The Socialist Program with Brian Becker How US Capitalism Uses the Banking System to Coerce the Rest of the World
Feb 11, 2026
Richard Wolff, economist and co-founder of Democracy at Work, offers a sharp analysis of how U.S. banking power and sanctions coerce other nations. He traces the shift from partnership to punitive statecraft. He explores tariffs, frozen assets, China’s rise, and the growing risks as global institutions fray.
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Dollar Hegemony Enables Economic Coercion
- The U.S. uses dollar hegemony and financial controls to coerce other countries through sanctions and banking tools.
- Richard Wolff argues this converts prior unequal partnerships into tributary demands backed by economic weapons.
Cuba's Hospitals Darkened By Sanctions
- Cuba faces fuel shortages and hospital energy outages due to U.S. sanctions hitting its supply chains.
- Wolff contrasts Cuba's strong medical system being undermined by external financial pressure.
Sanctions Are Demands For Tribute
- Sanctions and tariffs function as demands for tribute rather than voluntary unequal exchanges between states.
- Wolff highlights examples where trade and investment ties are being converted into coercive leverage by the U.S.
