Prof. Michael Hudson’s new book, The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point” is a seminal event in this Year of Living Dangerously when, to paraphrase Gramsci, the old geopolitical and geoeconomic order is dying and the new one is being born at breakneck speed.
Prof. Hudson’s main thesis is absolutely devastating: he sets out to prove that economic/financial practices in Ancient Greece and Rome – the pillars of Western Civilization – set the stage for what is happening today right in front of our eyes: an empire reduced to a rentier economy, collapsing from within.
And that brings us to the common denominator in every single Western financial system: it’s all about debt, inevitably growing by compound interest.
Ay, there’s the rub: before Greece and Rome, we had nearly 3,000 years of civilizations across West Asia doing exactly the opposite.
These kingdoms all knew about the importance of canceling debts. Otherwise their subjects would fall into bondage; lose their land to a bunch of foreclosing creditors; and these would usually try to overthrow the ruling power.
Aristotle succinctly framed it: “Under democracy, creditors begin to make loans and the debtors can’t pay and the creditors get more and more money, and they end up turning a democracy into an oligarchy, and then the oligarchy makes itself hereditary, and you have an aristocracy.”
Prof. Hudson sharply explains what happens when creditors take over and “reduce all the rest of the economy to bondage”: it’s what’s called today “austerity” or “debt deflation”......more below
https://sputnikglobe.com/20230515/pepe-escobar-us-empire-of-debt-headed-for-collapse-1110374196.html
While trafficking young girls, he was also part of an effort to export military-grade systems to governments around the world
Rachel Marsden
By Rachel Marsden, a columnist, political strategist, and host of independently produced talk-shows in French and English.
rachelmarsden.com
When I first moved to New York, I walked into my new dentist’s office and genuinely wondered whether I’d accidentally wandered into a Victoria’s Secret audition.
The waiting room was full of stunning young women. Eventually I learned the dentist shared space with a modeling agency. You couldn’t tell who was getting veneers and who was getting a contract until you were halfway down the hallway.
Jeffrey Epstein’s life operated on the same architectural principle: two businesses shoved into one building, one involving underaged girls, the other involving powerful political figures, including some tied to the Israeli government. Not exactly whitening trays and catwalks, but equally disorienting.
...
The bloc wants to use the funds to back a “reparation loan” to Ukraine
US officials want the EU to return Russia’s frozen assets once it signs a peace deal with Ukraine, contradicting the bloc's plans to use them to finance Kiev, Politico reported on Tuesday, citing diplomats.
EU leaders want to issue a €140 billion ($160 billion) “reparations loan” to Kiev using frozen Russian funds as collateral, despite opposition from bloc member Belgium, which has repeatedly warned that the scheme carries financial and legal risks.
According to the outlet, American officials told the EU’s sanctions envoy, David O’Sullivan, during a visit to Washington this summer that they planned to return Russia’s frozen assets after a peace treaty is concluded.
Under the purported US 28-point peace plan leaked to media in November, $100 billion in frozen Russian assets would be invested in American-led “efforts to rebuild.....more below
Paris has authorized the use of private military companies to provide assistance to third countries, the SVR noted
France is still exploring ways to directly involve itself in the Ukraine conflict, Russia’s Foreign Intelligence Service (SVR) has said, citing a new government decree that authorizes the use of private military companies to assist foreign states engaged in armed conflict.
The agency claimed there is little ambiguity about which country France has in mind, given its sustained backing of Kiev. It argued that Ukraine’s mobile air-defense units and limited Western aircraft cannot fully counter Russian strikes, and that operating French-made Mirage fighter jets and other advanced systems requires expertise Ukraine does not possess.
The SVR stressed that the presence of French private military companies in Ukraine under the guise of “reference operators” would be regarded by Moscow as direct engagement by Paris in hostilities. It has also warned that such personnel ...
