The Soviet campaign against the Jews, after 1967 a permanent feature of the system, was itself conducted under the code-name of anti-Zionism, which became a cover for every variety of anti-Semitism. Soviet anti-Zionism, a product of internal divisions within the east European Jewish left, was in turn grafted on to Leninist anti-imperialism. At this point we need to retrace our steps a little, in order to show that the Leninist theory of imperialism, like Marx’s theory of capitalism, had its roots in anti-Semitic conspiracy theory.