La Marx International

The Global Sumud Flotilla, scheduled to depart from Barcelona on April 12, 2026, bound for Gaza with vessels from various countries, is a movement spearheaded by officials from capitalist governments and imperialist institutions like the UN. They advocate for a “two-state solution” for Palestine , recognize and defend Israel’s right to exist, and champion a “pacifist” policy , opposed to the struggle of Palestinian and Middle Eastern militias. This is the second flotilla, following the first one that took place a few months ago in mid-2025, and featured the renowned climate activist Greta Thunberg as its public face. This undertaking does not mobilize its forces and vast resources to fight for the liberation of Palestine from occupation, but rather has a “humanitarian” objective, focused on providing aid. As they themselves acknowledge on their website, which you can read here , the flotilla’s objective is to deliver supplies, food, and medicine to “alleviate” the situation of the oppressed Palestinians, not to end oppression, but to try to make it more sustainable and bearable.

In this article, we Marxists explain why we reject this policy, which we characterize as pro-imperialist and serving the interests of Zionism, even though the flotilla’s leaders loudly proclaim their opposition to Zionism. Disguised as “struggle” and ” protest,” it is a policy that educates and promotes the acceptance of subjugation, turning its back on the armed struggle that the Palestinian people and the peoples of the Middle East have been waging against Zionism and imperialism, as illustrated by the recent events in the Iran-Iraq War. At the end of the article, we dedicate a brief section to analyzing the shameful position of the social-democratic, Stalinist, ex-guerrilla, and ex-Trotskyist left-wing groups that comprise and promote the “flotilla ,” whose policy is part of the political course of class collaboration with the bourgeoisie that they have been pursuing in countries around the world.

Bourgeois and imperialist enterprise clashes with civil war

The flotilla is not an “independent” undertaking by ” activists,” as its organizers claim. While some activists are involved, it is an action driven by officials from imperialist organizations such as the UN Special Rapporteur on the situation of the Palestinians, Francesca Albanese, and the former UN High Commissioner for Human Rights, Navi Pillay, and supported by capitalist and imperialist organizations such as the World Health Organization and the UN Office for the Coordination of Humanitarian Affairs (OCHA), whose spokesperson, Jens Laerke, expressed support for the flotilla, stating that “we welcome any initiative that can provide aid… as long as it is distributed according to humanitarian principles and in a dignified manner.”

While food and medical aid are necessary, all the aid in the world cannot solve the Palestinian tragedy, which can only be truly resolved through the destruction of the Nazi state of Israel. As long as Palestinians remain under threat from the Zionist beast, medicine and food are merely palliative measures that do not solve any problems; on the contrary, they exacerbate them by increasing the population’s dependence on bourgeois and imperialist assistance for their survival. But the hypocritical ” two-state” policy of the imperialist institutions that claim to provide humanitarian aid clashes with the existence of the Nazi state of Israel, created by the UN itself, since Israel blocks all access to that humanitarian aid.

The occupying beast of Palestine desperately seeks to crush the 3rd Intifada by defeating the armed resistance of the joint chamber of Palestinian militias made up of the Al-Qassam Brigades that answer to Hamas, the Al-Quds Brigades of Islamic Jihad, the Al-Nasse Salah Brigades of the Popular Resistance Committees, the Al-Aqsa Martyrs Brigades that answer to Fatah, the Ali Mustafa Brigades of the Popular Front for the Liberation of Palestine , the Brigades of the Democratic Front for the Liberation of Palestine, and the Brigades of the Palestinian Mujahideen Movement. Since the UN is unable to deliver humanitarian aid amidst the revolutionary war of the peoples of the Middle East, officials are attempting to pass off their welfare and pacifist policy of coexistence with the Zionist beast as a legitimate solution through “flotillas ,” which clashes with the reality of the people’s revolutionary civil war. The UN is trying to impose a “pacifist” policy that is neither serious nor applicable to the group of genocidal figures who govern Israel.

The flotilla seeks to divert the global shift towards “bourgeois pacifism”

The Third Intifada of the Palestinian militias defeated the Israeli Defense Forces’ (IDF) attempt to seize control of Gaza through urban guerrilla warfare, inflicting 80,000 casualties on the IDF, including dead and wounded. This military drubbing was accompanied by a global mass mobilization in support of Palestine, plunging the Nazi state of Israel into global isolation and an unprecedented political, social, and economic crisis. This victory imposed a ceasefire in Gaza last October, but the Zionist beast is attempting to extricate itself from the crisis by rallying its population around the war with Iran or the aggression against Lebanon to resolve the serious problem of the million internally displaced people from northern Israeli cities who are sleeping in hotels. However, Netanyahu and Donald Trump have unleashed a new chapter of revolutionary war, in which they have suffered yet another defeat, resulting in severe destruction of Israeli cities and exacerbating the global crisis of capitalism, as you can read by clicking here.

The global mobilization of the 3rd Intifada, like the current war in Iran, is the epicenter of the 3rd global revolutionary wave sweeping the world with mass mobilizations against capitalist governments in Greece, Serbia, Turkey, South Korea, Georgia, Indonesia, Bangladesh, Sri Lanka, France, Venezuela, and Cuba. This wave also incorporated the emergence of Generation Z in Nepal, Morocco, Peru, and Paraguay, along with the battles of the Ukrainian National Liberation Army against Putin’s dictatorship, the “No Kings” movement , the mass uprising against immigration police in Minnesota in the USA, and general strikes in Italy, Portugal, and Belgium in Europe. The revolutionary wave is marked by political revolution, the radicalization of sectors of global activism, and the break of the masses with the old social-democratic, Stalinist, ex-guerrilla, and bourgeois nationalist leaderships. This led to the 3rd Intifada, where activism advanced through self-organization processes with mass actions outside the control of the old leaderships, and launched increasingly radicalized slogans such as “Death to the IDF” or “Free Palestine from the river to the sea.”

But while the reality of the class struggle is heading towards a violent confrontation between revolution and counter-revolution that strikes at the pillars of imperialist domination, such as Israel, the policy of the “flotilla” is heading in the opposite direction. It is heading towards “pacifism ,” the “rejection of armed struggle ,” paternalism, and “humanitarian” aid. The Flotilla’s Steering Committee seeks to divert the global activism mobilizing for Palestine towards a policy of “bourgeois pacifism,” and it has formed a Steering Committee of officials willing to promote this policy, as you can read by clicking here. They are officials of the Progressive International, the “international” oriented by the US State Department, who head the Steering Committee of the “flotilla” such as Thiago Ávila, deputy of the PSOL of Brazil who is part of the capitalist government of Lula, or Saif Abukeshek, general secretary of the “Popular Conference for Palestine” sponsored by sectors of the imperialist Democratic Party of the USA such as the Democratic Socialists of America (DSA), and the Stalinist group Party for Socialism and Liberation (PSL).

The Progressive International’s alignment with the Democratic Party is hypocritical on the part of the “flotilla’s” leadership , given that Joe Biden’s Democratic administration deservedly earned the moniker “Genocide Joe” for promoting genocide in Gaza in defense of Israel. Another flotilla leader is Muhammad Nadir Al-Nuri, a Special Envoy for the Middle East at the Ministry of Foreign Affairs of the capitalist government of Malaysia. Also on the flotilla’s Steering Committee is Marouan Ben Guettaia, an official at the International Executive Office of IIFSO, the global youth organization with consultative status at the imperialist UN.

The flotilla works in coordination with the Palestinian humanitarian organization Al Mezan, which is funded by imperialist entities such as the Swiss Agency for Development and Cooperation (SDC), the French Consulate, and the Ford Foundation. Outside the Steering Committee are figures who support and participate in the flotilla, such as Mandla Mandela, Nelson Mandela’s grandson and a member of parliament in the capitalist government of the African National Congress, and Ada Colau, the former mayor of Barcelona. The flotilla is also publicly supported by European capitalist and imperialist governments of opposing ideologies, such as the neoliberal government of Giorgia Meloni in Italy and the ” progressive” Spanish government of Pedro Sánchez, which sent frigates to support the first flotilla. Furthermore, the foreign ministers of 16 countries issued a joint statement declaring their support for the Globel Sumud Flotilla’s objectives.

It is these officials from capitalist and imperialist governments, imperialist global institutions, and NGOs funded by sectors of imperialism who are spearheading this costly and complex undertaking of launching 100 ships in the Mediterranean, all in an attempt to derail the revolutionary upsurge and mislead a significant sector of global activism toward “bourgeois pacifism.” To carry out this treacherous policy of deception, they rely on the invaluable support of leftist groups that follow the line of the Progressive International.

The left shows a shameful submission to imperialist politics

The capitalist governments announcing their support for the flotilla, in addition to those already mentioned, are Turkey, Bangladesh, Colombia, Slovenia, Indonesia, Ireland, Libya, Malaysia, the Maldives, Mexico, Oman, Pakistan, and Qatar. NGOs such as Greenpeace and Open Arms have also joined the flotilla, which has the support of other NGOs like Amnesty International, Human Rights Watch, and Doctors Without Borders. These latter organizations are openly linked to and funded by global imperialist corporations on Wall Street, such as Bank of America and BlackRock, which are managed by businessmen like Larry Fink and George Soros. However, it is not so easy to deceive thousands of activists worldwide with this humanitarian policy.

The first flotilla was marred by a crisis involving activist Greta Thunberg, the leading figure who brought international visibility and impact to the initiative. Thunberg resigned from the flotilla ‘s board of directors due to disagreements, and it’s unclear whether she will participate in the second flotilla based on available reports. However, the Progressive International (PI), led by US Democratic Senator Bernie Sanders and Yanis Varoufakis of Syriza in Greece, is taking the lead in this second flotilla. IP’s political focus is “the fight against the right” and it brings together reformists from around the world, led by the DSA (Democratic Socialists of America), a US social democratic organization within the imperialist Democratic Party. This includes figures such as Jean-Luc Mélenchon of France and his organization “La France Insoumise,” Jeremy Corbyn of Great Britain , Gustavo Petro (current president of Colombia), Lula and the PT, as well as Guilherme Boulos of the PSOL in Brazil; Podemos, SUMAR, PSC , ERC , Comuns , and the CUP of Barcelona and Spain; former president of the capitalist government of Chile , Gabriel Boric; former president of Ecuador, Rafael Correa; Álvaro García Linera of the MAS in Bolivia; and other officials from capitalist governments.

IP also includes intellectuals and personalities such as Noam Chomsky from the United States, Tony Negri from Italy, Silvia Federici from Italy, Baltasar Garzón, a judge from Spain, Naomi Klein from Canada, Slavoj Žižek from Slovenia, progressive think tanks like CLACSO (Latin American Council of Social Sciences), and the publication DSA, Jacobin Magazine, as well as various professors and pundits who pose as scholars but are outright enemies of Marxism. IP attempts to occupy the role that the Second International played in history as the central organizing force of global reformism, which proposes fighting for a “Humanized Capitalism” as a solution to the serious crisis facing global capitalism. As part of this policy, IP seeks to divert, contain, and channel the revolutions and uprisings developing around the world against capitalism, and lead them down the dead end of bourgeois democracy, based on which IP promotes the “flotilla” to Palestine.

To this whole horde of officials who are enemies of Marxism and the revolution, composed of social democrats, reformists, Stalinists and ex-guerrillas, have been added the ex-Trotskyists, among them the LIT-CI, which answers to the PSTU of Brazil, the LIS, which answers to the MST of Argentina, the Workers’ Party of Argentina, Izquierda Diario, which answers to the PTS of Argentina and the UIT, which answers to the Socialist Left of Argentina, all organizations that collaborate with the “flotilla” by placing militants and resources in it. Although they are smaller groups that have adopted the electoral reformist path, their strategy is the development of welfare NGOs, recovered factories, and they have a deep dependence on income from the bourgeois state, as in the case of the LIT due to the bureaucratization of its leaders at the head of unions. It is necessary to mention them because they lie, seeking to confuse unsuspecting activists by passing themselves off as “Trotskyists,” when in reality they broke with Marxism and Trotskyism a long time ago.

These groups have been pursuing a policy of class conciliation within the Marxist International, as exemplified by the FITU in Argentina, which has come out in support of the corrupt former capitalist president Cristina Kirchner. We Marxists do not support the Global Sumud flotilla, nor any of these imperialist ventures. The policy of the Marxist International is global mobilization for Palestine, support for the Third Intifada, and the armed struggle of Palestinian and Middle Eastern militias against Zionism and imperialism. At the same time, we support the relentless struggle of the Iranian people and Middle Eastern activism against all fundamentalist Islamic leaderships and the Ayatollah dictatorship in Iran. We denounce “bourgeois pacifism” and call for the construction of a revolutionary organization to sweep away Zionism and imperialism, uniting activists and honest, militant Marxists around orthodox Trotskyism—a project to which we invite you to join. 

SOURCE:

THE MARX INTERNATIONAL

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La Marx International

The military operation launched jointly by the United States and the Israeli army (IDF) against Iran on February 28, 2026, has become a revolutionary war. As the aggression drags on, despite imperialism’s prediction that it would end in a matter of days, it has transformed into a battle between the counter-revolutionary front of the leader of global imperialism, the US, and its enforcer Israel against the nations, peoples, and militias of the Middle East. Now, more than a month after the attack, Operation “Epic Fury” can be considered a failure, and the US and Israel are suffering a defeat.

Iran has responded with missile and drone attacks across the Persian Gulf region, striking targets in Israel, Bahrain, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. The Strait of Hormuz, through which a fifth of the world’s oil flows, is closed, driving oil prices to $120 a barrel. Donald Trump and Netanyahu believed the military intervention would be a walk in the park and that a few days would be enough to win. But as the days passed, they realized their actions resembled those of a “mad firefighter “ trying to extinguish a blaze with gasoline, because they had ignited an even larger fire in the Middle East and the world.

As a result of the Pentagon’s operation colliding with the revolutionary upsurge engulfing the region, the U.S. military has suffered over 300 officially recognized casualties, though the number may be higher, along with a similar number for the Israel Defense Forces (IDF). The U.S. is experiencing attacks on all its assets in the Middle East, and the fighting is spreading to Lebanon, where the IDF is battling Hezbollah’s guerrilla warfare, which is causing heavy losses in equipment and personnel for Israel. It is also spreading to Yemen, where Houthi militias have begun attacking Israel, and to Iraq, where militias such as the Islamic Resistance in Iraq, Jaysh al-Ghadab, and Saraya Awliya al-Dam have already carried out 41 drone and rocket attacks against imperialist bases in Iraq and Bahrain.

In Syria, the US military bases in Qasrak have been attacked. Rarely in history have we seen the military bases, embassies, and financial assets of imperialism under simultaneous attack across the Middle East region as we are witnessing today. The destruction suffered by the people of Iran is immense; the total number of soldiers and civilians killed exceeds 3,000 as a result of imperialism’s bombing of towns and cities, seeking to weaken the country’s two military branches. Iran has its regular army, the Artsesh, the largest military force with approximately 350,000 to 400,000 personnel. On the other hand, the Islamic Revolutionary Guard Corps (IRGC) or Pasdaran, which has a total of 190,000 to 200,000 personnel, is made up of the oligarchy and bourgeoisie who own the main branches of production, commerce and industry in the country, and is the heart of the theocratic regime, in addition to controlling the Quds Force, which carries out operations abroad and military intelligence with between 7,000 and 10,000 members.

In turn, as the revolutionary war drags on and expands, it exacerbates the economic, political, and social crisis of global imperialist capitalism. We Marxists stand for the victory of Iran and the peoples of the Middle East, for the military defeat of imperialism and Israel, and for the overthrow of the Ayatollah dictatorship in Iran. We stand with the Iranian people, who have been fighting through several recurring February Revolutions against theocratic capitalist governments and petro-monarchies that collaborate with imperialist aggression. We have no doubt that the mobilization and efforts of the people against imperialist aggression will strengthen the entire revolutionary process in the region and facilitate the struggle to overthrow these capitalist dictatorships.

The revolutionary war divides the world counter-revolutionary front

The revolutionary war has provoked a crisis on the global counter-revolutionary front. Donald Trump called on other imperialist countries to support action against Iran, but imperialist countries such as Germany, Japan, Canada, France, and England have refused to join the attack. Even governments like Meloni’s in Italy and Sánchez’s in Spain have refused to offer their bases for the attacks. The start of the attacks without authorization from the United Nations Security Council has provoked a crisis within NATO and the UN, reflecting the fracturing of the imperialist front.

The imperialist political crisis buries the “Decoupling Theory,” which posits that the world is heading toward a Third World War between the US and China—a theory adopted by 99% of the global left that is completely false. If it were true, China and Russia would have already joined Iran, which would accelerate the defeat of the US and Israel, but Putin and Xi Jinping haven’t lifted a finger to defend Iran and are allowing imperialist aggression to continue. This is because their ruling classes enjoy the privilege of being capitalist oligarchies that govern sub-metropolises highly dependent on imperialist capital and utterly incapable of confronting it. What we are witnessing, far from being a path toward a Third World War, is the path we have been seeing for the last 20 years: the war between revolution and counter-revolution.

Alongside the political crisis of the counterrevolutionary front, the crisis of the government of the head of global imperialism, Donald Trump, is unfolding. Following his defeat at the hands of the American people’s mobilization that thwarted the ICE intervention in Minnesota, Trump is being cornered by massive mobilizations of the American people against his administration under the “No Kings” movement, coupled with a wave of workers’ strikes and the prospect of a crushing electoral defeat in a few months’ time when the midterm elections take place . Trump launched the attack without a declaration of war from the United States Congress, cornered by soaring inflation, the wave of strikes by the American working class, the collapse in popular support for his government, and the worsening global crisis of capitalism.

Trump launched a desperate attack against Iran in an attempt to reverse the inevitable collapse and failure of his policies. But the attack on Iran is not solely due to the crisis of Trump’s imperialist administration, but also to the crisis in Israel, evidenced by the recent statements of former Prime Minister Yair Lapid, who echoed the warnings of Eyal Zamir, Chief of Staff of the Israeli army, stating that: “The Israeli army is on the verge of internal collapse.” Zamir refused to invade Gaza, arguing that the Israeli army could not withstand such a military adventure, and made this statement public to the media, which he had made at a meeting of the Israeli security cabinet, as you can read by clicking here.

Millions of Israelis are leaving Israel. Israeli authorities have announced that employees of state-owned companies will not return to their jobs. There is a mass exodus of settlers and citizens. The famous ” Iron Shield” is failing. Bombs are falling on Tel Aviv, and several cities and neighborhoods are beginning to resemble Gaza. The population descends into underground shelters five times a day to escape the bombings and practically lives in them. There are a million internally displaced people from the cities of northern Israel. The economy is bankrupt. Israeli bonds are considered junk bonds, and investments have been withdrawn. With each passing day, Israel becomes more of a decaying state, and the slogan “Destruction of the State of Israel” is ceasing to be mere propaganda and becoming a reality. Trump is bombing Iran to “rescue” Israel, seeking to unite the population because he knows that the majority of Israelis hate Iran, but the move is proving disastrous, and instead of saving Israel, the revolutionary war is sinking it even further. Alongside the Israeli crisis, the global political crisis of imperialism is worsening.

Revolutionary war exacerbates the global crisis of capitalism

Israel has reached this situation as a result of the brutal blow it received from the Third Palestinian Intifada. The global left has denied the existence of the Third Intifada, but the facts are undeniable: Israel suffered over 80,000 IDF casualties due to the urban guerrilla warfare waged by Palestinian militias in Gaza, and Israel’s attempt to seize Gaza failed so drastically that Donald Trump had to impose a ceasefire agreement to save Israel. But now, the revolutionary war is not only exacerbating Israel’s crisis, but in its form and content is beginning to resemble the Third Palestinian Intifada.

Before the revolutionary war began, capitalism was already facing a severe situation of six combined crises, a veritable “perfect storm” emerging from its collapse, as you can read by clicking here. But the revolutionary war is exacerbating all these crisis trends, leading to stagflation, corporate bankruptcies, the collapse of cryptocurrencies, and the crises in China and Japan. In the more than a month since the revolutionary war began, stock markets around the world have plummeted, with Wall Street losing over $4.5 trillion. Economic authorities have had to implement capital controls on private lending institutions that manage trillions of dollars as “shadow banking,” belonging to the large global capitalist corporations that dominate the global economy.

Meanwhile, the Pentagon’s military spending is skyrocketing, as it has established a war based on missile strikes. Donald Trump threatens a ground invasion, but the reality is that imperialism has been unable to invade anything for over 20 years due to the defeat it suffered in the invasion of Iraq, which left the Pentagon in complete crisis. Iran responds to the bombing using cheap drones, the same tactic Ukraine uses against Putin, while the sophisticated systems of the United States and Israel are immensely expensive, considering that deploying a Patriot missile costs $5 million, which implies a daily cost of $2 billion for US imperialism. Defense Minister Hegseth submitted a request to Congress to spend $200 billion, to which must be added the costs for Israel.

At the same time, oil and gas prices rose dramatically, pushing the global economy toward a worldwide recession, according to The Economist in March. The blockade of the Strait of Hormuz, only 38 kilometers wide at its narrowest point, has driven insurance costs for tankers stranded in the Gulf to over $300 billion, resulting in 15 million barrels of crude oil per day—equivalent to 15% of global production—and 4 million barrels of refined products per day being unavailable for global trade.

The other route they could use to transport the oil is the Red Sea, but it has fallen under the control of the Houthi militias. The consequences of an oil shortage affect not only the energy sector, but also artificial fertilizers, food production, metal processing, semiconductor manufacturing, and the transportation industry. The longer these supply problems persist, the more certain it is that global supply chains will also be disrupted. In other words, revolutionary warfare exacerbates and intensifies the global crisis of capitalism and imperialism.

For the victory of Iran and the peoples of the Middle East! Down with the Ayatollahs! Weapons for the militias!

Ninety-nine percent of the world’s left has a pacifist policy for revolutionary war. Their slogans are: “Stop the aggression,” “For Peace,” “Stop the attacks” —a policy that sounds like it belongs to the UN and imperialist officials. In the midst of revolutionary war, the slogan “Peace” is only revolutionary in the US and Israel, the aggressor countries, because it goes against their governments. But in the rest of the world, any slogan of “Ceasefire” is reactionary insofar as imperialism is constantly attacking the peoples of the Middle East. Therefore, it is up to Marxists to take up arms and advocate for the victory of Iran and the peoples of the Middle East. Our slogans are: “For the military defeat of imperialism and Israel,” “Weapons for the militias of the Middle East!” And at the same time, we support the overthrow of the Ayatollah dictatorship in Iran, since the fight against imperialism strengthens the fight against all capitalist governments and oligarchies in the Middle East.

We stand with the Iranian people who are fighting against the capitalist theocratic government of the Ayatollahs. “Freedom of assembly and mobilization for the people of Iran!” “Full rights to arms and mobilization for the people!” We know that the mobilization and efforts of the people against imperialist aggression will strengthen the entire revolutionary process in the region and facilitate the struggle to overthrow these capitalist dictatorships. We invite you to join this campaign of the Marx International for the triumph of the revolutionary war on the path to global socialism.

THE MAEX INTERNATIONAL

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The Marx International

Protests against the dictatorship in Havana

There are two policies, and only two, within the global left regarding Cuba and Venezuela: On the one hand, the policy of the Progressive International and 99% of the global left, which supports the Castro-Chavista capitalist dictatorships of Cuba and Venezuela. The dictatorships of the Communist Party of Cuba (PCC) and the United Socialist Party of Venezuela (PSUV) are forging agreements with global imperialism, and therefore, supporting these dictatorships implies endorsing the agreements they are making with Donald Trump. This policy is exemplified by the flotilla of support for Cuba organized by capitalist governments and sectors of imperialism linked to the UN. We reject this shameful flotilla of support for capitalist dictatorships and their agreements with imperialism, and we denounce it as a policy of class collaboration that serves the interests of imperialism.

Millions believe that Cuba and Venezuela are socialist countries, but that belief is no longer supported by any factual basis. Cuba is a capitalist country, and if there are still honest activists or leaders who believe that Cuba is a socialist country, it is the product of a deception perpetrated by the oligarchs who run the current regime that governs Cuba and calls itself “socialist,” coupled with the propaganda of the lying capitalist governments of the world that also claim that Cuba is a “socialist” country. Thirdly, the leaders of 99% of the global left who perpetuate the exact same lie, along with the capitalist governments that say Cuba is “socialist” to discredit socialism by highlighting the horrific situation in which the Cuban people live, contribute to this deception.

The only alternative policy to the pro-imperialist policies of the Progressive International is that of the Marxist International. Our policy is to support the people of Cuba and Venezuela in their struggle against the dictatorships of the millionaire oligarchs of the PCC and the PSUV, and to call for the violent overthrow of these dictatorships, hated and repudiated by 90% of the population. Cuba and Venezuela are examples of cruel and brutal capitalist inequality because while their people are sinking into a sea of ​​poverty and misery, the Chavista and Castroist oligarchs are getting richer every day. That is why these people have been fighting against these dictatorships for years, which has left a trail of thousands of political prisoners in both countries. Down with the dictatorships of Cuba and Venezuela! No to the agreements between these dictatorships and Donald Trump! For a workers’ and people’s government that frees political prisoners, restores freedoms, and expropriates the “communist ” oligarchies—who are anything but communist—to put that wealth in the hands of the people.

The “Our America” ​​Flotilla is against the people of Cuba and Venezuela

We denounce the “Our America” ​​flotilla in support of Cuba, launched by the Progressive International (PI), and all those who board, support, or promote this flotilla as accomplices of the dictatorships and their crimes. This flotilla is not at the service of the people but of the Castro and Chavista oligarchs. The Progressive International (PI) lies about what is happening in both countries: They say that Cuba is collapsing and without electricity due to the US blockade and Donald Trump’s ban on oil sales to Cuba, which is false. It is true that Trump’s measure in decreeing the ban on oil sales to Cuba constitutes an act of aggression, but a collapse of the magnitude that Cuba is suffering is not the result of a Trump measure. One billion dollars is enough to solve Cuba’s energy problem, and the Castro oligarchy has siphoned out of the country the equivalent of 18 times that sum that the people need to have electricity.

The PCC nomenklatura has siphoned off $18 billion in Panamanian tax havens, while the capital flight by Chavista oligarchs is estimated at over $500 billion—a reality that hits Cuba and Venezuela as hard as imperialist blockades. The damage suffered by both countries’ economies is a result of both dictatorships imposing a capitalist model to squeeze every last drop of wealth from their nations and line their own pockets. This is undeniably demonstrated by the fact that while the people of both countries suffer appalling conditions of hunger and poverty, the PCC and PSUV rulers are millionaire oligarchs who have become obscenely wealthy through all sorts of deals with North American and European imperialism.

The oligarchs of the PCC and the PSUV have carried out the privatization of the economy and capital flight, in collusion with capitalists worldwide. Cuba has received millions in investments from European imperialism for decades, and the country’s main production sectors are privatized and controlled by the holding company GAESA (Grupo de Administración Empresarial Sociedad Anónima), which is controlled by the country’s armed forces, as you can read by clicking here. In Venezuela, the PSUV oligarchy is wealthy thanks to deals with Chevron and US imperialism. The Progressive International and 99% of the global left conceal the existence of GAESA, the business dealings of the PSUV oligarchy, and the agreements between imperialism and the PCC and the PSUV.

Why are IP and 99% of the global left silent about GAESA? Why are they silent about the agreements the PCCC and PSUV have made with imperialism? Why do they refuse to call for a fight against dictatorships? Why do they lie, trying to make global activists believe that these PCCC and PSUV governments are independent of imperialism, or that they are confronting imperialism? The policy of IP and 99% of the global left on Cuba and Venezuela is a defensive one, an expression of the global crisis of the left, the product of a tsunami unfolding globally and now reaching Latin America, with global and strategic consequences that directly impact the future of the left.

The Political Revolution: The Berlin Wall Falls in Latin America

The collapse of the dictatorships in Cuba and Venezuela signifies the end of Castro-Chavismo and Stalinism, the fall of the “Berlin Wall” in Latin America. It marks the end of the political currents that have dominated the Latin American left for decades, and is the expression of a global crisis affecting all the old leaderships that historically guided mass movements worldwide: social democracy, classical Stalinism and its Maoist, Castroist, and Guevarist variants, bourgeois nationalist movements, former guerrillas, etc.—all leaderships that were once attractive to millions of activists around the world, but are now sinking into a profound crisis resulting from the rejection and repudiation they face for their defense of capitalism.

This process of “political revolution” has reached Latin America and is liquidating the old leaderships like Castroism and Chavismo. In turn, the fall of Chavismo and Castroism triggers a chain reaction of all reformist, social-democratic, Stalinist, and petty-bourgeois groups, who fear disappearing. This forces IP, in desperation, to launch its campaign in support of the dictatorships of Cuba and Venezuela, seeking to halt the crisis of Castro-Chavismo. IP seeks to stop a process that is very progressive for the mass movement and the struggle for revolution, but which, for social democrats and Stalinists, is quite the opposite because it means the end of their privileges as officials, members of parliament, or ministers who collaborate with capitalism and pursue a policy of support for “progressive” capitalism.

Indeed, halting this process of political revolution is the central objective of the founding of the Progressive International (PI) in May 2020, an international organization led by Democratic Senator Bernie Sanders and Yanis Varoufakis, leader of Syriza in Greece. The PI is an organization guided by the U.S. State Department, serving to promote the tendency for left-wing organizations to adopt the policy of calling for a ” progressive common front , ” “unity,” and a “united front” with progressive bourgeois coalitions in various instances of class struggle. If you want to read more about the PI, click here.

Major Wall Street corporations like George Soros’s allocate capital to the financing of political campaigns and “progressive” organizations , while a strong NGO-ization process has developed in left-wing organizations worldwide, a process that seeks to strengthen the social-democratic and reformist tendencies of the global left, leading them to prioritize electoral intervention in bourgeois democracy, a multi-million dollar financing business based on the diversion of funds from the bourgeois state.

The entire process results in the development of policies linked to the laws inherent in the development of the bourgeois democratic regime, such as “critical voting” in elections, support for “progressive” laws of bourgeois parties, the formation of parliamentary political blocs with progressive bourgeois forces, entry into these coalitions, and the placement of officials, ministers, and advisors in their governments. However, the arrival of “political revolution” in Latin America deals a formidable blow to the political, social, and labor leaderships linked to Chavismo and Stalinism, jeopardizing the project and future of the reformists, which is now mortgaged.

The oligarchies of Cuba and Venezuela are negotiating with Trump

The U.S. State Department announced $6 million in humanitarian assistance for Cuba, distributed through Caritas, a network of Catholic charitable organizations, and the Catholic Church, as announced by Jeremy Lewin, the senior State Department official in charge of foreign assistance. The energy crisis is at the heart of the crisis in Cuba, with prolonged blackouts affecting homes, hospitals , businesses, and public transportation. These blackouts are having a domino effect on the population because without electricity, food refrigeration is reduced, water pumping is interrupted, productive activities are halted, and essential services are limited.

The fuel shortage is also impacting transportation, which in turn is hindering the distribution of goods and exacerbating shortages, leading to a virtual paralysis of the economy and sparking daily uprisings and protests in cities and regions across the country. Faced with the people’s struggle, the Castro oligarchy’s dictatorship has intensified its repression, holding 1,197 political prisoners and prisoners of conscience by the end of 2025— a figure that demonstrates the persistence and intensification of the PCC dictatorship’s repression.

The specter of Nepal is beginning to loom over Cuba and Venezuela. Preventing a violent popular uprising against these oligarchic dictatorships at all costs has become the priority of imperialism, which is working to extinguish all revolutionary sparks. US Secretary of State Marco Rubio has been secretly holding talks with Raúl Castro’s grandson, Raúl Guillermo Rodríguez Castro, nicknamed “Raulito” or “The Crab.”As US President Donald Trump announced aboard Air Force One, “We’re talking to Cuba right now, and Marco Rubio is talking to Cuba right now, and they should definitely come to an agreement, because they’re experiencing a humanitarian crisis , ” as you can read by clicking here.

The beginning of negotiations between Castroism and imperialism seeks to avoid the violent fall of the dictatorship at the hands of the people, as happened in Nepal where the mass uprising crushed the Communist Party dictatorship. Similarly, negotiations took place in Venezuela, and the agreement reached between the Chavista oligarchs and their government, headed by Delcy and Jorge Rodríguez, with imperialism involved the arrest and extradition of Maduro in exchange for a transition process toward a more stable bourgeois democratic regime. This would allow sectors of the Chavista oligarchy to reinvent themselves as bourgeois parties. The plan included imperialism shifting from a policy of support for María Corina Machado to a transition based on Vice President Delcy Rodríguez and an agreement with Diosdado Cabello.

If you want to read more about Chavismo’s agreements with imperialism, click here . Imperialism is pushing for a transition in Cuba and Venezuela while being careful not to destroy the Armed Forces, which are the pillar of the bourgeois state. That’s why the agreements with Diosdado Cabello, who controls sectors of the Venezuelan army, and with Raúl Castro, who, represented by his grandson “Raulito the Crab,” seeks to preserve the structure of the Cuban Armed Forces and, thus, the Cuban bourgeois state, are so important. These are preventative measures aimed at avoiding a revolution in the Caribbean that would erupt right in front of the US and coincide with the revolutionary upsurge of the American masses who have given Trump a resounding defeat with massive mobilizations that forced him to withdraw ICE troops from Minnesota.

Two corrupt oligarchies, which carry out all kinds of crimes and illicit maneuvers

Castro-Chavismo is not a socialist, Marxist, or revolutionary movement that opposes capitalism. On the contrary, it is an agreement between two deeply corrupt, millionaire oligarchies, a gang of criminals who have perpetrated all kinds of crimes against the people to perpetuate their hold on power. The Cuban oligarchy, led by spokespeople like Alejandro Castro Espín, son of Raúl Castro, and “Crab” Rodríguez Castro, grandson of Raúl Castro, has forged a long-standing business relationship with the Panamanian businessman Ramón Carretero Napolitano. This same businessman enabled the Venezuelan oligarchy to conduct lucrative business in the oil sector and secure all kinds of contracts through Carretero’s company, the Caribbean Logistics Corporation, which obtained multimillion-dollar contracts from the Venezuelan government.

Ramón Carretero Napolitano laundered money for the Cuban and Venezuelan oligarchy through accounts in the tax haven of Panama, which solidified Rodríguez Castro’s position as a frequent passenger on Carretero’s private planes bound for Panama, where GAESA’s largest umbrella company, CIMEX, is registered. Dozens of Rodríguez Castro’s flights to Panama were recorded, and at least once, in May 2024, he traveled with Brigadier General Ania Guillermina Lastres Morera of the Cuban army, the current president of GAESA and a member of the Central Committee of the Communist Party of Cuba.

Carretero, in turn, consolidated his position as a major contractor for the Nicolás Maduro regime through companies like Landscape Vision Corp (Lanvicorp) and Corporación Logística del Caribe. These companies amassed nearly $800 million in public contracts for civil works projects, awarded between 2013 and 2015 by the Pro-Patria 2000 Foundation, then headed by Carlos Erick Malpica Flores and Walter Jacob Gavidia Flores, nephew and son, respectively, of Cilia Flores, the Venezuelan first lady, or ” first combatant” in the official jargon of the Chavista oligarchy. This is how the Chavista oligarchy became millionaires, carrying out capital flight to Panama in partnership with oligarchs from the Communist Party of Cuba.

In this scheme, the Panamanian businessman transferred millions of dollars to Juan Carlos López Tovar, the partner of Iriamni Malpica Flores, Cilia Flores’s niece. Meanwhile, the private plane trips of the Castro-Chavista oligarchs on Carretero Napolitano’s aircraft followed the Caracas-Havana-Panama triangle, which allowed the Cuban dictatorship’s nomenklatura and the Chavista oligarchs to establish lucrative business relationships. These relationships were so close that an employee of Carretero Napolitano, Edwin Abel Pitty Madrid, was appointed Panama’s ambassador to Cuba, at the suggestion of Panamanian President José Raúl Mulino. And while the Castro-Chavista oligarchies were becoming millionaires by siphoning off massive amounts of capital to Panamanian accounts, the workers, young people, and peasants of Venezuela and Cuba were sinking into poverty, misery, and abject despair, with meager wages that didn’t even reach 10 or 20 dollars.

These same millionaire, corrupt, and criminal Castro-Chavista oligarchs imposed their will with an iron fist, arresting opponents, repressing dissenting voices, and imprisoning those who opposed their plans, thus filling the prisons of Cuba and Venezuela with thousands of political prisoners. And it is this corrupt and criminal oligarchy that the Progressive International Flotilla and 99% of the world’s left-wing groups come out to support, lying about what is really happening, calling for “solidarity with Cuba ,” which is in reality solidarity with the criminal Castro-Chavista oligarchs—a shameful policy of support for these sinister dictatorships that have been enriching themselves for years with the complicity of bankers and capitalist investment funds from around the world.

Social Democrats, Stalinists and ex-Trotskyists united in the Progressive International (PI)

Woe to those naive Cubans and Venezuelans who believed the lies of Donald Trump and his circle of representatives like Milei of Argentina or Viktor Orbán of Hungary—true, disgraceful clowns. They promised the Cubans and Venezuelans that they would oust the Castro-Chavistas from power and bring them to justice and punish them. And now, the people of Cuba and Venezuela are beginning to see how Trump and Marco Rubio are making deals with the Castro-Chavistas, how they are turning their backs on honest activists and making deals with Delcy and Diosdado, how, far from judging and punishing the Castro regime, they are meeting and making deals with “El Cangrejo” (the Crab). Oh, our dear Cuban and Venezuelan brothers and sisters who believed they were confronting the “communists” or “Marxists” !

We’re not talking about the Miami vultures who know perfectly well what’s going on; we’re talking about the honest activists, workers, and people of Cuba and Venezuela who believed that US imperialism would come to their rescue. And now they see the reality: It was never about a “fight against communists.” The Castro-Chavistas were never communists or socialists; they always defended capitalism, and now they’re joining forces with Trump more than ever because they share the common interest of the unrestricted defense of capitalism and their businesses.

Dear honest Cuban and Venezuelan activists: You never lived under a communist or socialist dictatorship; you always lived under a capitalist dictatorship. That is why we repudiate the leaders and groups of the global left who, along with the Progressive International, are carrying out the scandal of supporting these criminal capitalist oligarchies. They have already announced that this flotilla, “Our America,” will set sail with food, medicine, and urgent basic supplies, as explained by its organizers: Thiago Ávila, leader of the Progressive International and the PSOL of Brazil, and Clémence Guetté, Vice President of the French National Assembly. or the former leader of the British Labour Party Jeremy Corbyn and the English congresswoman, Zarah Sultana, who head the ” Your Party” party in England supported by all the groups of English Trotskyism such as the English SWP, the “communists” of Alan Woods, who always collaborated publicly with the Chavista oligarchy, and other minor groups such as the RCIT, or Mandelism.

Also among the promoters of this shameful pro-imperialist expedition are the US DSA with the participation of Democratic Congresswoman Rashida Tlaib, supported by Jacobin Magazine, the mouthpiece of the Progressive International, Stalinist groups, such as officials in the governments of Petro in Colombia, Boric in Chile, or Lula in Brazil, as well as the bourgeois nationalists leading Morena in Mexico, or Grabois from Peronism in Argentina, as well as all kinds of groups that carry out a treacherous policy such as Izquierda Diario in Argentina.

There are two, and only two, policies for the global left. On one side are those who, with the Flotilla to Cuba, the Progressive International, and its satellite groups, will continue to earn their place in the annals of history’s traitors as mere lackeys of imperialism and corrupt capitalist oligarchies like the Castro-Chavista dictatorships. The crew of the Flotilla for Cuba are united not only by their defense of the oligarchs of Cuba or Venezuela, but also by their fear of the political revolution that has begun to sweep them away and threatens to sink them definitively.

On the other hand, we at Marx International reject the “flotillas” sent to support capitalist oligarch dictators and are moving forward to unite in the revolutionary project of Marxism, to kick the Castro-Chavistas out of Latin America and take their place. These are two policies of the global left for Cuba and Venezuela. We invite you to join the Marxist policy, sweeping away these traitors so we can advance in imposing socialism in the Americas and the world. 

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On February 28, 2026, the United States, in conjunction with the Israeli army (IDF), launched a massive bombing campaign against Iran. This occurred amidst ongoing negotiations between the imperialist government of Donald Trump and the Iranian Ayatollahs’ Islamic oligarchy in Geneva, Switzerland, sponsored by Omani Foreign Minister Badr al-Busaidi. In these negotiations, Trump sought to impose an agreement similar to the one he imposed on Venezuela, that is, to allow the Ayatollahs’ capitalist dictatorship to implement political reforms in exchange for an agreement favorable to the political interests of imperialism in the region.

The attack has triggered a global stock market crash, a surge in oil and gas prices exacerbating global inflation, and a crisis in insurance companies that suspended coverage for maritime transport in the Gulf. All of this is worsening the “perfect storm” of the current global crisis of capitalism, as you can read by clicking here. The attack by the Donald Trump administration is a desperate attempt to cope with the failure and serious crisis his government is facing after its defeat at the hands of the American people, who thwarted the ICE intervention in Minnesota. Donald Trump faces the prospect of a tough electoral defeat in a few months when the midterm elections take place , which will exacerbate the crisis of his government. Cornered by soaring inflation, the wave of strikes by the American working class, the collapse in popular support for his government and the worsening of the global crisis of capitalism, Trump launches a desperate attack against Iran in order to reverse the inevitable collapse and failure of his policy.

Donald Trump is acting like a “mad firefighter” trying to put out a blaze with gasoline, in a military intervention that, as the hours pass, is far from resembling a walk in the park. The Pentagon’s operation is crashing against the revolutionary upsurge engulfing the Middle East, causing significant losses not only in Iran, but also for Israel and the US: The Pentagon has already reported several soldier deaths, multiple attacks on its military bases in the Middle East, damage to its aircraft carriers, and the loss of several fighter jets.

The reality is that the US and Israeli aggression is occurring amidst the revolutionary powder keg engulfing the Middle East, given that the Third Palestinian Intifada defeated Israel’s attempt to seize Gaza and inflicted over 80,000 casualties on the IDF. The Syrian revolution ended 70 years of the Assad regime, and the popular revolution erupted in Iran just two months ago, weakening the Ayatollah regime after the revolution that triggered the collapse of the rial, as you can read by clicking here. The US military faces the prospect of continued increases in its losses, measured by deaths, attacks on its military bases, and bombings.

Trump opens “Pandora’s box” of revolution in the Middle East

Hours before the bombing began, Omani Foreign Minister Badr al-Busaidi was in Washington, D.C., meeting with U.S. Vice President James Vance. Following the meeting, he announced that negotiations between the U.S. and Iranian governments were progressing smoothly. The imperialist plan, thus far, was to forge agreements like the one made with the government of Delcy Rodríguez in Venezuela, and which is also being negotiated with the capitalist dictatorship of Cuba—agreements you can read about by clicking here. These agreements aim to prevent revolutions like those occurring around the world, such as in Nepal, by attempting to quell the revolutionary upsurge of the masses through minor democratic concessions and regime reforms, essentially to keep the dictators in power.

But the Trump Administration is already a crisis government that fails to resolve any of the major crises facing global capitalism, and is massively rejected by the US population. This is why it acts by launching policies like a “blank slash ,” seeking a success that will pull it out of the crisis. This is why, amidst these secret arrangements made between imperialist officials and officials of the Iranian religious oligarchy, US imperialism, together with the government of war criminal Benjamin Netanyahu, launched the bombing operation “Epic Fury,” in which bombs were dropped on Tehran, Qom, Kermanshah, Isfahan, and Karaj, according to the Pentagon, targeting Iran’s nuclear facilities and its ballistic missile program.

The reality is that both Mossad and the Pentagon knew about a meeting of the highest military and religious officials of the Ayatollah dictatorship, and therefore decided to attack it in order to violently decapitate the regime. The combined imperialist force simultaneously attacked several sites, assassinating numerous high-ranking Iranian officials, including the supreme religious and military leader Ali Khamenei, the Secretary of the Iranian Defense Council, Ali Shamkhani, the Commander of the Islamic Revolutionary Guard Corps (IRGC), General Mohammad Pakpour, the Minister of Defense, Brigadier General Aziz Nasir Zadeh, the head of intelligence at Khatam ol Anbia Saleh Asadi, the Chief of the Supreme Leader’s Military Office, Mohammad Shirazi, the President of the Defense Innovation and Research Organization (SPND), Hossein Jabal Amelian, and the former president of the SPND, Reza Mozafari Nia—a total of 40 Iranian leaders.

The criminal bombing of Iranian cities, with approximately 900 combined attacks, was intended to effectively suppress Iranian air defenses and prevent a counterattack. Despite causing immense destruction, including the attack on an Iranian primary school that killed dozens of children, the imperialist attacks failed to completely cripple Iran’s military capabilities. This triggered an Iranian military counterattack, with bombs and missiles raining down on Tel Aviv and other Israeli cities, as well as on US military bases in Saudi Arabia, Bahrain, Qatar, Iraq, and other countries in the region.Iranian ballistic missiles also struck the Ali al-Salem air base in Kuwait and the Muwaffaq al-Salti air base in Jordan, while a mass uprising erupted in Arab countries, with attacks on US consulates.

The Iranian military response, coupled with the growing mass uprisings across the Middle East, has plunged Operation Epic Fury into crisis. If Trump fails to achieve results with the bombings in the coming days, the political and social crisis in the US, and indeed throughout the Middle East, could worsen, and the entire imperialist operation could fail spectacularly. The stock market crash and the global capitalist collapse are further exacerbated by the Houthi troops governing Yemen occupying the Strait of Hormuz, as they did during the Third Intifada, thereby blocking the main access route for global oil trade. Imperialist countries, having lost control of the Red Sea, must circumnavigate Africa to trade, which automatically drives up prices because it extends the routes necessary for global crude oil supply by thousands of kilometers, and also leaves oil tankers vulnerable to Somali and other pirates.

Down with the bombings, out with imperialism, and the Ayatollahs! Long live the revolution of the Iranian people and the Middle East!

Following the death of Ali Khamenei and the top brass in Iran, Iranian President Masoud Pezeshkian formally assumed the role of Supreme Leader during the transition period. The Iranian constitution stipulates that the president, the head of the judiciary, and a member of the Guardian Council will assume the responsibilities of the Supreme Leader until the Assembly of Experts of Iran convenes to elect a new leader. Therefore, President Masoud Pezeshkian, Chief Justice Gholam Hossein Mohseni Ejei, and one of the six jurists of the Guardian Council have the constitutional mandate to govern Iran. Having failed in its initial attempts to completely dismantle Iran’s military capabilities, the political situation in the Middle East, and indeed the world, is heading toward a horrific prospect for imperialism. The specter of a new global Intifada has resurfaced, potentially leading to a new global wave of mobilizations that could ultimately defeat imperialism and the government of Donald Trump—a prospect that is once again gaining momentum and causing global stock markets to plummet.

Between 70% and 80% of the US population has spoken out against the war. The Islamic Resistance of Iraq, a coalition of Iraqi militias backed by Iran, carried out 16 unspecified “operations” with “dozens” of drones against “enemy” bases in Iraq and the region . Kataib Hezbollah south of Baghdad began developing resistance actions in Iraq, while Hezbollah in Lebanon began firing missiles toward Israel, anticipating a possible Israeli invasion from southern Lebanon. Palestinian militias have already declared their support for the struggle of the Arab peoples against the bombing by imperialism and Israel, thus creating a bloc of Arab militia forces to confront imperialism in the region.

Iran’s bombing of Saudi Arabia, Bahrain, Kuwait, and the United Arab Emirates seeks to expose the sinister role of these extremely wealthy Arab bourgeoisies of sheikhs and businessmen who are supporting Israel and the US. No social class disappears from history without a fight, and thus the Iranian Islamic oligarchy, in its grave crisis, sends missiles toward military garrisons in Arab countries whose governments have “abandoned” them and, in fact, are submitting to the imperialist attack. But the international isolation of the Trump administration and Israel is also growing; they are outright hated worldwide, since European and Japanese imperialism, as well as the capitalist sub-metropolises of India, China, and Russia, are acting as mere spectators: they do not decisively support imperialist aggression and call for “de-escalation . “ It is a hypocritical and pro-imperialist policy because at the same time they neither prevent nor block imperialist aggression, which reveals the sinister and counter-revolutionary role of the UN, and all international political bodies that only serve to validate capitalism and global imperialism.

These events also eliminate 99% of the world’s left and the world’s charlatans who uphold the “Decoupling Theory ,” claiming that China and Russia are headed for World War III against imperialism. Reality clearly shows that these theories are pure charlatanism, that there is only one imperialism in the world, desperately trying to defend the global imperialist capitalist order, and that is the United States. All current events only reaffirm that what truly exists is a global struggle between revolution and counter-revolution, and that the capitalist governments of China, Russia, and India are simply vassals of US and European imperialism. They are a counter-revolutionary front that we must confront and destroy to end capitalism.

The Stalinists and social democrats who sow hope in capitalist countries like China and Russia, or in bourgeois governments like those of Lula and Petro, or the New Popular Front in France, or Syriza, or Podemos in Spain, are irredeemable traitors. The Iranian bourgeoisie itself, sinister, retrograde, and medieval, is being destroyed by its class contradictions, which render it incapable of waging a consistent anti-imperialist struggle. This Islamic capitalist oligarchy became entangled in the web of agreements and negotiations with imperialism, which led to the deaths of its fundamentalist Islamic leaders.

Honest activists who still remain in groups that foster illusions about bourgeois and capitalist governments must immediately break with them and join the Marxist regroupment of the Marx International. From the Marx International, we promote the unity of the peoples of the Middle East, unity in global mobilization to achieve the defeat of imperialist aggression, and simultaneously, the violent overthrow of the Arab dictatorships and oligarchies that serve imperialism. Therefore, from the Marx International, we say: Down with the bombings! Out with imperialism and Israel from the Middle East! Out with the Ayatollahs of Iran! Long live the revolution of the Iranian and Middle Eastern people!

Republished from: https://www.revolucion.org.es/l/down-with-the-us-and-israeli-bombings-out-with-the-ayatollahs-long-live-the-struggle-of-the-peoples-of-iran-and-the-middle-east/

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I sent this message (below) to you last week but I’m not sure that you saw it. The teachers are now on strike and they need our support more than ever.  

Please read on, sign up to show your solidarity, and spread the word.  

Thank you!

Türkiye: Teachers at an Italian School Demand Equality and Fair Pay

Turkish teachers working at Liceo Italiano I.M.I., an institution operating in Türkiye under Italian school status, have unionized against discriminatory practices at the school. Teachers state that despite carrying a heavier teaching workload than their Italian colleagues, they are employed under lower status and receive lower wages. They are calling for an end to this inequality, which they describe as creating “two different worlds within the same school,” and are demanding fair working conditions.

Rising inflation in Türkiye has severely eroded teachers’ salaries in recent years. Wage increases that remain far below the official inflation rate have pushed teachers into deep economic hardship. As no progress has been made in collective bargaining negotiations, the union has announced a decision to strike.

To learn more and to show your support, please click here.

And please share this message with your friends, family and fellow union members.

Thank you!

Eric Lee

LabourStart

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On January 26, 2026, a massive fire tore through a warehouse complex near Ruby Crossing in the Anandapur area of Kolkata, West Bengal. The warehouse was used by WOW! MOMO, a large Chinese food chain, owned by Indian capitalists, operating across the length and breadth of the country. The fire reportedly broke out at around 3:00 AM, originating in an adjacent decorator’s godown, before rapidly engulfing the nearby WOW! Momo warehouse. Initial reports confirm the recovery of 16 charred bodies, while 23 workers remain missing. Subsequent investigations revealed that both structures lacked even the most elementary fire-safety arrangements.

The fire minister arrived at the site only a day after the incident ; an arrival that itself stands as a damning indictment of the state’s criminal indifference toward the proletariat. His statement was as hollow as it was routine: “A probe has been initiated to ascertain the cause. We are also checking if a fire audit was done.” This bureaucratic phraseology is the familiar funeral chant of bourgeois governance uttered after the workers are already reduced to ashes.

Kolkata, like countless other cities across India, has a long and bloody history of such infernos. Yet instead of improvement, the situation has only worsened. This is no accident, no aberration, no “administrative lapse.” It is the law of motion of capitalism itself.

Marx long ago exposed the truth: under capitalism, human life is degraded into a commodity, valued only insofar as it produces surplus value. With the incessant and intensified accumulation of capital, and with the tendency of the rate of profit to fall, the bourgeoisie compensates by squeezing the proletariat ever harder;　cutting wages, extending working hours, and stripping away even the bare minimum conditions necessary for survival. Safety becomes an “unnecessary cost,” and workers’ lives become expendable inputs.

This incident is not an exception, it is the rule of capitalism.

As always, the city will not truly mourn the deaths of “a few workers.” There will be no collective rage, no sustained outrage. The event will be absorbed into everyday normalcy, swallowed by a deafening silence. A section of bourgeois liberals will perform their ritualistic protests, preaching individual boycotts of this or that corporation. Such gestures may soothe their consciences, but they strike no blow against capital. Boycottism does not threaten the system, it decorates it with the illusion of dissent.

What is urgently required is not moral outrage, nor consumer activism, but a strong, consolidated mass movement consciously directed toward revolution. The reformist left, primarily social democrats, who systematically divert every upsurge into safe, parliamentary, and ultimately sterile channels. The chasm between the anger of the proletariat and the grievances of the petty-bourgeois intellectuals i.e. the modern raznochintsy is not being bridged. The genuine historical tasks of a communist party are being abandoned. In the absence of a revolutionary vanguard, the spontaneous movement of the masses oscillates, exhausts itself, and inevitably crashes into a dead end, often leaving behind conditions worse than before.

The continuous normalization of the institutional murder of workers by big corporations is nothing but the accumulated historical frustration of betrayed struggles. It is the direct product of movements deprived of revolutionary leadership. The social democrats and reformists left obsessively catalogue the “failures” and “inefficiencies” of corporations and the bourgeois state, implying that capitalism could somehow be managed better, more humanely, and more responsibly.

This narrative is rooted in a vulgarized, distorted caricature of Marxism. Capitalism is not failing , it is functioning exactly as it must. This is everything the exhausted capitalist epoch can offer. And it will only offer more death, more misery, more barbarism.

The system is rotting, staggering forward in its death agony. It does not call for cosmetic alternatives built on the same material foundations. It calls for its complete overthrow.

Long live the World Socialist Revolution!

Lenin – Clara – Trotsky – Rosa!

Long live! Long live!

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mperialism activates the money-creation machine to cope with the crises that emerge from the collapse of capitalism.

Daniel Campos – The Marx International

The announcements made by US Federal Reserve Chairman Jerome Powell and the Federal Open Market Committee (FOMC) on September 18, 2025, signaled the start of a new round of financial bailouts and rescues of the global capitalist economy. This round is the fifth that the central banks of imperialist countries have carried out since 2008, hence the name QE5, which comes from the number 5 after the term “Quantitative Easing “ (QE), meaning the easing of rules for creating money. Following those announcements on September 18, Powell and the FOMC implemented three interest rate cuts, from a range of 5% to 3.5%, the level required to create cheap money and thus carry out the bailouts.

Trump is pressuring the Fed to act quickly, calling Powell “a fool ,” and the FOMC’s decisions have triggered a political crisis within the Fed, which is divided on how to address the crisis for the first time in decades. You might wonder: Are the world’s most important central banks going to create money to solve global poverty? Not at all. Financial bailouts and rescues are massive amounts of money that will end up in the pockets of the 1% oligarchy that dominates the global economy—millionaires who live in mansions with fleets of cars, own private islands, and travel in expensive jets. Financial bailouts and rescues are an irrational immorality because they involve squandering enormous amounts of wealth in the bottomless pit of global corporations.

The Fed is, in effect, the world’s central bank, because it prints the dollar, the global currency of capitalism. Therefore, the decisions made by its chairman, Powell, directly impact the outlook and future of capitalism. Why does Trump call Powell stupid? Is it because he’s in a “hurry” to lower interest rates? Why does his pressure trigger crises at the Fed? The answer to these questions is that QE5 will face a completely different crisis scenario than previous bailouts.

In the image, financial commentator Jeff Cox reports on Trump’s insults to Powell.

The crisis of capitalism is of historical, civilizational, and epochal magnitude, and its main expression is the bailouts and rescue packages. These operations, called QE1 in 2008, QE2 in 2010, QE3 in 2012, and QE4 in 2019, addressed a capitalist landscape in the throes of a severe crisis, but compared to the current situation, they seem like a joke. QE5 will have to confront an unprecedented worsening of the global capitalist crisis, which we can define as a true “perfect storm.” That explains Trump’s “haste,” the clashes with Powell, and the open crisis at the Fed.

These are all reactions born of the desperation of the ruling classes, who are perfectly aware of the disaster they have caused, the impending catastrophe they are hiding from the people. In this article, we Marxists will explain in detail what the “perfect storm” of global capitalism that is coming consists of. And at the end of the article, we will explain the impact that the global class struggle has on the capitalist economy, and how that impact is already clearly manifested in the rising prices of gold and precious metals.

QE5 in the face of capitalism’s “perfect storm”

What challenges does QE5 face? Since 2020, capitalism has been experiencing a consistent collapse due to several critical factors, including global recession, supply chain disruptions or global bottlenecks, the collapse of trade, the destruction of productive forces, widespread precarity, poverty, environmental devastation, climate change, bubbles, speculative maneuvers, crashes, bankruptcies, pandemics, wars, and so on. What’s new is that this collapse has given rise to six major crises simultaneously, some of which had been brewing for some time, constituting a “perfect storm” for capitalism. 

Each of these six crises threatens to burst the “bubble of everything” —that is, the complex of speculative bubbles plaguing global capitalism, such as the ETF and financial services bubbles, the China bubble, the Artificial Intelligence (AI) bubble, the world’s real estate bubbles, and so on. Bubbles are a term from bourgeois economics that refers to the masses of over-accumulated capital invested in an asset, commodity, or product, seeking extraordinary profits. When that commodity or asset fails to achieve the expected returns, the bubble bursts, leaving behind a desolate landscape of mass bankruptcies, layoffs, and closures, leaving that sector of the economy in a state resembling a barren wasteland.

The image shows the ” everything bubble,” which had already surpassed $20 trillion in 2023, far exceeding both the dot-com bubble and the subprime mortgage bubble. Source: Federal Reserve Board of Governors

We will analyze the six crises separately, but it is necessary to clarify that these crises are developing simultaneously; that is, they are mutually reinforcing. The separate analysis is purely for pedagogical purposes, to aid understanding, but the elements of analysis can only be fully grasped if they are understood as simultaneous crises that interrelate unevenly and in combination within the broader context of the global capitalist economy.

1) The development of global stagflation

To confront the collapse, central banks injected approximately $30 trillion in 2019, 2020, and 2021 in the largest bailout operation in history to date: QE4. But by injecting in just three years the same amount of money as in the previous twelve, this brutal creation of money out of thin air led to the explosion of global inflation in 2021, as you can read by clicking here. Fearing runaway inflation and in an attempt to prevent further global price increases, the leaders of global imperialism halted the bailouts and withdrew money from circulation in an operation called “Quantitative Tightening” (QT). This was the second QT, as the first had been implemented between 2015 and 2019.

QT failed to curb the inflation that had become structurally entrenched in capitalism. But the implementation of QT’s monetary tightening unleashed widespread bankruptcy: In the second half of March 2023, global imperialism faltered as a wave of bankruptcies erupted in the United States, beginning with Silicon Valley Bank, followed by First Republic Bank, Signature Bank, and 186 other banks declaring themselves in danger. In Europe, Credit Suisse, one of the ten global corporations that dominate the world economy, collapsed. In other words, in seeking to curb inflation, the authorities of global capitalism pushed the global economy into recession. Thus, the combination of QE4 and QT2 resulted in a disastrous situation of capitalist stagflation.

What is stagflation? The combination of recession and inflation, the worst symptom of a capitalist crisis. The term was coined in 1965 by the then British Chancellor of the Exchequer, Ian MacLeod, in a speech to Parliament when he said: “We now have the worst of both worlds, not just inflation on the one hand or stagnation on the other, but both together. We have a sort of ‘stagflation’.” (Ian Norman MacLeod, House of Commons Official Report, November 17, 1965) . That term, applied to England in 1965, is now applied to the entire world. Stagflation looms over all countries because it spreads inflation and recession across the populations of all five continents.

Why is stagflation “the worst of both worlds” for the officials of capitalism? Because stagflation is a midwife of revolutions, provoking a popular reaction. The masses of the world, gripped by inflation that drives up the cost of living and bankruptcies that cause mass unemployment, are compelled to take to the streets and overthrow governments, carrying out revolutions. We have the example of what happened in Iran, where the runaway hyperinflation caused by the collapse of the rial sparked the revolution against the Ayatollahs, or the rampant inflation in imperialist countries that has triggered the massive strike movement in Europe, with general strikes in Belgium, France, and Italy, as well as the development of the unionization movement, the “new unionism,” and the growth of new labor organizations in the United States.

In stagflation, the problem isn’t just inflation, but also the recession that plagues the world’s economies, and especially imperialist countries. One of the most dramatic chapters of the global capitalist crisis is the crisis in Germany, due to its global implications and the impact it has on Europe. The German economy is the second largest in the world’s imperialist capitalist economy, considering that the US is considered the world’s leading economy with a GDP of $ 30.6 trillion, followed by the European Union (EU), the Eurozone excluding the UK, with a GDP of $21.717 trillion, and then China with $19.5 trillion. Germany is the heart of the Eurozone, and its performance sets the outlook for the entire EU. However, in 2025 alone, 24,000 companies went bankrupt in Germany, as you can read by clicking here.

Germany is historically considered the industrial heartland of Europe, but the EU’s recessionary trend stems from Germany being one of the worst-performing imperialist economies globally. Among the hardest-hit sectors, one in six major bankruptcies in 2024 originated in the automotive industry, but the mechanical engineering sector is also at risk. The construction industry suffered a severe blow last year, with a 53% increase in bankruptcies, while the healthcare sector saw 23 major bankruptcies recorded last year, and two-thirds of hospitals and clinics anticipate a crisis by 2026. All of this has led to rising unemployment, further exacerbating the situation for workers and the people of Germany.

The German people face a severe housing crisis affecting a broad spectrum of their population. A housing shortage has left more than 9.5 million people, mostly families, living in precarious conditions. The failure of Chancellor Olaf Scholz’s housing plan exacerbated the problem in large municipalities and university towns in a nation like Germany, largely composed of renters. The housing crisis is yet another chapter in the global crisis of capitalism, a tragedy not only for the German people but for all people in imperialist countries, sub-metropolises, and semi-colonial states.

https://data.worldbank.org/share/widget?end=2024&indicators=NY.GDP.MKTP.KD.ZG&locations=DE&start=1965

The image shows Germany’s collapse. From the era of the “German miracle” in the postwar period with 7.5% growth, to 5% growth during globalization, in the 21st century Germany has plummeted to 0.5%. Source: World Bank. You can browse the image to see the different data points.

This entire scenario influences Donald Trump’s actions. The crisis of the world’s largest economy, the US, followed by the crisis of the second largest, the EU, and then the third largest, China, which we will discuss later, is what desperately pushes Donald Trump to pressure the Fed to lower interest rates and thus offer cheap money in bailouts to revive the economy. But by pursuing this policy, Trump only provokes a political crisis at the Fed, because officials are aware that injecting massive amounts of fictitious capital will trigger inflation and provoke more uprisings and revolutions. Meanwhile, they fear that if they don’t inject these bailouts, the world will head toward a wave of bankruptcies and recession.

Cornered by the impasse of the global crisis and Donald Trump’s desperation to avoid the midterm elections amid a recession, Fed officials were divided and voted by a narrow margin to cut interest rates. Powell’s term ends in May, and Trump will already be seeking to replace him amid insults, because he wants quick bailouts, but Fed officials are terrified of exacerbating inflation in the US and the world. Regardless of what the Fed does in the future, Trump has triggered a political crisis within the Fed by insulting its chairman and leading to division over the push for QE5, which, if continued, will further aggravate the crisis of capitalism and spark revolutions across the globe.

2) Breakdown of the globalization regime

Beginning with the Thatcher and Reagan governments in the 1980s, a new period of capitalism emerged in which a new regime of accumulation, known as “neoliberalism,” “globalization,” or the “New Economy,” was consolidated unevenly and in combination. We commonly refer to it simply as “globalization .” Within this economic regime, global corporations emerged as the dominant new forms of accumulation. The central characteristic of globalization is a violent economic, political, and military counteroffensive against the masses worldwide, aimed at imposing low wages, deregulation, privatizations, and the dismantling of workers’ and popular gains, while simultaneously carrying out a widespread semi-colonization of underdeveloped countries by capitalist powers.

As part of this process, the sub-metropolises of imperialist capital emerged, such as China, Russia, Brazil, South Africa, and India—the so-called BRICS countries—with an accumulation of investments that effectively relocates capital to smaller economies. Two pillars that sustained this economic regime of capitalism for 40 years were the absence of inflation and, although growth rates were mediocre, the absence of recession. The axis of accumulation shifted to China and the United States, with collaboration between the two in global trade through the massive influx of imperialist capital that flowed to China, taking advantage of the cheap labor resulting from the high rate of exploitation imposed by the capitalist dictatorship of the Communist Party of China (CPC). Simultaneously, with China’s entry into the WTO and its financing of US deficits through the purchase of Treasury bonds, a strategic agreement was established between imperialism and the sub-metropolis.

But the collapse of global corporations in 2008/09 made it clear that globalization as a capitalist accumulation regime had entered its exhaustion stage. The collapse of global corporations in 2008/09 demonstrated that globalization is an exhausted accumulation regime, and these corporations had to be bailed out for capitalism to continue to exist. Then came QE4, which dismantled the constitutive pillars of globalization: the absence of inflation and recession. From that point on, globalization broke down, stagflation emerged, and capitalism began its journey toward a new capitalist accumulation regime.

Are we already in a new accumulation regime? No. To inaugurate a new accumulation regime, capitalism must carry out a colossal burning of capital that allows for a new centralization of capital, one that surpasses and contains the bankrupt Global Corporations. The massive intervention of the central banks of imperialist countries, especially the Fed, points to two trends as to where things might go after the crisis of globalization: On the one hand, if the counter-revolution defeats the working class on a global scale, it could impose a new, superior form of accumulation based on the emergence of Global Corporations associated with the central banks of imperialist countries in a new form of monopoly-state accumulation that allows for the survival of capitalism. But if this does not happen, and the struggles of the working class triumph on a global scale, the intervention of central banks expresses the need for the expropriation and nationalization of the banks to lead to the elimination of capitalism itself and a global socialist economy. Both trends will not be resolved in the economic sphere, but in the sphere of international class struggle in the coming period.

3) The bankruptcy of global corporations

When the crisis erupted in 2007/08, the leaders of capitalist governments said that bailouts would prevent a recurrence of such gigantic financial institutions (euphemistically called ” Too Big to Fail”) that had to be rescued with public funds. But reality shows the opposite: So many years of bailouts have transformed global corporations into larger and more dangerous monsters than before. They have almost doubled in size because they have continued to accumulate capital at breakneck speed, building up enormous masses of fictitious capital, exposed to debt and all kinds of complex assets such as derivatives.

Global corporations are a handful of companies that control the mergers and acquisitions (M&A) process, vital to the functioning of capitalism, because they determine where capital flows and investments go. In financial jargon, these companies are called “bulge brackets”; they appear as backers in all kinds of purchase and sale agreements for large companies, and through this means, they dominate global capitalism. The countries where these companies are located are the US, England, France, Germany, Japan, Canada, and Switzerland. These companies represent imperialism, in Lenin’s definition, and the countries where their parent companies are located—the US, England, France, Germany, Japan, Canada, and Switzerland—are the imperialist countries.

The different categories of “Bulge Brackets” (BB)

The following are clearly BBs: JP Morgan, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup (USA), UBS (Switzerland), and Barclays (England). Potential BBs include: Jefferies and Wells Fargo (USA), BNP Paribas (France), Mizuho (Japan), and RBC (Canada), while Deutsche Bank (Germany) is in a “questionable” position .

It is precisely these operations by global corporations that inflate speculative bubbles, such as real estate bubbles, which have doubled twelvefold and spread to 11 countries, now affecting some of the world’s most important cities, including London, Geneva, Paris, Zurich, Tokyo, Vancouver, and San Francisco. Speculative maneuvers within the real estate industry have driven up housing prices and generated the world’s most significant housing crisis, affecting millions of families with foreclosures, evictions, and displacements at levels not seen since the 2009 financial crisis.

One of the oldest speculative maneuvers in capitalism is the share buyback, a tactic that involves artificially inflating a company’s share price regardless of its economic performance. The company itself buys back its shares, thus increasing their value and making the company worth more, even if its operations are disastrous. After 10 years of bailouts, multinational corporations used the injected funds to carry out massive share buybacks, further exacerbating the problem of corporate size and the artificial growth of stock markets. This increase has nothing to do with the performance of the economy, which is stagnant and teetering on the brink of recession.

The image shows speculative bubbles in 2025. Those at risk of bursting are in red, while those that are overvalued are in yellow.

If the “too big to fail” companies are now even bigger, it’s because they received monstrous injections of capital over 18 years, which the executives in charge of these companies used to speculate and expand their fortunes. Multinational corporations are run by professional swindlers, white-collar criminals, who are permanently outside the law. The wealth and overaccumulated capital of these large companies that dominate the world economy is inversely proportional to the hunger, poverty, and misery suffered by billions of people worldwide.

These corporations, whose size is monstrous and ever-growing, plunder, pressure, liquidate, and expropriate the global economy, its various sectors and social classes, including capitalist sectors, the middle class, nations, companies, branches of production, commerce, industry, states, provinces, regions, zones, and cities. From the speculative development carried out by these corporations, not only have old speculative maneuvers like share buybacks been revived, but new and highly dangerous speculative products and maneuvers have also emerged. In the 2007-08 crisis, the new speculative products that arose at that time, such as mortgage-backed securities (MBS), collateralized debt obligations (CDOs), and credit default swaps (CDS), played a major role.

These products are incredibly complex because they offer a single package of numerous speculative securities of varying value and quality. For example, CDOs are products comprised of thousands of individual mortgages bundled together to form a mortgage-backed security with different tranches. For instance, lower tranches are filled with high-risk mortgages that could default, while higher tranches are considered safer. They are given sophisticated, strange, and obscure names like Abacus 2005-3, Class V Financing, and Jupiter High Grade. JP Morgan issued US$128 billion of these, and Citigroup issued US$110 billion, giving them the opportunity to remove debt from their books and improve their financial image. These securities were purchased by governments, insurance companies, pension funds, farmers’ unions, university endowments, large banks, and others who, deceived by capitalists, fill their coffers with these time bombs that could explode at any moment.

And increasingly complex speculative products are emerging, such as the square CDO, which is composed of the lower tranches of hundreds of other CDOs, or the synthetic CDO, which includes a package of CDSs. Even riskier financial instruments have emerged, posing a growing threat, such as Exchange-Traded Funds (ETFs), which are larger funds. They don’t bet on the price of a commodity or asset, but rather on the price of an index—for example, a commodity index, a stock market index, a volatility index, a technology stock index, and so on—any index.

ETFs are larger than synthetic CDOs and package much more. For example, if someone wants to bet on the oil price index, they buy the ProShares UltraShort Bloomberg ETF (SCO). If they want to bet on the price of a cybersecurity company index, they buy the PureFunds Cybersecurity ETF (HACK), and so on. The development of ETFs has raised all sorts of warnings from analysts and journalists, who denounce them as “weapons of mass destruction” that have distorted stock prices. Outside of ETFs, this whole range of financial products, such as stocks, bonds, commodities, currencies, etc., are called ” derivatives” because they are contracts whose value is derived from an underlying asset.

Global corporations are riddled with derivatives contracts. For example, Deutsche Bank’s current exposure to the derivatives market totals €54.7 trillion, five times the GDP of the entire European Union and 20 times the GDP of Germany. This enormous mass of fictitious capital, if defaulted, could unleash an unstoppable chain reaction of bankruptcies and devastate entire sectors of the global economy. This dangerous exposure of Deutsche Bank is just one example of the very serious dangers these entities pose to the global economy, a situation repeated with other multinational corporations such as JP Morgan, Goldman Sachs, Bank of America, Citigroup, and so on. This is why the authorities of capitalism cannot allow the bankruptcy of a corporation, a country, or practically any economic agent, and they bail out everything they can.

Derivatives are instruments not used to create jobs or stimulate the economy, but rather by managers and executives of multinational corporations to distribute dividends, pay bonuses, and high salaries. The financial bailouts and rescues that began with QE5 demonstrate what Karl Marx stated in Capital: “In times of crisis, the appetite for money intensifies. ” In other words, the crises of global corporations act like a bottomless pit whose demands require more and more money to keep the system alive. For this reason, global corporations are perpetual creators of more disasters and even greater crises looming in the coming period.

4) The crisis in Japan

A silent earthquake began to ravage the global capitalist-imperialist economy on November 10, 2025, when the Bank of Japan raised the Japanese bond yield by 1.75%. This began to affect global pension funds, cryptocurrencies, mortgages worldwide, and more, due to the collapse of the Japanese carry trade. We will explain the collapse of this speculative maneuver, which capitalists around the world had employed for over 36 years and which became a fundamental tool of capitalism, now in crisis.

Japan has been facing a long-standing crisis for 36 years, ever since the Tokyo real estate bubble burst in 1990. From then on, Japan’s economy languished, with zero growth, zero interest rates, and zero inflation, showing barely any signs of life. Consequently, Japanese imperialist companies and their large financial corporations focused on exporting capital out of Japan using a maneuver called “carry trade.” This involved borrowing yen with zero interest rates and buying other assets with higher interest rates to generate substantial profits. Japanese capitalists and speculators invested trillions of dollars in foreign markets around the world.

When the widespread bankruptcy of global corporations erupted, Shinzo Abe’s government injected over $10 trillion in financial bailouts and rescue packages in 2013. With what became known as “Abenomics,” the masses of cheap Japanese capital multiplied and reached new and gigantic proportions. In doing so, Japan provided a massive, invisible flow of capital to the global capitalist economy by printing money at a 0% interest rate, which inflated stock markets, assets, pension funds, corporations, and all kinds of businesses.

https://data.worldbank.org/share/widget?indicators=NY.GDP.MKTP.KD.ZG&locations=JP

The image shows Japan’s economic collapse. From the “Japanese miracle” of the 1960s and 70s to zero growth following the bursting of the Tokyo real estate bubble in the 1990s. You can explore the interactive image to access the data.

But the outbreak of global inflation spoiled Japan’s seemingly endless party, hitting the country hard and triggering its first inflation surge in 36 years. This forced the Bank of Japan (BoJ) to raise interest rates on November 10, 2025, to combat inflation. However, by raising interest rates, the BoJ effectively halted the carry trade, effectively stopping the machine that handed out easy money to capitalists and speculators worldwide.

Capitalists continue to warn of the danger of the end of one of the largest printers of cheap money, which has ceased to create money. “There is a risk in Japan… The carry trade is disappearing, and people aren’t measuring the domino effect that Japan can cause , “ noted Bertrand de Montauzon, CEO of Brightgate Capital.A 1.75% increase in Japanese interest rates may sound minimal, but it is enough to trigger a global earthquake because masses of Japanese capital began leaving the rest of the world and returning to Japan, which could push thousands of companies worldwide into bankruptcy.

The capital that Japan used for decades to finance the world’s capitalist enterprises with an invisible but constant flow, practically giving away money for free, is now losing money if it remains abroad and returns to speculate within its own country. This shift in capital behavior will expose the global corporations that accumulate enormous amounts of bad debt, and they will no longer have the backing of massive amounts of Japanese capital to cover it. According to data from the Ministry of Finance, Japan’s foreign investments amounted to 666.86 trillion yen, the equivalent of 4.54 trillion dollars, which are now vanishing—something the governments of the world’s imperialist countries cannot prevent, thus setting the stage for a global tsunami of bankruptcies.

5) The China crisis

The world’s largest factory is in complete crisis: its growth has plummeted from 14% to 5%, which is considered a recession. It has developed a real estate bubble estimated at approximately $30 trillion, the bursting of which has the potential to destroy half the global economy, and which is now slowly imploding . And now, from a country where capital from all over the world used to flow in to invest, the “Great Withdrawal” has begun, with capital fleeing . Let’s analyze the crisis in China, which is also exacerbating the global crisis of capitalism.

First and foremost, it’s important to clarify a point stemming from the fact that a sector of bourgeois public opinion constantly raises the “specter” of China as a rival to the US, and there is confusion within a sector of activism due to the actions of charlatan leaders of global leftist groups who label China an “imperialist” country . The reality is that the millions of products arriving worldwide bearing the “made in China” label , and the companies and banks that appear under the Chinese flag, are not Chinese themselves, but rather the expression of imperialist capital presented under a Chinese name. All major Chinese companies operate on Wall Street, in London, and in Hong Kong under imperialist supervision and have received millions of dollars in massive investments from American, European, and Japanese imperialist capital for decades. Therefore, the entire movement of companies and capital with Chinese names is nothing more than the expression of the activity of Chinese bourgeoisie associated with imperialist capital.

China has multinational corporations and large companies, but it doesn’t possess global corporations or bulge brackets, which is why it lacks the capacity to control or contest the destiny of the world economy. The charlatans who speak of a Chinese “empire” are impressed by Chinese brands and companies, but they haven’t seriously studied the origins of the capital that sustains them. The reality we see every day is that, far from witnessing a “third world war” between China and the US, the Chinese government, beyond occasional, understandable friction, is completely subordinate to the imperialist order and accepts its role in the international division of labor imposed by imperialism.

Having clarified that point, China is sub-metropolis born from the crisis in Japan, which, when it collapsed in the 1990s, forced imperialism to seek another pillar of support. It found in China a higher rate of exploitation, impossible to achieve in Japan, Europe, or the US. This high rate of exploitation was achieved against a young, defenseless migrant proletariat from the countryside, lacking tradition and knowledge of their rights, and brutally repressed by the capitalist dictatorship of the Communist Party of China (CPC). The imposition of terrible levels of exploitation and precarious work on millions of people allowed for the “glorious 15 years” of constant growth and expansion of China’s capitalist economy between 1992 and 2007, generating enormous profits for global corporations and the CPC’s ruling oligarchy.

But China’s “party” ended when the global capitalist crisis hit China hard in 2008/09, and Xi Jinping’s government was forced to respond with financial bailouts to rescue bankers and corporations operating in the country. With these bailouts, the CCP government channeled massive amounts of money to provincial and city governments to launch housing loan programs initially intended for the bourgeoisie and the upper petty bourgeoisie. But the business grew exponentially, generating such substantial profits that the loans began to extend to sectors of the working class and the general population.

Soon, these working-class sectors were unable to repay their mortgages, rendering these immense amounts of loans “uncollectible” and transforming into a gigantic speculative bubble on the verge of bursting. The “Chinese bubble” was concentrated in the crisis of real estate giants such as Evergrande Group, Fantasia Holdings Group Co., Central China Real Estate Ltd., and Guangzhou R&F Properties, among others. The CCP oligarchy could not halt the wave of construction contracts for fear of bankrupting the entire economy, so they continued building houses and apartment buildings, even though no one could live in them. Thus, the Chinese real estate bubble had striking manifestations such as the existence of “ghost cities” in Ordos, Inner Mongolia; Tianducheng, famous for being a replica of Paris; and Shenyang, a complex of European-style luxury mansions, to name a few. Enormous complexes and cities where no one lives.

Faced with the worsening crisis and the risk of the real estate bubble bursting, the imperialism already experienced in bubbles like the Tokyo real estate bubble, the US subprime mortgage bubble, and those in Ireland and Spain, intervened in China to prevent it from becoming another Japan. US imperialism came to China’s aid by establishing an agreement on August 26, 2022, between the Public Enterprise Accounting Oversight Board (PCAOB), a corporation under the control of the US Congress, the China Securities Regulatory Commission (CSRC), and the Ministry of Finance of the People’s Republic of China. The agreement stipulated that the US regulates, inspects, and controls Chinese companies operating on Wall Street, which are the most important in China because they receive the largest flow of investment, as you can read by clicking here.

US officials and accountants from the PCAOB began auditing, supervising, and controlling the accounting records of all major Chinese capitalist companies, under the laws of the US imperialist state—a practice that continues to this day and has allowed US inspectors to complete their reviews in mainland China and Hong Kong without difficulty . Simultaneously, US-China summits began to be held regularly, and during Janet Yellen’s visit to Beijing from July 6-9, 2023, agreements were reached to help the bubble burst “softly.” Through this collaboration with the US, China was able to proceed with declaring Evergrande and some other corporations bankrupt, attempting to prop up China as its economy headed toward recession.

It was this entire process of the “implosion” of the Chinese bubble, comprised of bankruptcies, layoffs, and the destruction of parts of its production sectors, that caused the economy to fall into recession. China left behind the 10% to 12% GDP growth, with peaks of 14% during the “15 glorious years,” only to now plummet to 5% growth, which is considered a recession—a true collapse that reached negative peaks of -6%. Thus, what was once the “engine” of growth for the global capitalist economy has disappeared; it no longer exists. Now, China has become a lead weight on the world economy, which is why the capital that once flowed into China is now beginning to withdraw.

Foreign direct investment (FDI) in China, which during the “glorious 15 years” had reached flows of over $200 billion, has now plummeted to $200 billion by 2025—a negative figure, meaning a massive outflow of capital from China. This drastic decline represents the lowest point for investment in 30 years. But the fall in FDI in China is not solely a product of the bursting of the real estate bubble and the overall strategy of imperialism.

The image shows the dramatic decline in foreign direct investment in China since the 1990s. It reached $200 billion in 2009 and plummeted to a negative $200 billion between 2024 and 2025. Source: Bloomberg/ State Administration of Foreign Exchange of the People’s Bank of China

The decline in foreign direct investment (FDI) and the process of the “Great Withdrawal” are also a product of the falling rate of profit in China, a result of the resistance that the workers and people of China have been waging against the CCP dictatorship. For more than 10 years now, the Chinese working class and the indigenous peoples that make up the multiethnic Chinese state—in reality, a prison of peoples—have been engaged in a struggle against the capitalist dictatorship of the CCP.

The struggle of the Uyghur people residing in the Xinjiang Uyghur Autonomous Region in 2014, the Hong Kong revolutions of 2014 and 2019, the wave of workers’ strikes in Guangdong between 2011 and 2014, and the wave of strikes and protests that erupted across China following the Foxconn strike in November 2012, as well as the “White Papers” mobilizations in 2012, were the most visible expressions of a changing political situation in the country. And now the people were beginning to confront the dictatorship. In May 2015, a wave of strikes erupted among workers at Yunda Express in Chengdu, Ligao Lighting Co. in Dongguan, POSCO Stainless Steel Co. in Zhangjiagang, and others, to name a few.

The implosion of the housing bubble has influenced the growth of workers’ struggles and protests, as seen with over 100 homeowners in the stalled Heda Xingfu housing project in Qingdao, Shandong Province, who blocked National Highway 204. Similarly, in Xianyang, Shaanxi Province, and the coastal city of Dalian, Liaoning Province, hundreds of homeowners organized demonstrations against the forced demolition of their properties, to name just a few examples. It is this growing resistance of the Chinese people and workers that prevents employers from achieving the same levels of exploitation they enjoyed before such struggles existed.

This situation is leading many multinational corporations to shift their investments to countries like Vietnam, India, and Indonesia, which, in some sectors, have similar levels of exploitation to China. If foreign companies continue to withdraw or reduce their operations in China, the country’s economic growth could be affected in the medium and long term. The uncertainty caused by the economic slowdown, with its sluggish growth and declining domestic demand, is causing imperialist capital to lose confidence and reconsider its investments in China. To try to reverse this situation, Xi Jinping’s capitalist dictatorship has launched a new round of bailouts and rescues by the end of 2025, seeking to revive the economy by establishing programs like “Cash for Junk,” which aims to provide subsidies for citizens to trade in their old appliances, phones, and vehicles for newer models.

For this program, the CCP dictatorship doubled the budget to 300 billion yuan, approximately $42 billion, financed through the issuance of ultra-long-term treasury bonds. Furthermore, the dictatorship raised the budget deficit target to 4% of GDP, up from the traditional 3%, allowing the government to inject more money into the economy through special bonds for local governments earmarked for social protection, offering child allowances, implementing direct aid for families with more than one child, and providing subsidies for childcare and early childhood education.

Furthermore, tax cuts for childcare and eldercare expenses are another set of measures to alleviate the situation of families suffering from poverty. On the other hand, the People’s Bank of China (PBOC), the central bank, moved forward with reductions in bank reserve requirements to release approximately 1 trillion yuan to facilitate consumer loans and loans to small businesses. Thus, the Xi Jinping government, operating from Zhongnanhai (the Chinese government headquarters), put millions into the pockets of the people so they could buy goods and prevent the economic collapse, in line with Donald Trump’s implementation of QE5. But no matter how many measures the CCP dictatorship launches to reduce social discontent, the profound changes brought about by the crisis in capitalist China will not prevent the outbreak of revolution.

6) The cryptocurrency crisis

Another factor exacerbating the crisis of capitalism is the cryptocurrency crisis. For the past six months, cryptocurrencies have been plummeting, with the total market capitalization falling from nearly $3 trillion to $2.71 trillion—a drop that has resulted in enormous losses. Cryptocurrencies are highly dangerous speculative instruments that have led to numerous scams, such as the one in which Argentine President Milei publicly defrauded hundreds of savers with cryptocurrencies, among many other public scams perpetrated using these financial instruments.

The image shows the collapse of Bitcoin over the last 6 months, from September 2025 to January 2026.

Since the global corporate bankruptcy of 2008/09, a host of pundits and charlatans have claimed that cryptocurrencies, and especially their star, Bitcoin, are the solution to all of capitalism’s problems. They said that cryptocurrencies are an alternative to the dollar, that any country that adopts them will emerge from the crisis, that cryptocurrencies could build a more democratic “new capitalism ,” and a whole string of other nonsense spouted by many of their most ardent defenders who call themselves “anarcho-capitalists.”

These same charlatans claimed that the dollar’s fall was a product of “the end of US hegemony.” They said that “the rise of China or Russia as alternative powers would bring a new order with the yuan, the renminbi, or the ruble as currencies.” And that Bitcoin would be “the ultimate alternative in this new order .” All false. The reality is that the dollar’s collapse is dragging down all currencies, all financial instruments, speculative securities, and now, cryptocurrencies are also being dragged down with it. And this has nothing to do with a question of “hegemony,” as the ignorant keep repeating, but rather with something very simple: To the extent that financial bailouts and rescues create gigantic masses of fictitious capital, all existing capital masses are devalued.

This devaluation is a product of the Law of Value: the only thing that produces value is human labor. Capital, and any form of money such as financial instruments, have no inherent value; to acquire value, they must exploit human labor. In parallel with the collapse of cryptocurrencies, the prices of precious metals, gold and silver, rise, which is also an expression of the Law of Value.

The image shows how in the first days of 2026, while cryptocurrency prices collapse (in yellow), gold prices rise (in green).

Gold and silver keep rising in value because they are commodities that embody human labor; that’s why they have historically served as a reserve in central banks and as backing for all the world’s currencies. The leaders of capitalism, when implementing financial bailouts and rescues, act like sorcerers, believing they can violate the laws of science, or ignoring them altogether. These desperate capitalist leaders create gigantic masses of fictitious capital and violate the Law of Value, believing that nothing will happen to them and that there will be no major consequences. But the Law of Value, like the Law of Gravity, cannot be violated without consequences: No one who jumps from the 100th floor of an apartment building comes out unscathed.

The collapse of capital, the devaluation suffered by all capital worldwide simultaneously, is the inevitable result of the deepest laws of economics. All the charlatans who predicted a world of “bitcoins” are receiving a furious slap in the face from reality upon witnessing the current collapse of cryptocurrencies.

Furthermore, the ” cryptocurrency crisis ” has reached a critical point in 2026 as regulatory bodies of capitalism demand their entry into the speculative cryptocurrency market, where all kinds of illicit operations take place, including money laundering, organized crime funds, drug trafficking, human trafficking, and so on. We can call this period the end of the “Wild West” due to the regulatory pressure of laws like MiCA in Europe and new legislation in the US that have forced crypto companies to operate like traditional banks.

Forced to “launder” their operations, many platforms that couldn’t meet capital or transparency requirements have gone bankrupt or disappeared in recent months. This “laundering” process eliminates the anonymity and lack of controls that characterized the sector, which had previously granted impunity to the flow of funds. But another phenomenon is impacting the cryptocurrency crisis: it’s no longer a market for ” small investors ,” as the “anarchists” who believed they could become millionaires overnight by trading from a computer in their garage once envisioned.

Now, large investment funds and global corporations are beginning to take over the sector with instruments like ETFs, which are absorbing the entire business and acquiring major cryptocurrencies like Bitcoin, as well as “altcoins,” the alternative currencies that have now entered a “survival crisis.” This is how another of the great laws of Marxist economics is being fulfilled to the letter, sweeping away the “anarchist dream” of those who fancied a “democratic Bitcoin capitalism.” The law of the tendency toward centralization and concentration of capital, which Marx explained in Volume 1 of Capital, is being fulfilled—a trend that is beginning to develop in the speculative cryptocurrency business, which is evolving from a group of individual speculators to a concentrated business of large corporations.

The impact of the global class struggle on the economic crisis

The QE5 program faces this panorama of six combined crises that it can hardly resolve. Rather, it will act like a medicine that barely alleviates the pain, while the body of capitalism gradually decomposes and implodes. We have presented the different crises separately in summary form, but we have pointed out that this is not how they function in reality, where they operate by reinforcing each other. But we also want to emphasize, as we did at the beginning of the article, that nothing that happens in the crisis of capitalism is unrelated to what happens in the class struggle.

The crisis of capitalism is, first and foremost, the product of a revolutionary mass upsurge, a series of revolutionary waves unlike any seen in human history. This global revolutionary process is unfolding across five continents with three revolutionary waves, the third of which we are currently experiencing. These waves include mobilizations sweeping through Iran, Turkey, the “No Kings” movement in the US , the movement against ICE, Serbia, Bangladesh, Nepal, Morocco, Peru, Paraguay, Ecuador, France, the Ukrainian national revolutionary war, Syria, Rojava, the Palestinian national liberation Intifada, and more. This wave is striking both dictatorships and bourgeois democratic regimes in crisis, mercilessly shaken by a colossal revolutionary upsurge.

Financial bailouts and rescues are the defensive response of global imperialism to the global revolutionary upsurge. While propping up a dying capitalist system, they attempt to halt the revolution sweeping across five continents with unemployment benefits, food stamps for the hungry, and welfare assistance for young people. They want to divert the mobilizations with deception, but the people of the world have risen up to fight for their future, disregarding the pronouncements of governments, regimes, and capitalist institutions, and indeed, fighting against them all. One striking fact that profoundly reveals the impact of the class struggle on the crisis of capitalism is precisely the rise in precious metal prices.

Precious metals are a commodity that acts as a safe haven for capital. When capitalists are terrified of revolutions, they flee in panic to “safe investments” such as gold, silver, and other precious metals, which will never result in a loss because they do not depreciate. They also take refuge in the dollar, not because of the strength of the US economy, but because of the military might of the Pentagon and its seven fleets, which act as the ultimate military insurance for global capitalism. The striking fact is the rise in the price of precious metals, which is climbing to infinity around 2024 and 2025.

The image shows the dramatic rise in the price of gold. It remained relatively stable until 2024, after which it began its unstoppable climb in 2024 and 2025. Source: Trading Economics

The years 2024-25 are the years in which major revolutionary processes like the Third Intifada, in addition to questioning the pillars of capitalism, begin to express a clear advance in the consciousness of the world’s peoples, manifested in slogans like “Free Palestine from the River to the Sea,” “Death to the IDF,” and begin to show the development of new political phenomena such as the emergence of Generation Z, or the resurgence of the Black Panthers in the USA, a symbol of the process of self-organization and self-defense that is sweeping the world, giving rise to a new generation of activists who are the embryo of a new trade union and political leadership of the working class and the people.

Thus, this period of the 21st century reveals the combination of the February Revolutions, social revolutions against capitalism, with the political revolution, the process of the collapse of all the organizations and parties that led the mass movements in the 20th century. The crisis of social democracy, Stalinism, bourgeois nationalist movements, former guerrillas, and all reformist movements is the result of their losing their foundation as capitalism collapses. A capitalism without a boom and without reforms leaves reformism without a base of support.

As the global revolutionary process intensifies, capital flees to the safe haven of gold, abandoning investments, withdrawing from risky financial instruments, cryptocurrencies, China, and anything that smacks of danger or instability. This massive flight of capital from risky investments transforms everything that isn’t a safe haven into speculative bubbles. This is why bubbles are accumulating across the globe, as evidenced by the recent data revealing a speculative bubble surrounding the artificial intelligence (AI) boom .

While Trump rehearses new antics to distract the unwary by talking about an “invasion of Greenland,” we Marxists will take advantage of the revolutionary processes that will intensify amidst the inevitable failure of QE5 to continue rallying cadres, leaders, and militants around Marxism. There is no reformist solution to the crisis, and that is why reformism is dying worldwide. The only way out is revolutionary: the abolition of the capitalist system and its bankrupt global corporations that are collapsing on top of us all, a fall whose collapse the ruling classes, in their desperation, are only accelerating. With this analysis we are presenting, we Marxists are preparing to influence and guide the activism that will inevitably lead the revolutionary processes, so that together with the mobilized millions, we can put an end to capitalism once and for all and establish global socialism.

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Lenin’s leadership was forged in the furnace of a collapsing Tsarist autocracy, a system of feudal-capitalist barbarity that oppressed workers, peasants, and entire nations within the Russian Empire. Lenin’s indispensable contribution was the translation of Marxist theory into a practical revolutionary science for the imperialist epoch. His works, such as What Is To Be Done?, Imperialism, the Highest Stage of Capitalism, and The State and Revolution, provided a ruthless analysis of capitalist monopoly, the role of the state as an instrument of class rule, and the necessity of a vanguard party to raise the consciousness of the proletariat from trade unionism to revolutionary politics. He understood that the peasantry, particularly the poor peasantry, were essential allies in the struggle, and that the “national question” was a pivotal terrain of anti-imperialist solidarity.

The October Revolution of 1917, under the slogan “Peace, Land, and Bread,” was a breathtaking act of popular power. It was the direct seizure of state authority by the Soviets, the councils of workers, soldiers, and peasants, which smashed the bourgeois provisional government that sought to continue a catastrophic imperialist war. As Chairman of the Council of People’s Commissars, Lenin presided over the immediate decreeing of radical measures. These included the redistribution of landed estates to the peasants, worker control over factories, the disestablishment of the church, and the right of nations to self-determination. This was the dictatorship of the proletariat in action, a state form exercising authority in the explicit interest of the exploited majority against the former exploiting classes.

Lenin’s final years, however, was one of unimaginable siege and tragedy. The nascent workers’ state was immediately invaded by fourteen capitalist imperialist armies, including those of the United States, Britain, and France, in alliance with counter-revolutionary White Guard forces. This brutal Civil War, compounded by economic blockade and famine, forced the implementation of “War Communism.” This was a policy of necessary but severe centralisation and grain requisitioning to feed the Red Army. While it saved the revolution militarily, it wrought immense social suffering and eroded the worker-peasant alliance. Recognising this crisis, Lenin engineered the strategic retreat of the New Economic Policy (NEP). This allowed a controlled revival of small-scale trade and agriculture to rebuild the shattered economy, as he insisted it was necessary “to take one step backward in order to take two steps forward later.”

His death created a political vacuum at a moment of profound tension. The revolution was isolated, economically fragile, and administratively strained by the challenges of building socialism in a backward, war-ravaged country. The international revolution, fervently anticipated by Lenin and the Bolsheviks, had receded after failures in Germany and Hungary.  The ensuing struggle, often reductively personalised as a conflict between Stalin and Trotsky, was fundamentally a struggle over the path forward. It centred on the debate between “Socialism in One Country” and “Permanent Revolution.” This was a clash over whether the Soviet state could and must consolidate internally at the potential expense of international revolutionary impetus, or whether its survival was inextricably linked to instigating revolutions abroad. Lenin’s own late writings, his “Testament,” expressed grave concerns about bureaucratisation and the concentration of power, warning of a potential split in the party leadership.

The Fallout of Lenin’s death is inextricable from the history of the 20th century. The subsequent Stalinist consolidation, while overseeing rapid industrialisation and the defeat of Nazism at a colossal human cost, also solidified a model of socialism marked by bureaucratic centralism, the suppression of internal party democracy, and tragic purges. This model, for many, became synonymous with “communism” itself, a distortion with lasting consequences for the global left. It provided ideological fodder for anti-communist propaganda while also creating real contradictions for revolutionary movements worldwide. These movements had to reconcile the inspiring fact of a surviving workers’ state with its often repressive and authoritarian practices.

To remember Lenin is to engage critically and respectfully with a colossal revolutionary legacy. It is to recognise him as the premier strategist of revolutionary seizure of power in the age of imperialism, who demonstrated that the chain of global capitalism could break at its weakest link. It is to uphold his unyielding commitment to internationalism, his theoretical rigour, and his understanding of the state as an instrument to be seized, transformed, and ultimately withered away. Simultaneously, it requires a sober analysis of the contradictions that emerged in the revolution’s defensive isolation, the tragic choices of civil war, and the warnings about bureaucracy he himself issued. His body may have been embalmed and sanctified, but his true legacy is not a dogma to be preserved in a mausoleum. It is a living, critical method of analysis and action. It is the abiding belief that workers and peasants are not destined to be ruled, that imperialism is a parasitic and decadent system, and that collective, organised revolutionary action can shatter the old world and begin the arduous, imperfect, but necessary task of building a new one. The struggle for that world, to which he dedicated his life, continues…

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