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Quote by Michael Hudson

“There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe haven if international exchange rates break down.”

Quote by Michael Hudson

Author

Michael Hudson is a renowned economist, born in 1939. He has conducted extensive research in the field of economics, particularly in finance, real estate, and debt. Professor Hudson has held teaching positions at several prestigious universities and has authored numerous publications on economic theory and policy. more

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“The United States is pushing as policy division of the world into rival currency camps - the dollar area on the one hand, and the Russia-Chinese-Shanghai Cooperation Organization group on the other, especially now that the IMF has changed its rules. People think that if there are rival currency groupings and national currencies are going bust, we might as well use gold as a safe haven.”

“Look at Ukraine. Its currency, the hernia, is plunging. The euro is really in a problem. Greece is problematic as to whether it can pay the IMF, which is threatening not to be part of the troika with the European Central Bank and the European Union making more loans to enable Greece to pay the bondholders and the banks. Britain is having a referendum as to whether to withdraw from the European Union, and it looks more and more like it may do so. So the world's politics are in turmoil.”

World Looks May Problem Pay Unions Britain Currency Threatening Loan Greece Ukraine European Union Turmoil Euro Central Banks Referendums Imf Hernias

Author:Michael Hudson

“The world's politics are in turmoil, not to mention the Mideast, where the US has mounted attacks from Libya to Iraq to Syria, and ISIS is attacking governments in today's pipeline rivalry.”

World Government Today Iraq Syria Attacking Isis Turmoil Rivalry Libya Pipeline

Author:Michael Hudson

“The natural geopolitical arrangement is for Europe to be part of Eurasia, especially for Germany to develop trade and investment relationships with Russia.”

Natural Europe Trade Investment Russia Germany Arrangements Geopolitical

Author:Michael Hudson

“US opposition to Russia and China has entailed sanctions against Russia, and Russia in turn has made counter-sanctions against Europe. So Europe is essentially sacrificing its opportunities for trade and investment in order to remain part of NATO. It is also agreeing to bomb Syria and the Near East, creating a wave of refugees that it doesn't know what to do with.”

Knows Made Order Turns Opportunity Sacrifice Creating Europe Trade Investment Wave China East Russia Bombs Opposition Syria Refugee Sanctions Nato

Author:Michael Hudson

“It's amazing that Europe says, "What are we going to do with these refugees?" It's as if it doesn't realize that being part of NATO and bombing these countries forces them to choose to live by fleeing, or to stay and get bombed.”

Ifs Country Force Realizing Europe Live By Refugee Bombing Nato Fleeing

Author:Michael Hudson

“Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the Eurozone.”

Party Creating Gains Europe Flight Refugee Eurozone

Author:Michael Hudson

“Europe is acting in a very self-destructive manner, but is doing so because it's trying to be loyal to the United States.”

Trying Self States United Acting United States Europe Destructive Loyal Self Destructive

Author:Michael Hudson

“Most of the European leaders look at themselves as having to follow the United States, because if the US opposes them, there will be a regime change.”

Ifs Looks States United Leader United States Regimes Regime Change

Author:Michael Hudson

“Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.”

People Thinking Has Beens Real Country Interest Economy Fire Growing Produce Balance Labor Paid Finance Goods Assets Estates Sheets Goods And Services Debtors Balance Sheets

Author:Michael Hudson