The genocidal war in Gaza has necessitated a reconsideration of the relationship between the current global, neoliberal stage of capitalism and the collective, racialized colonialism of which the slaughter in Gaza is only an extreme example. This reconsideration is not only prompted by the dehumanization of the Palestinian people and the demonization of the resistance movement. It is also prompted by the constant justification that was given for the Zionist war, by the mainstream media in the West and by most of the political establishment, including many on the Left of the political spectrum. This paper will argue that Racism is embedded in the very structure of neoliberal globalized capitalism and that the slaughter in Gaza is part of a systematic dehumanization and violence that is at the very core of the free market and the neoliberal project. How do postcolonial theories help us understand the relation between the Global North and the Global South in the current conjuncture? How do these theories relate to Marxism on the one hand and Islamism on the other? The paper will attempt to answer these questions and explore the implications on the theoretical and practical levels.