October 8, 2025

Gaza

2 years of the Gaza genocide: A crime of Zionism and imperialism

By WSWS Editorial Board.

This Perspective was published in the World Socialist Website Site on 06 October 2025.

Today marks two years since the beginning of Israel’s genocide in Gaza, one of the greatest crimes of the modern era. Before the eyes of the entire world, the Israeli government—armed, financed and defended by every imperialist power—has carried out a campaign of mass murder, ethnic cleansing and deliberate starvation. At least 67,000 Palestinians have been killed, including 20,000 children, and the entire population has been repeatedly displaced.

Gaza
Displaced Palestinians fleeing northern Gaza carry their belongings along the coastal road toward southern Gaza, Tuesday, Sept. 9, 2025, after the Israeli army issued evacuation orders from Gaza City. [AP Photo/Jehad Alshrafi]

In order to launch this long planned genocide, Israel used as its pretext the Hamas attacks of October 7, 2023, in which a few thousand fighters with small arms, possessing no armored vehicles or aircraft, breached the Israeli border without resistance. To claim that Israel, with one of the most sophisticated intelligence networks in the world, was taken completely by surprise by a few thousand Hamas fighters is a despicable fiction.

As the events of the past two years have shown—in Israel’s assassinations of foreign leaders, military officers and scientists—Israeli intelligence has penetrated every state and movement in the region. Indeed, within months of the October 7 attacks, newspaper accounts revealed that Israel possessed the entire Hamas battle plan but orchestrated a deliberate stand-down of its troops stationed on the border.

The genocide that followed was the premeditated outcome of 75 years of brutal oppression, the implementation of the “final solution” to the Palestinian “problem.” It has exposed before the entire world the bankrupt and reactionary character of Zionism. The Israeli state has shown itself to be a murderous instrument of imperialism.

While carried out by Israel, the genocide has been a joint operation of world imperialism. Every imperialist government, from Washington to London, Paris and Berlin, together with the entire media, justified the Israeli assault on Gaza. A hideous double standard was adopted, in which any act of mass murder by Israel, which illegally occupies Gaza, was justified, while any effort at resistance by the Palestinians was demonized as “terrorism.”

Opposition to the Israeli state was slandered as “antisemitism,” in an exercise that the WSWS referred to as “semantic inversion,” in which “a word is utilized in a manner and within a context that is the exact opposite of its real and long-accepted meaning.” This became the framework for a brutal and escalating assault on democratic rights, in which opposition to genocide has been criminalized. The attempt to equate opposition to the genocide with hatred of the Jews, is, in any case, negated by the prominent role played by Jewish people around the world in mass demonstrations. 

The United States has been Israel’s key weapons supplier, funneling unlimited amounts of deadly military gear to fuel the slaughter. But Germany, France, Britain and others have all contributed their share to the bloodbath. Moreover, they have all purchased billions in Israeli government bonds to help finance the murderous military machine they also armed.

Underscoring the fact that these crimes have been facilitated by the major North American and European powers, Israeli Prime Minister Benjamin Netanyahu was allowed to defend his actions from the podium of the United Nations last month, even though an arrest warrant against him for war crimes is outstanding.

The imperialists back the genocide as a central component of their drive to secure control over the oil-rich Middle East, part of a global eruption of imperialist war targeting Russia and China. Their support for the genocide has demonstrated that they are ready to deploy any and all means to secure for themselves access to markets, raw materials, labour and geostrategic influence.

This imperialist plunder has culminated in Trump’s “peace” plan, which proposes robbing Palestinians of all their rights by creating a neo-colonial protectorate under the control of America’s would-be Führer and his bagman, the unindicted war criminal Tony Blair. If Hamas follows Trump’s demand to accept this arrangement, the Palestinians will be expelled to make way for a US-controlled trade corridor through the Middle East. If they refuse, Israel will get the green light to slaughter the remaining Palestinians en masse.

A particularly foul role in this process has been played by the bourgeois nationalist regimes of the Middle East. The entire history of the 20th century has shown the incapacity of any form of nationalism to secure the democratic and social rights of the working class. The despicable role of these governments culminated in their embrace of the “peace” plan promoted by Trump, which completely repudiates the right of the Palestinian people to self-determination.

The genocide in Gaza has provoked mass revulsion and opposition throughout the world. Over the past two years, tens of millions have participated in demonstrations spanning every continent, from Europe and the Americas to the Middle East, Africa and Asia. Trump’s plan to turn the Middle East into a US fiefdom on the bones of the Palestinians, and Israel’s violent seizure of the Sumud aid flotilla, have ignited a new and broader wave of protest.

In recent days, millions have filled the streets of Italy, Spain, the Netherlands, India, Pakistan, Malaysia, Colombia and Argentina. In Italy, action initiated by dockworkers, who refused to load weapons for Israel, triggered a one-day general strike of more than 2 million workers and a million-strong march in Rome. Though still limited by the trade union bureaucracies and appeals to the Meloni government, these actions point to the immense potential power of the international working class to halt the genocide.

One day of coordinated strike action has shaken Trump’s closest European ally. An organized, global industrial and political movement of the working class could stop the imperialist war machine in its tracks. Nothing less than a mass, international movement of workers can end the genocide and block the extension of American imperialism’s drive for domination—from Gaza to a wider war aimed at Iran, Russia and ultimately China.

The development of opposition to the genocide must be guided by an understanding of the political lessons of the past two years. The central lesson is the total bankruptcy of all appeals to governments of the imperialist powers. They are not the instruments for halting genocide but its perpetrators and enablers.

The perspective of a two-state solution has failed. Only the unification of all the peoples of the Middle East can lead to a viable future. The Israeli state has proven to be a historical monstrosity, resulting in demoralization and degradation. The Israeli working class must repudiate the poisonous ideology and politics of Zionism, reject the reactionary dystopia of the “Jewish state” and strive for the unity of Israeli and Palestinian workers in the struggle for the United Socialist Federation of the Middle East.

In a lecture delivered on October 24, 2023, three weeks after the beginning of the genocide, WSWS International Editorial Board Chairman David North explained:

In the final analysis, the liberation of the Palestinian people can be achieved only through a unified struggle of the working class, Arab and Jewish, against the Zionist regime, as well as the treacherous Arab and Iranian capitalist regimes, and their replacement with a union of socialist republics throughout the Middle East and, indeed, the entire world.

This is a gigantic task. But it is the only perspective that is based on a correct appraisal of the present stage of world history, the contradictions and crisis of world capitalism and the dynamic of the international class struggle. The wars in Gaza and Ukraine are tragic demonstrations of the catastrophic role and consequences of national programs in a historical epoch whose essential and defining characteristics are the primacy of world economy, the globally integrated character of the productive forces of capitalism, and, therefore, the necessity to base the struggle of the working class on an international strategy.

Two years later, there are growing signs of a global resurgence of working class struggle. The Trump administration’s drive to establish a presidential dictatorship is bringing it into head-on conflict with the working class in the United States, despite all efforts by the Democrats to sow complacency and passivity. President Macron in France is unable to form a stable government, amid mass opposition to his demands for austerity to pay for remilitarisation. Starmer in the UK and Merz in Germany have no popular support whatsoever.

Internationally, there has been an explosion of popular anti-government struggles, led by “Generation Z”—in Kenya, Nepal, Indonesia, the Philippines, Morocco and Madagascar.

The development of this opposition along revolutionary lines requires that workers break free from the control of the social democratic, Stalinist and trade union bureaucracies, along with their pseudo-left defenders, who work to contain and dissipate opposition. This requires building new, democratic organizations of class struggle—rank-and-file committees in every workplace and neighborhood—to coordinate and lead a unified international offensive of the working class.

Workers, students, youth and all opponents of Zionism and imperialism must fight for:

  • An immediate halt to all weapons shipments to Israel;
  • A comprehensive boycott of all trade and other economic activity with Israel;
  • The prosecution of all US, European and other corporations assisting Israel in carrying out the genocide.
  • The arrest of Israeli officials for war crimes;
  • An end to state repression of anti-genocide protesters and the repeal of all anti-demonstration laws;
  • Immediate, unhindered delivery of humanitarian aid to Gaza by all available routes.

These demands must spearhead the broader movement already developing in the working class internationally. The same governments that funnel weapons of death to Israel are erecting dictatorial forms of rule at home to suppress opposition to oligarchic rule, mass impoverishment and the drive to world war.

The genocide in Gaza has laid bare the historical dead end of the capitalist system itself. The “normalization” of genocide is the product of a system that has exhausted any progressive role. It is accompanied by the normalization of fascism, the normalization of military-police dictatorship, the normalization of world war and oligarchic rule.

The perspective that must guide the working class is Trotsky’s theory of Permanent Revolution. The democratic and social aspirations of the oppressed can be achieved only through the independent political mobilization of the working class, on a world scale, for the conquest of power.

The critical task is the building of a new revolutionary leadership to guide this struggle. The International Committee of the Fourth International (ICFI) and its sections, the Socialist Equality Parties, fight to unite workers and youth across all borders in a single movement against capitalism, for the establishment of workers’ governments and the socialist reorganization of the world economy to meet human need, not private profit.

2 years of the Gaza genocide: A crime of Zionism and imperialism Read More »

Gold price surge continues, passing the $4,000 mark

By Nick Beams.

This article was originally published in the World Socialist Website on 08 October 2025.

After hitting record highs throughout this year, the price of gold continues to surge and has now passed $4,000 an ounce, taking its rise this year to more than 50 percent after a 12 percent increase for September alone.

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Gold bars are shown stacked in a vault at the United States Mint on July 22, 2014 in West Point, New York [AP Photo/Mike Groll]

The gold price surge is a sign of growing uncertainty and doubts over the stability of the international monetary system based on the US dollar as the global currency. As a Wall Street Journal article noted, the gold price “has surged this year more than it did during some of America’s biggest crises” including the 2007–2009 recession and the onset of the pandemic.

Back in June, as the gold surge was accelerating and it had become the second-largest reserve asset held by central banks after the dollar, surpassing the euro, an article in the Financial Times (FT) described it as the “world’s refuge from uncertainty” and pointed to the broader implications of its rise.

Bullion, it said, had “made a roaring comeback, not just among speculators and so-called gold bugs who mistrust paper currencies, but even among the most conservative investors in the world” and that “in a febrile political era, when many of the core assumptions about the global economy are being questioned, gold has once more become an anchor.”

In the four months since these lines were written all the processes it identified have intensified.

The key “core assumption,” not only being questioned but increasingly eroded, is the capacity of the US state and its financial institutions to provide a stable foundation for the international monetary order based on the US dollar as a fiat currency after US president Nixon removed its gold backing in August 1971.

While this process has accelerated under the second Trump presidency it was already well underway before he arrived on the scene.

It has been fueled by the ongoing crises in the US financial system, expressed most sharply in the financial crisis of 2008 and the freezing of the US Treasury market in March 2020 when, for a number of days, no buyers could be found for US government debt, supposedly the safest financial asset in the world.

A central factor in the latest gold surge has been the escalation of US government debt. It now stands at more than $37 trillion. For more than a decade the rise in debt—used to finance wars, tax cuts to the wealthy and corporations as well as government bailouts—was able to proceed almost unnoticed because of the ultra-low interest rates maintained by the Fed.

But after the rate rises started in 2022, the interest bill has become an increasing drain on government finances, such that it has risen to almost $1 trillion annually and is set to become the biggest item in the US budget, surpassing even military outlays.

This has meant that the global monetary system is based on the currency of the most indebted country in the world, whose credit rating has been downgraded by all the three major rating agencies and which needs to borrow money just to pay the interest bill on past debts.

The policies of the Trump administration are working to exacerbate these underlying tensions within the global financial system.

A major blow came with the so-called “reciprocal tariffs” of April 2, through which the Trump regime upended what had remained of the post-war international trading order. The “liberation day” measures led to a spike in Treasury yields combined with a fall in the value of the dollar—a rare occurrence.

Since then, in the trade “deal” with Japan and the proposals of the Trump regime for South Korea, the tariffs have been revealed as the mechanism for standover demands by the US for the investment of hundreds of billions of dollars in the US under the direct control of the administration.

As part of his drive to establish a personalist dictatorship, combined with the moves to establish martial law in major US cities, Trump has moved to try to take direct control of the Fed. This has sparked concerns that its political independence will be effectively ended, sparking concerns in international markets about financial stability leading to an increasing turn to gold as a safe haven.

And the latest surge has been spurred on by the US government shutdown initiated by Trump as part of a drive to sack hundreds of thousands of government employees and axe whole departments.

As Mark Sobel, a former US Treasury official and now the US chair of the think-tank OMFIF told the FT back in June: “Gold’s rise in part reflects the administration’s undermining of the properties underpinning dollar dominance.”

Sobel said that attacking institutions such as the Fed and the courts while “threatening to add massively to debt and deficits through the ‘big, beautiful bill,’ and being an unreliable partner to our allies and partners” had all undercut the dollar’s status.

Others have gone further in their analysis, describing the shift into gold as a move “back to the future.” As the latest surge was getting underway in the middle of the year, Randy Smallwood, chief executive of a precious metals company, told the FT: “It wouldn’t surprise me if, in 20 years, when you take an economics course, there will be a discussion about the 60-year experiment from 1970 to 2030 on fiat currencies, and how it failed.”

In an earlier period, such comments might have been dismissed simply as the outlook of “gold bugs.” Not so today.

Even before the latest actions by Trump, central banks had begun to move. In each of the past three years, they have bought more than 1,000 tonnes of gold, hitting record levels. The bulk of the purchases have been by countries not closely aligned with the US such as China, India, and Turkey. But the rise of gold to be the second-largest reserve asset is an indication that other central banks are heading in the same direction.

The shift is extending to the private sector with the move by investors into gold-backed exchange-traded funds (ETFs). The World Gold Council has reported that $13.6 billion flowed into these funds in September, bringing the total so far this year to $60 billion—a record.

The significance of this shift is reflected in an analysis by Morgan Stanley. The traditional benchmark for investor allocations is 60 percent of funds in equities with 40 percent in bonds. But it suggested that the split should be 60/20/20. That is, gold should have an equal weight with bonds.

Significantly, such is the uncertainty around the financial position and indebtedness of all the major economies—the debt-induced turmoil in France is a case in point—that the move out of the dollar is being accompanied by growing uncertainty about other currencies. As one analyst at a metals trading firm told the FT: “People are looking to short the dollar, but they are not quite sure what currency to purchase—that uncertainty leads you straight to gold.”

And while the gold issue may appear to be simply a market phenomenon—investors trying to capitalize on the surge, others seeking a hedge in times of uncertainty, on top of the concerns of central banks, it goes deeper than that.

The entire fiat monetary system that has prevailed for the past 50 years and more—the foundation for the functioning of the global capitalist order—is starting to unravel, and that will have major economic, financial and political consequences.

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