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Is the Reign of the Dollar Coming to an End?: The Twenty-Fifth Newsletter (2024)
Dear friends, Greetings from the desk of Tricontinental: Institute for Social Research. In early June, a rumour began to circulate – which was widely reported in the Indian press as true – that the government of Saudi Arabia had allowed its petrodollar agreement with the United States to lapse. This agreement, made in 1974, is quite straight-forward and fulfils various needs of the […]
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An American flag, a pencil sharpener−and the 10 Commandments: Louisiana’s law to mandate biblical displays in classrooms is the latest to push limits of religion in public schools
Louisiana is not a stranger to controversy over religion in schools.
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Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
The Russian economy has overtaken Japan to become the fourth largest in the world in PPP terms (purchase power parity), according to revised data from the World Bank released at the start of June. As bne IntelliNews reported in August, Russia had already overtook Germany to become the fifth biggest economy in adjusted terms. Hit by multiple shocks […]
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Unconditional Support – The United States Is the Main Obstacle to Peace in Palestine
On June 13, Hamas responded to persistent needling by US Secretary of State Antony Blinken over the US proposal for a pause in the Israeli massacre in Gaza. The group said it has “dealt positively… with the latest proposal and all proposals to reach a ceasefire agreement.” Hamas added, by contrast, that, “while Blinken continues to talk […]
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Three lessons I learned on my visit to Cuba
The U.S. blockade on Cuba, in place since the 1960s, is an act of economic warfare.
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Current and former U.S. military personnel build a movement for Palestine within their ranks
On February 25, U.S. Air Force member Aaron Bushnell became the first active duty U.S. soldier to earn the title of “martyr” among oppressed people worldwide.
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Red Reviews: “Wages, Price, and Profit”
Karl Marx is best known in the realm of political economy for his great work, Capital. Marx is the original theorist, together with his associate Friedrich Engels, of scientific socialism. Marx wrote Capital in order to expose the inner workings of capitalism, so that workers could understand the system behind their exploitation, how this system […]
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Quantum dialectics
The quantum revolution in physics played out over a period of 22 years, from 1905 to 1927. When it was done, the new theory of quantum mechanics had completely undermined the basis for our understanding of the material world. The familiar and intuitively appealing description of an atom as a tiny solar system, with electrons orbiting the […]
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China rejects U.S.-led auction of Venezuelan company CITGO
On Tuesday, China strongly condemned the seizure of CITGO Petroleum Corporation by U.S. authorities, calling the move a flagrant violation of international law.
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NUMSA statement on the national elections results and coalitions: A coalition with the DA will squash and liquidate the working class!
The National Union of Metalworkers of South Africa (NUMSA) has noted the election results following the elections which took place on the 29th of May. For the first time since the dawn of democracy, the governing party, the African National Congress (ANC) lost majority control of the National Parliament, giving way to a scenario where […]
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Dockworkers in Greece refused to load arms shipment destined for Israel, forced cargo ship to change route
The militant mobilization of dockworkers at Greece’s major port, Piraeus, on Saturday 15 June led to the cancellation of the arrival of “MSC ALTAIR”, a container ship transporting weaponry and ammunition to Israel.
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Feeling the pain: Inflation, wages, and the working class
Once again the mainstream press is touting a “blowout” jobs report.
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Biden torpedoes access to asylum at the U.S. Southern Border
The new Executive Order comes during a period of rising migration across the hemisphere.
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Brace for hurricanes: In the U.S., ‘on your own;’ in Cuba, ready & united
The 2024 Atlantic hurricane season officially began on June 1, and meteorologists expect a bad one.
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The U.S. power structure is blindly dedicated to Israel
When the board of the Columbia Law Review clumsily censored a pro-Palestinian article it revealed the degree to which pro-Israel ideology is enmeshed in the U.S. power structure. Luckily, a generational shift is changing this before our eyes.
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What is the realistic strategy for “de-dollarisation”?
As there can only be one price standard in any functioning economic system the transition from one price standard to another cannot take place gradually, or in a mixed way, but must take place sharply, and therefore completely in a very short time frame.
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Beverley Best – “The Automatic Fetish: The Law of Value in Marx’s Capital”
Capitalist crises cannot only be measured by its catastrophic effects on society, but also by the reception of their most staunchest critique: Karl Marx’s Capital.
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Shifting power: New Zealand on U.S. decline
After meeting with Secretary of State Antony Blinken last April, New Zealand’s Minister of Foreign Affairs, Winston Peters, said that the two countries had pledged “to work ever more closely together in support of shared values and interests.” In recent moves exemplifying this support, New Zealand has deployed a targeting team to a United States-led coalition conducting strikes against Yemen, extended its military participation in the U.S. proxy war in Ukraine, and is considering membership of AUKUS, the anti-China military agreement between Australia, the United Kingdom, and the United States.
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Global diffusion of production and the concept of imperialism
THERE has been a significant diffusion of production occurring in the world economy. Many call this phenomenon a shift from a U.S.-led world economy to a “multipolar world economy”, but no matter what one thinks of this description, the fact of diffusion is indubitable.
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We’ve seen this “antisemitism crisis on the Left” script before
It sure is a crazy coincidence how western politicians and media always start urgently telling us about an invisible epidemic of left wing antisemitism every time western military ties to Israel are subjected to widespread public scrutiny.