Richard Wolff & Michael Hudson: The 'Economic D-Day' That Wasn't: Iran's Strategy Backfired on US
Summary
Richard Wolff and Michael Hudson analyze the US "Operation Economic Outcast" against Iran, arguing that sanctions and military threats are symbolic posturing that fail to achieve political goals. They discuss the rise of China's CIPS payment system as a viable alternative to SWIFT, noting that US threats to isolate non-compliant countries from the dollar are empty. The episode also covers the geopolitical shift away from US dominance, the potential for global retaliation against US trade practices, and the historical parallels to the fall of the Roman Empire.
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