Creative People, I'll encapsulate this interview with Michael Hudson, which is available here as a transcript. Hudson explains that financial capitalism is extractive, not creative as was industrial capitalism. Financial capitalism got the upper hand when the US Treasury gave up its role of creating money to this private corporation, based largely in New York. This was the plan of J.P.Morgan and other globalist bankers. Prior to this industrial capitalism had been gaining power over extractive "rentier" interests, like hereditary landowning "nobles".
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