The Continuum

By Rejil

Welcome to the Continuum! Here we look at what is happening now and how it connects to history. rejil.substack.com

  1. 6d ago

    When a State Refused to Return Escaped Slaves: Ableman V Booth

    In 1854, thousands of people stormed a federal jail in Milwaukee to free an escaped slave. What followed became one of the most explosive constitutional battles in American history. This video tells the story of Joshua Glover, Sherman Booth, the Wisconsin Supreme Court, and the legal war that brought a state government into direct conflict with the United States Supreme Court years before the Civil War. It begins on the night of March 11, 1854, when abolitionist Sherman Booth rode through Milwaukee shouting “Freemen! To the rescue!” Within hours, a massive crowd broke escaped slave Joshua Glover out of federal custody and helped him escape to Canada. Three days later, Booth himself was arrested. But this was bigger than one rescue. The Fugitive Slave Act of 1850 forced free states to help capture escaped slaves. Federal commissioners were paid more for rulings against the accused. The accused could not testify in their own defense. A slave owner’s sworn statement alone could be enough to seize someone who may have lived free their entire life. Wisconsin rebelled. Using court records, historical accounts, and constitutional analysis, this episode explores the collision between law, justice, federal power, and slavery in the years leading to the American Civil War. Because the law is not the justice. The law is the arena in which the fight for justice is fought. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit rejil.substack.com

    15 min
  2. May 16

    The Petrodollar: The Cracks In The System | PT 3

    The petrodollar system has survived oil embargoes, financial crises, and the rise of China. It survived 2008 — when a crisis born in American banks sent investors running toward the dollar, not away from it. But the dollar just posted its worst performance in over fifty years. And this time, the threat didn’t come from Beijing or Moscow. It came from Washington. In Episode 3 of our Petrodollar series, we cover the two events that are changing the architecture of global finance in real time: the Trump administration’s chaotic tariff policy — which shattered the dollar’s safe-haven status for the first time in modern history — and the war with Iran, which closed the Strait of Hormuz and turned the world’s most critical oil chokepoint into a yuan-denominated toll booth. The petroyuan isn’t theoretical anymore. It’s being enforced at gunpoint in the waters where the petrodollar was born. In this episode: — How the dollar’s safe-haven status broke down under its own government’s policy — Why the Strait of Hormuz closure is the most direct challenge to the petrodollar since 1974 — Iran’s condition for reopening the strait — and what it means that ships paid in yuan — Saudi Arabia’s quiet departure from the 1974 petrodollar arrangement — What the de-dollarization numbers actually show — without the hype or the denial — The British pound parallel — and what it tells us about how reserve currencies actually die This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit rejil.substack.com

    21 min
  3. May 9

    The Petrodollar: The Privilege of Power | Part 2

    In Episode 1, we traced how America replaced the gold standard with oil — and built the petrodollar system in a secret deal between Henry Kissinger and the Saudi royal family. In Episode 2, we look at what that system actually did. For fifty years, the United States has run deficits that would have collapsed any other economy. Borrowed endlessly. Printed money. Fought wars it couldn’t pay for. And the global financial system absorbed all of it — because the world needed dollars, and it needed them to buy oil. That is the exorbitant privilege. And it didn’t come for free. The same strong dollar that let Washington borrow cheaply made American manufacturing uncompetitive and sent factories overseas. The same recycling loop that kept interest rates low pumped money into financial assets owned overwhelmingly by the wealthy. And the same dollar dominance that gave the US financial flexibility eventually became something else entirely: a weapon. When the US froze $300 billion in Russian central bank reserves in 2022, every country in the world got the same message: the dollars you hold are subject to American political decisions. Your reserves aren’t savings. They’re hostages. That decision — more than any other single event — is what is now driving the de-dollarization we’re seeing accelerate in 2025 and 2026. In this episode: — Why the US can run trade deficits that would destroy any other currency — How petrodollar recycling keeps American borrowing costs artificially low — The strong dollar’s hidden cost: deindustrialization and the hollowing out of the American working class — How the dollar became a geopolitical weapon through sanctions — Why the 2022 Russia asset freeze was the moment the world started building exits — What 2008 tells us about the dollar’s self-reinforcing power — and its limits This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit rejil.substack.com

    12 min
5
out of 5
4 Ratings

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Welcome to the Continuum! Here we look at what is happening now and how it connects to history. rejil.substack.com