Interesting interview dropped July 6th, 2026 by Michael Hudson on Robinson Erhardt
Bankers enforce War Loans and War Debts upon Governments
Banks mostly just want interest on the loans
The domestic market is shrunk by paying the interest on the debts
The bankers don't recycle the money they make into productive apparatuses, they mostly spend on luxuries and real estate speculation
The Roman church aimed to Romanize the churches, the German church was getting too close to the Eastern Orthodox churches
According to Hudson, the catholic church enforced control over secular governments through financial control so as to spread their version of christianity
Books by Michael Hudson I need to read more of his works
Hudson expects a debt default
I need to research 1980s debt moratorium
The Bolsheviks cancelled Russia's debts entirely ... extremely based (Hudson does not mention this)
Industrial capitalists (progressively) fought against the landed aristocracy who wished to maximize rent on the property
They wanted free trade which could reduce the unit costs
Free trade therefore is a threat against the rentier class
This is why Deng Xiaoping thought is so important to the Communist Party of China, we must unleash the forces of production so as to threaten economic rent
Monopolies are another form of economic rent
There are also natural monopolies which ought to remain in the public domain
Government infrastructure is a factor of production
We must tax the rentier class so as to lower the prices of doing business and making it more competitive
We shouldn't tax labor or industry
Only rentier capitalists and finance capitalists should be taxed
Abolish Income Tax
There's two economies
1. Production & consumption & Real Economy - should be tax-free
2. Finance & speculation & fictitious economy - evil, tax it, parasitic, late fees, rents, overhead, leeches
China is growing faster than the United States because China has kept banking as a public utility