michael Roberts discuss the US debt ceiling deal reached by President Joe Biden and the Republican opposition, and what it means for the future of the economy. VIDEO: https://youtube.com/watch?v=fwZWYqcFvCY You can watch other episodes of their program Geopolitical Economy Hour here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP

Ben Norton discusses the rise and fall of US-led neocolonial financial order, from the 1944 Bretton Woods conference that established the US dollar as the global reserve currency; to the 1971 Nixon Shock that ended the gold standard, Volcker Shock, Third World debt crisis, and emergence of neoliberalism; and finally to the historic growth of China and consolidation of the Global South-led BRICS bloc. VIDEO: https://youtube.com/watch?v=XTq9P4avOEk

Former US President Donald Trump boasted at a campaign rally, "When I left, Venezuela was ready to collapse. We would have taken it over; we would have gotten to all that oil; it would have been right next door". This confirms the ulterior motives behind Washington's 2019 coup attempt with Juan Guaidó. VIDEO: https://youtube.com/watch?v=uqE-WqxfT1E Trump advisor John Bolton admits planning US coups in Venezuela and beyond: https://geopoliticaleconomy.com/2022/07/12/trump-john-bolton-coups-venezuela Trump wanted US military attacks on Venezuela, Defense Secretary Mark Esper details in book: https://geopoliticaleconomy.com/2022/05/19/trump-us-military-venezuela-mark-esper How Trump and John Bolton attempted a coup in Venezuela: https://youtube.com/watch?v=tzoJ_UVBV7w

Media falsely claims China building spy base in Cuba, Pentagon debunks the story. Manipulative nature of media exposed, impacting US-China relations. False narrative of Russia bribing Taliban debunked, CIA's role in spreading misinformation revealed. False claims of Havana syndrome discussed, contradictions within US government highlighted.

The BRICS bloc’s New Development Bank (NDB), an alternative to the US-dominated World Bank, is de-dollarizing its loans, promoting local currencies, and growing with new members from across the Global South. VIDEO: https://youtube.com/watch?v=ltteCyO366o Sources and more information here: https://geopoliticaleconomy.com/2023/06/06/brics-new-development-bank-dollar-adding-members Check out our related video "BRICS is adding members, planning new currency to challenge US dollar": https://youtube.com/watch?v=PfXyNqg8NDI

Foreign ministers from BRICS (Brazil, Russia, India, China, and South Africa) met to discuss expanding the Global South-led bloc and creating a new global reserve currency to challenge the US dollar. VIDEO: https://youtube.com/watch?v=PfXyNqg8NDI Sources and more information here: https://geopoliticaleconomy.com/2023/06/03/brics-adding-members-currency-us-dollar

Political economist Radhika Desai discusses how capitalism is inherently imperialist, what the class struggle looks like at the international level, and how "the dominant ideas are the ideas of the ruling classes of the dominant nations". This is a discussion of chapter 3, "The geopolitical economy of capitalism and socialism", from Radhika's book "Capitalism, Coronavirus and War: A Geopolitical Economy". VIDEO: https://youtube.com/watch?v=hhYsynUTc30 Other episodes in the series: https://youtube.com/playlist?list=PLDAi0NdlN8hNZoKp0XsLFwSxxlMQu6ye8 You can download Radhika's book for free here: https://geopoliticaleconomy.com/2023/02/17/capitalism-coronavirus-war-geopolitical-economy-radhika-desai

US politicians from both parties agree: the deficit doesn't really matter. In their bipartisan deal to raise the debt ceiling, Biden and Republicans agreed to boost military spending to $885 billion, while making it more difficult for the poor to receive food stamps and welfare. VIDEO: https://youtube.com/watch?v=QUygZa2Eyx4 Sources and more information here: https://geopoliticaleconomy.com/2023/06/02/debt-ceiling-us-military-food-stamps How a US debt trap in Argentina is fueling inflation, dollarization, far right: https://youtube.com/watch?v=1BRx90DhYWM US makes up c 40% of global military spending, 10x Russia, 3x China: https://geopoliticaleconomy.com/2023/05/02/us-military-spending-russia-china

Argentina is trapped in unpayable odious debt owed to US vulture funds like BlackRock and the International Monetary Fund (IMF). This is fueling extreme inflation and far-right demagogues such as Javier Milei, who are calling for dollarization, adopting the dollar as the country's currency. VIDEO: https://youtube.com/watch?v=1BRx90DhYWM Sources and more information here: https://geopoliticaleconomy.com/2023/05/25/argentina-us-dollar-inflation-neocolonialism How Argentina has been trapped in neocolonial debt for 200 years: An economic history: https://geopoliticaleconomy.com/2022/12/18/argentina-neocolonial-debt-history