Hands Off

Scan page 12

Anniversary The threat by the Iranian regime to place the 49 US Embassy hostages on trial as "spies" has prompted Carter to warn of a military intervention should any of them be harmed.

But the political blow to US imperialism from such a trial would flow not so much from the exposure of the real activities conducted behind the reinforced doors of American embassies around the world.

Rather it would arise from the apparent ability of a nationalist regime in a former impèrialist outpost to stick up two fingers to the imperialist warmongers with impunity.

Damaging

At a time when revolutionary struggles are simmering throughout Central and Latin America such a development would further damage the ability of US imperialism to maintain its dominance and exploitation.

But at the same time the economic war between the Iranian regime and US capitalism has escalated, with potentially even more damaging results.

On Wednesday, after the Iranian regime failed to make a regular interest payment, a consortium of major Western banks, headed by Chase Manhattan, declared the regime to be in default on a $500 million loan, raised in 1977 under the Shah, and began proceedings that would effectively call in the loan.

And it was met by a sharp response from the Khomeini regime.

Finance Minister® Hassan Bani Sadr. (who doubles up as minister for foreign affairs) declared on Friday that Iran would refuse to pay outstanding foreign debts.

• Though there was initially some doubt as to the authenticity of this statement, Bani Sadr's position has since been amplified by Khomeini himself, who on Monday called for a "holy war" on all fronts against the United States.

The last two weeks have therefore brought a series of events that contain all the seeds of a major financial catastrophe for world capitalism:

#The : Iranian regime, attempting to withdraw its deposits from US banks, has had them unilaterally "frozen'-lie stolen)-by the Carter administration. This could well lead to other governments deciding to pull out their holdings from the USA in case they, too, forfeit them in a future dispute with US imperialism.

*In retaliation, Iran has now refused to accept dollars as payment for shipments of oil. The consequent drop in demand for the dollar threatens a new slump in its price, as oil importers swap their dollar holdings for a selection of other currencies.

Solid currencies

And a further fall in the dollar could persuade other oil exporting countries to opt for more solid currencies, too. by the US mass media and the Western press the ground is being laid for an onslaught on a nation that refuses tamely to carry the yoke of imperialism.

Should this be the event, socialists in the USA and Britain would need to be in the forefront of the struggle for action to defeat the imperialist war moves and defend the Iranian people from external aggression.

The task of ousting Khomeini's bigoted islamic regime and installing a workers and peasants government in Iran is one to be tackled under the leadership of the courageous Iranian proletariat.

FOr this task a conscious, Trotskyist party must be built in Iran.

NOW AVAILABLE International Discussion Bulletin towards the reconstruction of the Fourth International 75p including p&p from WSL 31 DartmouthPark Hill, London NWS IHR 100 YEARS SINCE BIR FIVE YEARS SINCE WS New Ambassadors Hotel Upper Woburn Place London WC1 Speakers from WSL Executive Committee, pl 1s film. Tickets £1.00 £1.50 at door.

SATURDAY DECEMBER 8 2 p.m. to 6 p.m.

----- pull-quotes -----

League Rally