For decades, the United States maintained global dominance through military power, the dollar, and an international financial system that encouraged the rest of the world to recycle its wealth back into American markets. But according to economist Michael Hudson, that model is breaking down—and Washington is replacing it with something even more coercive.
In this wide-ranging conversation, Hudson argues that today’s conflicts with Iran, Russia and China are not simply about security or ideology. They are part of a broader strategy to preserve U.S. economic supremacy by controlling energy supplies, AI infrastructure, shipping routes and the global financial system. As sanctions, wars and trade disruptions reshape the world economy, Hudson contends the United States is abandoning free trade in favor of monopolies enforced through military and economic power. The question, he says, is whether the rest of the world will continue accepting that system—or build an alternative.
- The End of the Old Global Order: Hudson argues that the post-1971 dollar system, which relied on foreign governments recycling their trade surpluses into U.S. Treasury securities and financial markets, has reached its limits.
- War as Economic Strategy: Rather than viewing conflicts with Iran, Russia and Venezuela as isolated geopolitical disputes, Hudson says they are part of an effort to preserve American financial dominance by controlling oil exports, shipping lanes and global payments.
- The Four New Monopolies: According to Hudson, Washington’s strategy now rests on monopolizing four key areas: energy, artificial intelligence and advanced computing, transportation corridors, and the dollar-based financial system.
- From Free Trade to Choke Points: Hudson argues that U.S. policy has shifted from promoting globalization to controlling strategic bottlenecks—from ports and pipelines to payment systems and semiconductor exports—in order to maintain leverage over allies and rivals alike.
- Europe’s Growing Dilemma: He contends that many European governments are acting against their own economic interests by accepting higher energy costs, deindustrialization and greater dependence on Washington rather than pursuing independent relationships with Russia and China.
- A World at a Turning Point: Hudson concludes that 2026 could mark a historic turning point as military escalation, energy shortages, food insecurity and competing economic blocs accelerate the transition away from the U.S.-led global order.
Prof. Michael Hudson, a world-renowned classical economist, discusses the US plan to revive its geoeconomic dominance. Follow the work of Michael Hudson: https://michael-hudson.com/ https://diesen-shop.fourthwall.com/en… Follow Prof. Glenn Diesen: Substack: https://glenndiesen.substack.com/ X/Twitter: https://x.com/Glenn_Diesen Patreon: / glenndiesen
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