“Paul Volcker? The financial crisis guy? Seriously?” I said. Paul Volcker assisted President Obama in regulating Wall Street after the 2008 financial crisis. Varoufakis laughed. “Americans tend to have a memory that spans a maximum of ten years. Volcker said: What are we going to do now? How will we retain our hegemony if we don’t have surpluses to recycle? Then he said: If we can’t recycle our surpluses, we’ll recycle everyone else’s surpluses. And this is the second phase of the global plan.”
