Tag: federal-reserve

The Creature Was Capitalism: G. Edward Griffin, Jekyll Island, and the Federal Reserve

G. Edward Griffin's "The Creature from Jekyll Island" attempts to unmask a so-called conspiracy by banking elites undermining capitalism. Yet, beneath his theories lies an unsettling truth: Griffin exposes the inherent flaws of capitalism while futilely attempting to defend it. His narrative highlights systemic financial abuses and government collusion, ultimately diverting the anger away from the capitalist system itself and scapegoating collectivism instead. By romanticizing a nonexistent capitalist golden age, he veils the violent realities of dispossession and exploitation that built America. Instead of dismantling the oppressive structures underpinning capitalist domination, Griffin's solution ironically calls for a purer capitalism, perpetuating the very cycles of exploitation he critiques.

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The Bill for Command: Hormuz, Treasury Yields, and the Rising Cost of American Power

NBC presents falling stocks, rising Treasury yields and volatile oil as separate market reactions to war. Put the pieces back together and a deeper political economy appears. The struggle over Hormuz is raising the cost of energy and global circulation while Washington is already refinancing enormous debts under sharply higher real yields. Those pressures don’t fall evenly: workers, indebted households and vulnerable importing countries absorb higher costs while energy producers and concentrated technology capital occupy very different positions. What looks like market turbulence is really a struggle over the rising material and financial cost of American command—and who gets forced to pay the bill.

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The Debtor Became the Banker: How America Learned to Rule the World by Owing It Money

Michael Hudson's "Super Imperialism" reveals capitalism's peculiar twist: the U.S. transitioned from a great creditor to a dominant debtor, utilizing its debts as leverage in a world where power dynamics are shifting. Post-World War I, American financial institutions crafted a system that exploited other nations through debt, claiming to promote development while actually enforcing dependency. The contradiction lies in the U.S. controlling the world's currency even as its productive supremacy fades. As the global landscape evolves, the implications of dollar dominance become increasingly tenuous, demanding us to confront a crucial question—who ultimately commands the productive forces that money can influence but not generate?

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Japan Can Shake the Dollar, but It Can’t Set the Rules: The Yen Inside the Dollar Machine

Reuters treats the yen’s violent swings as a market mystery, but the real story runs through the machinery of dollar-centered finance. Japan is a wealthy imperial-core creditor with enormous reserves and U.S. assets, yet its monetary choices remain constrained by U.S. rates, Treasury markets, imported energy, public debt, and capital flows. That dependence is reciprocal but unequal: Japanese instability can hurt Washington even as Tokyo adjusts inside a system it doesn’t command. And the costs travel downward. Workers win raises, then war-driven oil shocks, currency weakness, and inflation threaten to eat them away—turning monetary sovereignty into a class struggle over who pays.

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The Collateral of Empire: Debt, Power, and the Future

America's staggering $81.9 trillion debt is more than just a number; it's a complex web of financial claims overshadowing the real economic landscape. The nation's ability to issue dollars grants it a unique power, allowing it to leverage future incomes to accommodate debt—while the average worker grapples with mortgages, credit cards, and student loans. This contradictory system—where public power fuels private finance—disguises the inequality at play. As lenders profit, households struggle, further entrenching societal divides. The U.S. isn’t just a massive debtor; it’s a realm where debt serves as both a lifeline and a constraint, revealing the capitalist dance between ownership and obligation.

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Factories for the Fortress, Austerity for the People: America’s Imperial Reconstruction

The so-called manufacturing rebound lauded by CNBC is a deceptive mirage masking an imperial crisis. Beneath flashy growth numbers lie the ruins of a deindustrialized America, where financial extraction and reliance on foreign inputs have left vital sectors like semiconductors and military production at risk. Tariffs inflate costs, wars disrupt essential supply chains, and the resulting economic strain is shifted onto workers and marginalized communities. Capital demands industry without meaningful investment in labor or infrastructure, turning factories into fortresses of control rather than engines of prosperity. This isn't a renaissance; it's an imperial scramble desperately attempting to reclaim dominance amid its own financial decay.

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