Leaders of the wealthy G7 nations gathered in Germany this week for a summit focused on

isolating Russia from the world economy.

The summit discussed attempts to impose a price cap on Russian oil exports and a prohibition

on trading Russian gold, but is this sanctions regime backfiring on the West?

We need a new system.

We need a new society.

We need to demand that which may have sounded impossible even a few weeks ago, but is not only realizable, but an imperative necessity. We're very excited to have Professor Richard Wolfe join us for a regular weekly segment

where we discuss the biggest stories relating to the economy, the state of the working class,

and the crimes of big business. I'm Walter Smolerick, filling in for Brian Becker.

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if you enjoy listening to the show. Richard Wolfe is the co-founder of the organization

Democracy at Work and the author of many

books, the latest being The Sickness is the System when Capitalism fails to Save Us

from Pandemics or itself.

You can check out that and all of his work at r.d.wulf.com.

So Professor Wolfe, the G7 leaders, heads of state gathered in Bavaria, in Germany.

Sanctions on Russia was clearly at the top of the agenda. There's two sort of concrete things coming

out of it, maybe more if you want to identify additional ones, but just to start us off, the G7

leaders agreed to ban trading in Russian gold. And the G7 leaders were also discussing something

that's being picked up a lot in the corporate media and discussed in the corporate media,

...