Prof Wolff joins The Socialist Program to discuss the intensifying U.S. efforts to apply pressure on global financial institutions in the Global South to enforce sanctions against Russia. Despite initial expectations for a quick economic collapse, Russia's economy has proven resilient, and Washington is now targeting banks in countries like the UAE and Turkey to cut off Russian access to global markets. Sanctions are a form of government intervention that dictates with whom businesses can trade, often leading to evasion and the search for workarounds by affected entities. The continued failure of sanctions against Russia over the past two years is seen as evidence of a shifting global economic balance and the waning influence of the U.S. Lastly, he critiques the use of "national security" as a catch-all justification for protectionist policies, which may not always align with the interests of workers or even all sectors of American capitalism.
The Socialist Program: New U.S. Threats Against Russia
March 20, 2024
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So the Federal Reserve was created to take the money printing power from the Treasury to limit misuse of “increased money printing” by the potentially abusive leaders who would use this power to protect themselves,,,, And in doing so instead empower the banks to control and keep the printing level authority, thereby increasing the the interest rate to the borrowers , allowing the banks to keep the people or general populous in perpetual debt!!
There are many forms of Fascism as you and modern America would define it, unlike the true control of economic forces to prevent this middle class exploitation, in its original doctrine.
Respectfully,