China Tells Trump It’s “GAME OVER” For U.S. Economic Sanctions!

The Jimmy Dore Show

In a surprise move, China has activated its 2021 blocking statute for the first time, ordering all Chinese firms and individuals not to comply with US sanctions on five Chinese oil refineries accused of buying Iranian crude, declaring that the US sanctions "shall not be recognized, shall not be enforced, and shall not be complied with.” China reportedly took this action in direct retaliation for the US ramping up enforcement under "Operation Economic Fury."

Jimmy Dore notes that this is the "financial equivalent" of China pushing back against US extraterritorial sanctions, putting global banks in a "no-win" position where complying with US sanctions risks violating Chinese law and vice versa, and potentially leading to a "direct financial confrontation between the two largest economies on Earth." He argues that this Iran war "could not be going worse" for the United States because Russia has already announced it will sell oil in Chinese yuan, not dollars, and China's move signals that US sanctions are no longer "game over" as the petrodollar system and American financial hegemony rapidly disintegrate.

He and Americans’ Comedian Kurt Metzger conclude that the only way out is not through voting but by a general strike of railroad workers, port workers, and truckers with a single demand: "all money out of politics, public financing of elections,” even as he acknowledges that a worker uprising of this sort is "super hard to do" and unlikely to happen.

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