Is the Dollar the key to US hegemony?

02/05/202217/12/2023

Is US puIs the Dollar the key to US hegemony? And the corollary being obvious: If the Dollar is no longer king does US hegemony die with it?

First aired on Monday 2 May 2022 on AL Mayadeen network

Our show is hosted by George Galloway with experts in London and around the world over the internet links.

Note: This is the format we adopted following the Covid-19 pandemic. It is not clear when we might go back to the format with audience present in studio.

Some Talking Points

Why did the US withdraw from Afghanistan now?
Visa and Mastercard has been replaced by the Union card sounds like a good move to me of course based on the Chinese currency and the Chinese financial mechanisms is that the shape of things to come?
They’ve excluded Russia from the SWIFT system the inter-bank settlement system as they previously did for example with Iran as an economic sanction, do you think this kind of move is going to work?
If Iran, Russia, china are already using a new and parallel system of financial exchange will other countries join that? Will India join it? Will Brazil join it? Venezuela? There are many places in the South and in the East that could do with getting out from under the Dollar hegemony?
Is this the beginning of the end of Dollar hegemony or to paraphrase Mr Churchill is it merely the end of the beginning?
This conflict’s not just a military one – is it – it’s an economic war. If you agree with me how did we end up here?
This economic war want to end up causing damage to all parties to the conflict perhaps the European economies most of all? – Russia’s insistence on being paid in Rubles for example, for its energy, is that going to change everything?

A production of Narcissi for Al Mayadeen TV

Watch the full debate on George Galloway page:

Almayadeen TV page:

Narcissi Production page:

Contributors:

Dr Francisco Dominguez	Author, Expert in Political economy; Middlesex University
Shabbir Razvi	Economist and Political analyst
Major David McBride	(Video link from Canberra, Australia) Former British Army major and Australian Army lawyer
Prof. Michael Hudson	Video link from Missouri,Kansas, USA A Wall Street Financial Analyst; President of The Institute for the Study of Long-Term Economic Trends (ISLET)
Clive Menzies	Researcher and analyst of political economy He writes at “outersite.org”
Prof Steve Keen	Video link From Bangkok, Thailand Australian economist and author Honorary Research fellow at University College London His patreon: www.patreon.com/ProfSteveKeen