RT Interview with Immanuel Wallerstein - Senior Research Scholar, Yale University:
What we're seeing is the last of many serial bubbles caused by "Finance and Speculation" - created by massive debt.
US Dollar Hegemony is over, US Domination is over and no efforts can bring it back.
Next 5-10years: World will consolidate into new alliances - there are currently 8 or 10 poles of global power - far too many... Russia is among one of the world's main poles of power - working with China and others. US likely to join forces with East Asia rather than Europe. EU enlargement aimed at straining Russia-West relations.
Arab world to pursue "own interests" in Middle East.
Excellent Interview!
4 comments:
Excellent post Randy. I seem to be in agreement with this man. I think we are looking at another year - two before the ultimate crash. Which is a good thing. Gives people a chance to prepare for what is coming.
Justin_N_IL
Just the rumor of other nations getting together and discussing pricing oil in a basket of currencies, vice the dollar, got the market rallying this morning.
Rumors lead to reality, so what's the play? Buy stocks that are exposed to International money? Avoid cash heavy stocks? If our economy collapses, forget mining stocks. You won't be able to afford to mine, and metal demand would plummet.
More than anything else it re enforces the fact that this country where I was born has been hijacked. Hijacked by the ultra wealth (perhaps not even U.S. citizens ...after all, who exactly owns the private Fed?).
Hijacked so as to be first and foremost concerned with protecting their interests.
At times I see these (now old and faded) bumper stickers that say "support the troops".
I read of the dept. of "homeland security" getting a new multiBILLION dollar headquarters built.
Do I identify with this? Do I support this? Hell no. These are organizations run amuck. Endless wars to feed the Military Industrial Complex. Endless wars on "whatever" (drugs, terrorists) to account for outrageous expenses and the fraudulent wastes of Washington DC's agents of cultibility.
They say the victors get to write the history books. Certainly I was taught in primary school that it was for the best that the North won the Civil War.
I don't think so. I think a new war for independence is brewing, a war against the 1984'ish Feds.
And this time the results need to be, WILL be ... different.
I have to go back to one major viewpoint and that is that elections don't matter. It surely appears that what we have is an economic financial crime syndicate with a board of directors controlled by the syndicate. This board is the Executive Branch. Their Share Holders are the Congress supporting the profits of the corporate syndicate bosses. This is an oligarchy.
The only way to affect them is to pull all of our available savings out of stocks and bonds and mutual funds. Now, if one has a 401K, then put the holdings into cash reserve money funds. Otherwise, pull all of your money out and place it into cash or whatever else you feel will provide liquidity.
If all Americans did this, then CONgress, Obama, Geithner, Bernanke and Wall Street will see that WE the People have power over their manipulations.
We can do this now. The market falls quickly if we all do this. Then, if we decide, we buy in at low prices, and then sell off really screwing up the minds of traders. We make announcements on Youtube that this is our plan.
If we all do this, then things will change in our favor.
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