NO ADVERTISING, GOVERNMENT OR CORPORATE FUNDING

  • Latest News
  • Pitch a Story
  • Work with a Journalist
  • Join the Blog Squad
  • Afghanistan
  • Africa
  • Asia
  • Baltimore
  • Canada
  • Egypt
  • Europe
  • Latin America
  • Middle East
  • Russia
  • Economy
  • Environment
  • Health Care
  • Military
  • Occupy
  • Organize This
  • Reality Asserts Itself
  • US Politics
  • How The World Bank & IMF Plan to "Dismantle" Ukrainian Economy


    Michael Hudson: The West looks to ramp up gas production as Vice President Biden's son named leader in Ukrainian gas company Burisma -   August 4, 2014
    Members don't see ads. If you are a member, and you're seeing this appeal, click here

    Audio

    Share to Facebook Share to Twitter



    I support the Real News Network because of their bravery, integrity, informative and educational - David Pear
    Log in and tell us why you support TRNN

    Bio

    Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and its Discontents. His upcoming book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.

    Transcript

    How The World Bank & IMF Plan to JESSICA DESVARIEUX, TRNN PRODUCER: Welcome to The Real News Network. I'm Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report.

    Now joining us is Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City.

    Thanks for joining us, Michael.

    MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Good to be here, Jessica.

    DESVARIEUX: So, Michael, we've been covering Ukraine quite extensively. And I know you've been keeping track of things on the economic front. What's the latest?

    HUDSON: Well, one of the things that has not been in the news is that a recent Senate bill, 2277, directed the U.S. Agency for International Development to begin guaranteeing loans for the fracking of oil and gas in the Ukraine. And Vice President Biden's son has become the head of the biggest fracking company in the Ukraine. And what's not usually known is that the armies from Kiev that are marching into the Eastern of Ukraine have been basically protecting the fracking equipment.

    Now, for the last nine months, local cities in the east in Ukraine have said, wait a minute, we want local control over the fracking. The people in the city of Sloviansk wanted to oppose the shale gas field from being developed, 'cause they said, look, this is going to destroy our water supply and our land. And essentially what Kiev is doing is saying, well, you're terrorists if you're opposing the oil drilling.

    Now, just imagine in this country if President Obama and Vice President Biden were to send troops into upstate New York, which has opposed oil/gas drilling, and bombed Rochester, bombed Buffalo, and began just bombing the cities and shooting the opponents of the fracking. That's exactly what's happening in the Ukraine. And they're doing this supported by the World Bank. The whole attempt is to make Ukraine independent from having to get the gas imports from Russia. And yet already the neighboring Czech Republic, the Netherlands, France, Germany, they've all--Germany's halted the shale gas drilling for seven years because they worry it's going to destroy the groundwater.

    Now, in the Eastern Ukraine, where the fighting is now, all of the groundwater under Dnieper and the other major water flows flow into Yalta and into the Crimea. They've turned off the water, most of the water, to Crimea, trying to starve it. So there's a diversion of water away from agriculture towards the fracking.

    Meanwhile, in the Western Ukraine, the World Bank has been supporting essentially the large-scale alienation of agricultural land to foreign investors. The World Bank is a wonderful index. It's the index of screwing labor and destroying the environment. They call it the ease of doing business index. But the index for agriculture, they have a special index just for ease of doing business in agriculture. And that means getting rid of rules against pesticides, getting rid of rules against labeling food, against additives, and against everything. And it's very much like the Trans-Pacific Partnership proposal and the Transatlantic partnership proposal. The problem is that Europe is actually opposing all of these pesticides and all the laboring. So you may have the irony of the Ukraine following the World Bank's directions and getting rid of the restrictions on agriculture and making it impossible to export its crops to Europe.

    The good thing is that in the past the World Bank has always opposed a country growing food crops. The aim of the World Bank in the past, since 1945, has been to make Latin America and Africa and other countries as export plantation crops and by their food on America from the U.S. farms. This is almost the first time that the World Bank has supported grain production, because that's what the Western Ukraine used to be, the bread basket of Western Europe. But in this case, the World Bank has said, we're going to support you only if you sell out your land to foreigners.

    So the intention is to make the Western Ukraine look something like Ireland in the 19th century, when the British landlords owned much of the Irish land, put sheep on it, getting rid of the people on the land. And even in the midst of the Irish potato famine, Ireland was still exporting grain to England, because the grain lands were owned by the British landlords. In this case, for the Ukraine what you're going to have is foreign ownership of Ukrainian agriculture exporting food that Ukrainians aren't able to buy because of the dismantling of the Ukrainian economy that you're seeing today as they're fighting the war there.

    DESVARIEUX: Alright. Michael Hudson, thank you so much for joining us.

    HUDSON: Good to be here.

    DESVARIEUX: And thank you for joining us on The Real News Network.

    End

    DISCLAIMER: Please note that transcripts for The Real News Network are typed from a recording of the program. TRNN cannot guarantee their complete accuracy.


    Comments

    Our automatic spam filter blocks comments with multiple links and multiple users using the same IP address. Please make thoughtful comments with minimal links using only one user name. If you think your comment has been mistakenly removed please email us at contact@therealnews.com

    Comments


    Latest Stories


    Historic Victory for SYRIZA and Alexis in Greece
    McCain Calls 'Cold Warriors' to School Senate on National Security
    The Saudis - Oil, ISIS and Revolution
    Republican Abortion Ban Could Put Pregnant Women's Lives in Peril
    GOP Leadership's Invitation to Netanyahu a Provocation Aimed at War with Iran
    'We are going to destroy the Greek oligarchy system'
    TRNN Replay: What are the Saudis Afraid Of? - Madawi Al-Rasheed (2/5)
    Greek Right Fears First Left Government in Greek History
    Pre-Election Posturing Behind Netanyahu's DC Visit
    SYRIZA Heads Towards a Majority in Greece as Elections Approach
    How Obama Can Reduce Carbon Emissions Without Congress
    Feds Won't Pursue Civil Rights Case Against Darren Wilson
    TRNN Replay: American Alliance with Saudi Dictatorship is Hypocrisy Dressed Up as "Realism"
    What Triggered AETNA's Pay Raise to $16/hour?
    Climate Change Crisis Buried in the State of the Union
    The Socialist Response to the State of the Union
    The Global African: Top Stories of 2014
    Can the Union Be Strong Amidst Global Recession?
    No Black or White America says Obama
    Does Obama's Support of TPP Contradict His Immigration Policy?
    Israel Kills Hezbollah Leaders Ahead of Elections
    GOP to Obama: North Korea Sanctions Aren't Enough
    The Making of Norman Finkelstein - Reality Asserts Itself (8/8)
    Removing the Social Security Tax Cap Would Benefit Most Workers
    The SYRIZA Challenge in Greece (2/2)
    The SYRIZA Challenge in Greece (1/2)
    The Function of Police in Modern Society: Peace or Control?
    Netanyahu's Elbowed Presence in Paris
    Lee-Jackson Day: Honoring Civil War Heroes Or Upholding White Supremacy?
    The Making of Norman Finkelstein - Reality Asserts Itself (7/8)

    RealNewsNetwork.com, Real News Network, Real News, Real News For Real People, IWT are trademarks and service marks of IWT.TV inc. "The Real News" is the flagship show of IWT and Real News Network.

    All original content on this site is copyright of The Real News Network.  Click here for more

    Problems with this site? Please let us know

    Linux VPS Hosting by Star Dot Hosting