Geopolitical Economy Report

In response to the US-Israeli war, Iran shut down the Strait of Hormuz, the most important oil chokepoint on Earth, causing energy prices to skyrocket. However, Tehran is allowing Chinese tankers through, and says other ships can pass if they agree to sell oil in China's currency, the renminbi (aka yuan).

Iran is also targeting offices of major American corporations, and wants to force them out of the Middle East (West Asia), while trying to expel US military bases.

Ben Norton explains how this war affects the petrodollar system, and the dominance of the dollar as the global reserve currency.

VIDEO: https://www.youtube.com/watch?v=X2zBWcGahuc

Topics
0:00 Iran war causes energy crisis
0:29 Oil price skyrockets
0:56 Fears of economic crisis
2:07 Strait of Hormuz
3:21 Iran permits Chinese oil tankers
4:17 Iran says: sell oil in RMB, not USD
4:43 Dollar dominance & petrodollar
6:28 Asymmetric warfare
6:59 US military bases in Middle East
7:47 Iran strikes CIA stations
8:46 Iran hits US refueling planes
9:10 US empire underestimated Iran
10:32 Iran targets US corporations
12:03 Economic warfare
13:07 (CLIP) Scott Bessent on sanctions
14:05 New leader Mojtaba Khamenei
15:21 Iran strategy spelled out
17:08 Tehran wants revenge
18:51 Yemen, Red Sea, Bab al-Mandab
22:16 US war on Yemen in 2025
23:23 Anti-colonial wars
24:16 Trump sends more US troops
25:21 Iran's Kharg Island
26:21 Global energy crisis
27:24 Trump wants military coalition
29:02 Iran allows Chinese ships
29:59 US dollar dominance
30:37 US current account deficit
31:20 Exorbitant privilege of dollar
32:19 Dedollarization
32:52 West seized Russia's reserves
33:49 Central banks buy gold
34:16 US Treasury securities
34:47 Oil sales in dollars
36:26 Trump threatened BRICS
37:16 Iran promotes dedollarization
37:42 China & Russia de-dollarize
38:33 India
39:34 UAE
40:18 Saudi Arabia
41:04 Iran & Indonesia join BRICS
42:14 Iran proposes BRICS currency
42:31 Divisions within BRICS
43:12 Struggle against imperialism
45:12 Outro

Why is the USA waging war on Iran? It's not just because of Israel. Washington wants to control the oil of the Middle East (West Asia) to maintain the petrodollar system. The Trump admin fears the dedollarization movement's challenge to the global reserve currency, which is the US empire's most powerful tool. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=zcXrvKVsPV8

Topics
0:00 Iran war, US & Israel
0:32 World War I analogy
1:47 Middle East wars
2:56 Oil reserves
3:51 (CLIP) Trump wants Venezuela's oil
4:14 Oil blockade of Cuba
4:59 Strait of Hormuz
5:40 Trump admin targets Iran's oil
6:06 (CLIP) US wants "to get all of the oil"
6:30 USA is top oil producer
7:11 Dollar as global reserve currency
7:55 Sanctions and financial system
9:00 Dedollarization
9:50 (CLIP) Trump fears dedollarization
10:07 Iran joins BRICS
10:22 Iran promotes dedollarization
11:08 Resistance groups
11:38 Petrodollar system
13:14 US oil deal with Saudi Arabia
15:06 Oil is (mostly) sold in US dollars
16:38 China buys Iranian oil with yuan
17:05 Venezuela sold oil in renminbi
17:26 Petrodollar and Venezuela
18:19 Trump official: Iran war for oil
19:44 USA targets China
20:44 Exorbitant privilege of US dollar
22:26 Commodities priced in USD
23:19 Financial elites benefit
24:17 US stock market: 60% of world
24:54 Global elites hold US assets
26:57 Gold standard to oil standard
28:11 Richest 10% hold 90% of stocks
28:43 Dedollarization grows
29:21 Rise of China (and India)
30:01 China buys oil with yuan
31:20 Iraq sold oil for euro, not USD
32:19 USA controls Iraq's oil revenues
33:30 Venezuela's oil revenues
34:19 Trump fears de-dollarization
35:00 UAE sells China LNG in RMB
36:01 Saudi Arabia considers yuan
36:51 Saudi BRICS invitation
37:15 UAE joined BRICS
37:44 War among BRICS members
38:29 US provokes Saudi-Iran conflict
39:10 China brokers Saudi-Iran deal
39:39 Petrodollar war
40:52 Israel and lobbying
43:34 Israel: US aircraft carrier
44:20 (CLIP) Biden: Israel "investment"
44:36 Israel and petrodollar
45:11 The tail does not wag the dog
46:05 Suez crisis of 1956
47:28 Origins of US-Saudi alliance
48:30 US-Israel alliance is recent
49:58 Bigger picture of US imperialism
51:55 Outro

After the US and Israel attacked Iran, Tehran's strategy of asymmetric warfare is clear: it closed the Strait of Hormuz and is attacking energy infrastructure in the Persian Gulf, causing global oil and natural gas prices to skyrocket, crashing stock markets, fueling inflation, and provoking an economic crisis that will hurt the USA and its allies.

The conflict has also become a battle of attrition. Iran is using cheap missiles and drones to deplete the defense interceptors of neighboring countries, which will be very difficult to replace, due to deindustrialization, despite Trump administration efforts to boost production.

Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=yAc9mgZrE6E

Topics
0:00 Iran conflict becomes war of attrition
1:10 US strategy: "punch them while they're down"
1:45 US military vs Iranian military
2:25 Asymmetric warfare
3:30 Decentralized mosaic defense doctrine
4:13 Guerrilla economic warfare
5:08 Oil price skyrockets to over $100
5:30 Strait of Hormuz closed
6:00 Energy infrastructure hit in Persian Gulf
7:19 Economic crisis on horizon
7:54 Trump: it's a "small price to pay"
8:46 Inflation fuels inequality
9:47 US midterm election coming soon
10:46 Donald Trump's approval rating
11:08 Fertilizer supply chain breakdown
11:28 Food price shock
12:33 Dubai airport shut down
12:54 Gulf monarchy reputation crisis
14:06 Iranian drones vs expensive missiles
15:15 Iran's Shahed 136 drone
16:56 Missile math in asymmetric war
18:47 Military-industrial complex profits
19:24 Gulf runs out of interceptor missiles
20:29 USA prioritizes Israel over GCC
23:26 What does victory look like?
25:25 US allies need more munitions
26:25 Deindustrialization
28:08 Trump meets with weapons CEOs
29:16 Corruption in Pentagon
30:49 Wall Street wins
31:45 US empire underestimates rivals
32:28 Iran destroys radar system
33:07 Iran hits energy infrastructure
33:32 Hotels hosting US military officials
34:54 US military uses civilian ports
36:10 Gulf monarchies are not neutral
37:08 Top oil producers, by country
37:35 Top oil exporters, by country
38:24 Top natural gas producers
38:39 Top LNG exporters
39:11 Strait of Hormuz alternatives
40:10 Saudi alternative oil pipeline
41:11 Iraq and Kurdish fighters
42:31 Insurance companies avoid region
43:13 Trump Hormuz US Navy proposal
44:15 China in talks with Iran
44:58 Asia imports most Gulf energy
45:38 China stockpiles commodities
47:58 China renewable energy strategy
49:23 India wants Russian oil
49:57 India's ties with USA & Israel
51:39 South Korea hurt by oil crisis
52:12 Europe faces new inflation shock
52:39 EU wants Russian oil
53:17 Ukraine backs Gulf dictatorships
54:08 Geopolitical reality
54:53 Gulf monarchy propaganda
56:00 Foreign nationals in GCC countries
56:34 Migrant workers in Persian Gulf
58:32 Asymmetric warfare results
59:59 End of "strategic patience" doctrine
1:00:55 Supreme leader Mojtaba Khamenei
1:01:57 Nuclear weapons
1:03:29 Clear losers of Iran war
1:04:42 Outro

The US and Israel are bombing schools and hospitals in Iran. This is not an accident. War Secretary Pete Hegseth admitted they want to unleash as much "death and destruction" as possible. Their goal is total collapse of Iran's state and society. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=4dAY9J6aAr0

Topics
0:00 (CLIP) US secretary of war on Iran
0:27 Schools & hospitals bombed in Iran
2:14 US-Israeli war violates international law
3:45 Iran was NOT preparing to attack USA
4:30 (CLIP) IAEA chief on nuclear weapons
4:53 Trump admin boasts of "unfair fight"
5:22 (CLIP) "Punching them while they're down"
5:49 Sadistic rhetoric
6:18 (CLIP) "Death and destruction... all day"
6:49 Operation Epic Epstein Fury
7:39 (CLIP) Comparing Iran to Iraq invasion
8:09 Pete Hegseth, extremist "crusader"
9:09 US military promotes "holy war"
9:42 Anti-woke? Pro-war crimes
10:47 (CLIP) Hegseth promotes war crimes
11:40 US torpedoes Iranian ship near India
12:32 The cruelty is the point
13:12 What is goal of USA & Israel?
13:43 Ali Khamenei
14:10 "Decapitation" of Iranian leaders
15:45 USA & Israel want state collapse
16:57 Israeli admits: it seeks chaos
19:48 Imperialist war of extermination
20:47 Outro

After launching a war of aggression against Iran, Trump and Netanyahu are attacking more countries. Israel invaded Lebanon and besieged Gaza. US soldiers are fighting in Ecuador and shooting Pakistani protesters. Trump even threatened an embargo on Spain, demanding to use its military bases. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=o3mU2qgYUcE

Check out our related video - The US-Israeli war on Iran is based on lies: https://www.youtube.com/watch?v=R_xGgeV_9rw

Topics
0:00 US-Israeli war on Iran expands
0:36 Iran hits US bases in Middle East
0:54 Oil price & Strait of Hormuz
1:24 US State Dep't orders evacuations
1:59 CIA plans to arm Kurdish militants
4:02 Trump vowed to end wars
4:22 Israel invades Lebanon
5:06 Israel besieges Gaza
5:31 USA shoots Pakistani protesters
5:49 US troops fight in Ecuador
6:31 US oil blockade of Cuba
7:23 Many wars happening at once
8:16 Trump, the "peace president"
8:29 (CLIP) Trump promised peace
8:43 Trump's "Board of Peace"
9:04 Trump has bombed 10 countries
10:15 Trump attacks Spain
10:39 Spain opposes war on Iran
11:21 Trump wants embargo of Spain
12:33 (CLIP) Trump threatens Spain
13:56 Trump floats invading Spain
14:48 NATO military spending 5% of GDP
15:33 Spain supports Palestine
17:04 Spain moves closer to China
18:08 Germany backs US attack on Spain
19:20 (CLIP) Germany condemns Spain
20:06 Myth of European solidarity
20:40 Friedrich Merz, BlackRock boy
21:34 Kissinger on US "friends"
22:03 France admits war is illegal
23:12 Germany, France, UK join war
23:56 European vassals of US empire
24:27 (CLIP) Trump criticizes UK
24:39 UK lets US use its military bases
25:20 (CLIP) Mark Rutte: Trump is "daddy"
25:52 Canada's hypocritical position
28:16 Iran wanted negotiations
29:45 Outro