Join Lee Camp and Ben Norton in this captivating episode of Behind the Headlines as they delve into the changing world order, the rebellion of Latin America against Western hegemony, the ongoing proxy war in Ukraine, and the latest international political clashes.
Norton, a seasoned journalist who founded Geopolitical Economy, a Nicaragua-based news website that covers international relations with a focus on Latin America, U.S. Empire, and political economy, brings a fresh perspective to the table.
The conversation starts with the recent collapse of three U.S. banks and how Federal Reserve policies have fueled the class war that the wealthy elite is waging against the public. Norton argues that the Federal Reserve has been manipulating interest rates to control inflation while attacking labor movements to drive down wages, keeping interest rates low to protect the investments of the ultra-rich.
In reality, this economic growth since 2008 was not based on the real economy – on producing goods and services to help people to meet their needs. It’s all just speculation, and it’s all a big casino. And we now see that that bubble is being popped with the rising interest rates. And basically, what happened to SVB could happen to many other parts of the economy.”
Norton and Camp also explore the history and current status of the petrodollar, which is in freefall following the U.S. seizure of Russia’s U.S. dollar reserves during the early stages of the Ukraine war. Norton highlights that this has caused many countries to start trading in their own currencies, signaling a shift away from the U.S. dollar as the global reserve currency.
The discussion doesn’t stop there as the duo delves into the limits of blockchain technology, the irrationality of the U.S. startup market, and the evolution of energy markets in a multipolar world. Tune in to this fascinating episode to stay informed and gain a new perspective on the world’s most pressing issues.