Michael Hudson argues that Iran’s resilience is exposing America’s military limits, financial fragility and attempt to postpone an economic reckoning until after the November elections.

The conflict with Iran is not about nuclear weapons. It is a struggle over oil, dollar dominance and whether nations can control their own trade and resources.

Michael Hudson and Richard Wolff argue that the Iran crisis reveals a deeper shift: US military power, dollar dominance and Western control are all weakening.

Michael Hudson and Richard Wolff argue that the struggle over the Strait of Hormuz marks a turning point in the decline of US imperial control. The discussion links Iran, oil, BRICS, development economics and the need for a new international economic order beyond dollar-centred dominance.

Wolff and Hudson on Iran, the Strait of Hormuz, and why no deal with the US is possible — as Western colonialism enters its final, most dangerous phase.

Michael Hudson and Richard Wolff explain how the Iran war has exposed the economic limits of U.S. power, with oil prices, gold flows, Gulf alliances and the Strait of Hormuz turning against Washington.

  https://www.youtube.com/watch?v=vaGPL5Q7Qu8 April 1, 2026 Nima Alkhorshid: Hi everybody. Today is Wednesday, April 1, 2026, and our friend Richard Wolf from San Francisco and Michael Hudson from New York are back with us. Welcome back, Richard and Michael. Michael Hudson: Thank you. Richard Wolff: Glad to be here. Nima Alkhorshid: And let's start, Richard, with you, because we were talking about ...

A war framed as dominance, driven by oil, and escalating into systemic rupture. Hudson and Wolff argue this is not regional conflict but global restructuring, where energy chokepoints, financial weaponisation, and geopolitical blocs collide to reshape the world economy.

Hudson & Wolff examine the war on Iran as more than a regional conflict, arguing that it marks a turning point in the decline of American empire, the breakdown of the old order, and the emergence of a wider struggle over oil, power and global realignment. A WW3?

Explore how U.S. influence shapes Israel’s role in the Middle East conflict, challenging notions of sovereignty in a broader global war involving NATO, Palestine, and BRICS nations like China and Russia.

“I don’t think there were any non-Jewish Americans that had that visceral hatred of Islam that the Zionists had, or also the visceral hatred of Russia, specifically for anti-Semitism of past centuries, most of which was in Ukraine and Kiev, by the way.

Well, that was 50 years ago, and these sanctions that Jackson introduced, the U.S. Trade, became the prototypes for today’s sanctions against all the countries that the neo-cons viewed as adversaries.”