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SUPER IMPERIALISM (The Origin and Fundamentalism of U.S. World Dominance) by Michael Hudson, 1972 (2003 update). A Chautauqua Books review by David Leitch.
Independent political analyst and historian David Leitch calls attention to THREE IMPORTANT POINTS that Michael Hudson made 36 years ago. Those insights were picked up by Washington insiders, central bankers (i.e. those who control the Federal Reserve) and the U.S. Treasury Dept.
POINT ONE: THE GOLD STANDARD (WHAT WOULD HAPPEN?
When Hudson explained what would happen after the U.S. in 1971 went off the gold standard in, only Washington insiders, including central bankers, were paying any attention. When cold-warrior Herman Kahn of the Hudson Institute heard Michael Hudson speak, he hired him on the spot. His kind of insights should remain insider stuff.
David Leitch tells the story: "Hudson was invited to speak to audiences in the Treasury Department and the Federal Reserve. He told them, 'When you eliminate the gold standard, you [remove] any restrictions, you completely take the breaks off any kinds of surpluses, either financial or in trade,' Hudson told the bureaucrats: You don't have this claim on your gold reserves to keep your balance of payments in line.' Hudson said that he thought people in the Federal Reserve and Treasury [and others] within the U.S. government would say, 'Oh, yes, we can't do that.' But he said they [reacted], 'Oh, yes!' And the lights went on. They realized that they could achieve dominance through debt, rather than being a creditor, because [the U.S.] was quickly becoming a debtor nation. (The U.S. didn't officially become one until 1986.). They realized they could control the global economy and the global order by being a debtor."
In other words, Leitch adds, "The US gets a free ride... All of the surplus dollars come back into the US economy through the purchase of Treasury Bills and the US uses them to finance war and its budget deficits."
POINT TWO: SUPER-IMPERIALISM'S ORIGINS
Colonial imperialism gave way to 'super imperialism,' according to Hudson, after WWI (1914-1918). The U.S. entered the war in 1917 with special conditions, calling itself an 'associate,' not an 'ally'. In this way, the U.S. government collected war-induced debt from both 'victor' and vanquished. Britain and the other indebted colonial powers lost their colonies.
POINT THREE: IDEOLOGICAL CLIQUES TAKE & HOLD POWER IN THE U.S.
The drive to dominance, enforcing world indebtedness and debt collection, was not a product of industrialists or even bankers, Hudson says, but an ideological grouping that controlled government. Hudson maintains that bankers were willing to forgive debts of the allies (they would have made quite as much money, he says), but not the governmental apparatus in charge.
In effect, much like the Nazi regime under Hitler, the clique is able to flood key industrialists (munitions etc.) with contracts.
Hudson maintains that anti-communist ideologues and opportunists after WW II sold the cold-war agenda to eager arms manufacturers etc. and maintained hegemony until the Soviet Union was finally obliterated. Zbigniew Brzezinski is an example of an old cold warrior (a Bilderberger and an Obama adviser).
As is readily pointed out, a new enemy needed for the clique to maintain power. The 'Arab terrorist' was made to order; or rather, Hollywood-made-to-order. With the new clique now fully installed, any enemy of Israel's was now an enemy of the United States. It appears to be pretty much as Greg Felton says in his book, Host and the Parasite (How Israel's Fifth Column Consumed America). Hudson's book was republished by Pluto Press in 2003.