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Michael Hudson on The Euro without Germany

Germany's rapid demise reminds me of German intelligence agent Bachmann in "A Most Wanted Man". He was led to believe he was operating on the same level as the CIA and British intelligence only to realize too late that he was being played all along.

Hudson goes all the way to what the fall of Germany will mean for the euro and what the options are for the countries of the Global South and Eurasia as they try to resist US hegemony.

By Michael Hudson, an economics professor at the University of Missouri, Kansas City, and a research associate at Bard College's Levy Economics Institute. His latest book is The Destiny of Civilization.

The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines at four points on Monday, September 26, has focused on speculation as to who did it and whether NATO will make a serious attempt to uncover the answer. Yet instead of panic, there was a great show of diplomatic relief, even calm. The disabling of these pipelines puts an end to the uncertainty and worries on the part of US / NATO diplomats that almost reached a crisis ratio the previous week, when large demonstrations were held in Germany calling for an end to sanctions and the post. to Nord Stream 2 to solve the energy shortage.

The German public was coming to understand what the closure of their steel companies, fertilizer companies, glass companies and toilet paper companies meant. These companies predicted that they would have to go out of business completely - or move operations to the United States - if Germany did not withdraw from trade and currency sanctions against Russia and allowed gas and oil imports to resume, and presumably retreat. by their astronomical increase from eight to ten times.

'Sapere aude'
by Oui (Oui) on Sat Oct 1st, 2022 at 04:22:31 PM EST

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