Basing their claims largely on the Protocols of the Elders of Zion—a fictional forgery popularized in 1903 describing a secret plan by Jews to rule the world and foster religious conflict—antisemites allege that despite Jews accounting for approximately 0.2 percent of the global population, the tiny minority controls the banks, media, government, and even the weather. Although the Protocols have repeatedly been proven to be a hoax, they remain popular among antisemites and continue to be shared in print and online. The myth’s basic assumption is not only that Jews do not deserve to have power, regardless of what values they may stand for, but that their power is a threat to the well-being of everyone else.  

An interesting dichotomy can be seen within the conspiracy of world domination through which Jews are simultaneously responsible for opposing sets of ideology. For example, Jews are blamed for both for inventing communism as well as for using their status as members of the global elite in capitalism—as bankers, media moguls, and owners of multinational companies—to enslave the impoverished masses. This also leads to situations in which those criticizing both communism and capitalism can subscribe to the same basic antisemitic tropes and conspiracies.

While antisemitic beliefs, like racism, often include degrading depictions of Jews (such as the Nazi portrayal of Jews as rats or images from the political left that often represent “Zionists” as rats or dogs), they also emphasize conspiracy myths that Jews control the world or are attempting to achieve “world domination.” It is for this reason that Dr. Lipstadt has explained that racists believe they are “punching down” at the “inferior” while antisemites believe they are “punching up” at the all-powerful Jews who are “controlling” the world.  

Perhaps driving this conspiracy myth is the idea that Jews inherently do not deserve to have power, and any success they have must be due to their manipulative and conniving ways. As such, Jews who pursue political office or other leadership positions are often accused of wanting to control the world rather than being applauded for their efforts, while antisemites position themselves as truth-tellers, unmasking the manipulative Jew plotting to take over the world.  

The irony of this conspiracy myth is that historically, Jews have been subjected to discrimination and antisemitism and in general have had very little influence or control over even their own fate, let alone external institutions and politics.