in yesterday's article: 2008 All Over Again

The war against international finance, and the array of intergovernmental systems and institutions used to enforce the predatory beast of global speculation, has begun. The question is, who will win? Will it be the banks, which intend to continue to pillage economies? Or will it be popular movements that will rise up to cancel debt and reinstate economic and political sovereignty?

Hudson sees the crisis in Europe as, in part, spawned by the U.S. intervention in the Middle East and the Ukraine.

“If there is anyone who is responsible for the Brexit, it is Hillary Clinton and Barack Obama,” he said. “They destroyed Libya. They turned over Libyan weapons to [Islamic State], al-Qaida and [Nusra Front]. It was their war in Syria, where many of these weapons ended up, which created the massive exodus of refugees into Europe. This exodus exacerbated nationalism and anti-immigrant sentiment. Clinton and Obama are also responsible for a huge exodus of Ukrainians. This is all a response to American war policy in the Middle East and the Ukraine. In central Europe, with the expansion of NATO, Washington is meanwhile demanding that governments spend billions on weapons rather than on recovering the economy.”
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The eurozone prohibits central banks from financing government budget deficits. Countries in the eurozone have, in effect, surrendered economic and political sovereignty. They cannot create money to cope with their budget deficits or pump money into the economy. This, Hudson said, has “turned the eurozone into a dead zone since 2008.”

“The eurozone now shrinks economies through debt deflation,” said Hudson, author of “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.” “That is one of the factors that led the British and the euroskeptic parties to say, ‘We don’t want to be a part of a Europe run by banks that impose debt deflation. We want governments that can create their own money to re-inflate the economy and build economic recovery.’ As long as a country remains part of the eurozone, bankers will continue to lower wages and wipe out pension funds to pay bondholders. The Brexit vote reverses this rotten program. There are now calls from the Netherlands, France and Austria for a similar referendum.”
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Britain’s withdrawal from the eurozone will damage not only the international banking system, but hamper Washington’s aggressive policies toward Russia and the Ukraine. Britain has served within the EU as an American proxy. German Social Democratic Party leaders, who have accused NATO of warmongering, have already called for the lifting of the sanctions against Russia. And there is a growing reluctance to continue supporting endless war in the Middle East.

“By breaking with the European bankers, you also ultimately break with the American domination of Europe through NATO,” Hudson said.
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If the liberal class, embodied by the Democratic Party and bankrupt socialist parties in countries such as France, continue to serve the bankers, the right wing will have an easy route to power. This will be true in Europe and the United States.

There you go. Helps a lot to listen and read Hudson.
Thanks.