International Viewpoint - online socialist magazine

• USA

  May Day in America, is it now here to stay?

  4 May, by Dan La Botz

  May Day is not a holiday in the United States. In most states and cities, it is not celebrated. In some places, in schools or public parks, people put up a May pole and dance around it to celebrate the arrival of spring. We did that in my elementary school in Chicago when I was a child. The official Labor Day in the United States, which is a national holiday, is celebrated on the first Monday in September and marks the end of summer and students’ return to school. But maybe this year things finally changed.

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• Nigeria

  Nigeria: against oil industry impunity

  3 May, by Paul Martial

  The Niger Delta has been totally devastated by decades of oil exploitation in Nigeria by the major Western oil companies. Huge tracts of land and mangrove swamps have been totally contaminated by oil, destroying all living things. People’s livelihoods, such as fishing and farming, have been wiped out. There is no longer any drinking water, and the air is polluted by the dozens of flares that burn continuously.

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• Mexico

  Mexico: “The right-wing parties are practically in the worst phase of their history”

  2 May, by Fabrice Thomas, José Luis

  José Luis is an activist in the Fourth International and a member of the Mexican electricians’ union. He spoke to Fabrice Thomas while visiting Europe for the world congress of the Fourth International.

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• Zambia

  Zambia: people are victims of extractivism

  1 May, by Paul Martial

  Despite recurring environmental disasters and the dangers to the population, the government of Zambia continues its extractivist policy. The southern African country has once again been hit by major pollution. 50 million tonnes of acidic sludge were discharged into the watercourse running alongside the Chinese company Sino Metals in Chambishi, which processes copper ores.

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• USA

  Trump and America: One-hundred days in the waiting room of fascism

  30 April, by Dan La Botz

  Since taking office 100 days ago, President Donald Trump has been engaged in destroying America’s liberal, democratic state and its social welfare systems, taking away citizens’ and non-citizens’ rights, and attacking the institutions of civil society such as universities and the media. Trump’s attack on our government and our society has shocked, disoriented, and disconcerted the American people. The resistance has been growing, but is still too divided, small, and weak to stop Trump

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...and the rest of the current issue

• Argentina

  Argentina: opposition to Milei revives

• Greece

  Greece: anger in the streets

• USA

  Trump reinvents war capitalism

• Palestine

  We need to talk about Gaza more than ever

• Sudan

  The Other Catastrophe: Genocide and Famine in Sudan

Recently posted Features

• Series: The banks and the “Too Big to Jail” doctrine (Part 7)

  The Big Banks Organise Massive Tax Evasion on an International Scale

  31 August 2014, by Éric Toussaint

  Another example of the “Too Big to Jail” doctrine: International tax evasion and fraud organised by UBS, Switzerland’s biggest bank.
  UBS, which had to be saved from failure in October 2008 by massive injections of Swiss public money, was involved in the LIBOR manipulation scandal, the currency markets manipulation scandal (UBS is the subject of several inquiries by controlling authorities in Hong Kong, US, the UK, and in Switzerland) and the abusive sale of structured Mortgage-Backed (…)

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• Series : The banks and the “too big to jail” doctrine (Part 5)

  Big banks’ tampering with interest rates

  31 August 2014, by Éric Toussaint

  The extremely tolerant approach to the manipulation of interest rates by the governments of the main industrialised countries shows the extent to which the ’Too Big to Jail’ principle is applied. In 2010 the media revealed that a group of eighteen banks had been manipulating the London Interbank Offered Rate (LIBOR) from 2005 to 2010. LIBOR is a benchmark rate used for a market of $350 trillion, in assets and financial derivatives, which means it is the second most important benchmark rate in the world after the dollar exchange rate. The rate is based on information provided by eighteen banks about their funding costs in interbank markets. In 2012 evidence was provided of collusion among big banks such as UBS, Barclays, Rabobank, or Royal Bank of Scotland in order to manipulate LIBOR in their own interests.

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• Series : The banks and the “too big to jail” doctrine (Part 4)

  HSBC: the bank with a shameful past and scandalous present

  31 August 2014, by Éric Toussaint

  The British bank HSBC (Hong Kong and Shanghai Banking Corporation) employs 260, 000 people, has offices in 75 countries, and 54 million customers. [1]
  From its earliest days, it has been involved in the international narcotics trade. It was founded in the wake of the British victories in the Opium Wars (1839-1842 and 1856-1860) against China. These two wars were very important to the strengthening of the British Empire and the century and a half waning of China. Through the Opium Wars, the British Empire forced China to accept opium importations coming from British India. China tried to oppose this commerce, but British arms, backed by Washington, proved stronger. London established a colony in Hong Kong in 1865, where HSBC was created by a Scottish merchant specializing in the opium trade— the basis of 70% of Hong Kong trade with the Indies.

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• Series: The banks and the “too big to jail” doctrine (Part 3)

  Drug and Bank Lords

  30 August 2014, by Éric Toussaint

  The British bank HSBC, which employs 260, 000 people worldwide, is present in 75 countries, and claims to have 54 million customers [2] is another example of the “Too Big to Jail” phenomenon. [3] Over the last ten years, HSBC has laundered $881 million [4] for Mexican and Columbian drug cartels that are responsible for tens of thousands of firearm related assassinations. These relations continue in spite of dozens of warnings from different US government agencies including the Office of the Comptroller of the Currency. The profits from this business are so important that not only does HSBC continue, but it has also opened specialized services in its Mexico offices where drug dealers may simply hand in stocks of cash for cleaning. [5]

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