EDITOR’S NOTE: Michael Hudson is one of the best world economists and among the top guys who advised China, very successfully, to take the road of the so-called “mixed economy” (a mixture of free economy and state planning).  “mixed economies were the rule for thousands of years of human history. With his Marxist background, he also explained very lucidly the true capitalism of our days, the “rentier capitalism.”… I still remember since my youth, the leader of PASOK and later PM of Greece, Andreas Papandreou, made the same explanation.  Papandreou was superb in teaching as a former professor of Economics at Berkeley for many years.  My friends, this is the concept of “free lunch”, the same concept that determines our lives now…

In parenthesis, I note that Andreas Papandreou is especially liable because he was fully aware of how the “system” worked.  At the time he rose to power (1981) Greece had minimal debt, only about 28% of GDP.  Yet, despite the fact he was fully aware, in his first 8 years in power, he loaded the country with so much debt that by 1989, Greece was practically bankrupt once again, with a debt-to-GDP ratio close to 100%.

There is no reason for the U.S. government to give away its privilege of printing money and lending money to the “Banbksters”.  The US flourished in the 19th and early 20th centuries when it held all these powers on itself.  Then by gradually allowing the bankster to OWN the Federal Reserve Banks, even “partially”, it created a bunch of oligarchs that live off you and all of us paying them interest.  They spend their days in front of their books/computer screens “counting their pennies”, in essence, how much money we pay them, for which they have not done one stitch of real work. This is called the “free lunch capitalism:, the capitalism we all live one…

They tried to do the same in Russia, but history put a huge obstacle of a leader on their way, Vladimir Putin, who reversed their plans and took control of the money supply and Russia’s wealth.  This is why they are now seething with rage.  Not only that, but Putin managed to unite the rest of the world against them, who is now ready to expand the BRICS and take away the “free lunch” of the banksters…

This is an eye-opener for those of you who do not have a background in modern Marxist economic theory.  I must explain here that the Marxist theory must be distinguished from how it was practiced in the last century (prime example Andreas Papandreou, as discussed above).  A mixed economic system, like the one Russia, China, and other countries practice today, is the best option. THE MONEY SUPPLY HAS TO BE IN THE HANDS OF THE STATE SO DEBT CAN BE ELIMINATED WHEN NECESSARY.  AS IT WAS DONE IN ANCIENT GREECE – NOT BY DEMOCRACY BUT BY ARISTOCRACY (By Solon – the Greek term is “σεισαχθεια” literally meaning debt elimination).

BELOW THE INTERVIEW OF MICHAEL HUDSON – FOR THOSE WHO WATCH IT, IT WILL BE AN HOUR WELL SPENT…

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    • John F. Kennedy’s Address before the American Newspaper Publishers Association, April 27, 1961

      ‘Without debate, without criticism, no Administration and no country can succeed–and no republic can survive. That is why the Athenian lawmaker Solon decreed it a crime for any citizen to shrink from controversy. And that is why our press was protected by the First Amendment– the only business in America specifically protected by the Constitution- -not primarily to amuse and entertain, not to emphasize the trivial and the sentimental, not to simply “give the public what it wants”–but to inform, to arouse, to reflect, to state our dangers and our opportunities, to indicate our crises and our choices, to lead, mold, educate and sometimes even anger public opinion.’

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