I have never seen the actual full quote before because it's been repurposed so many times, but it turns out it is defense of communist Jews all along.

Go ahead and Google it. They cut off the part about communism 99% of the time and skip to the socialists and trade union parts make it sound unreasonable and pretend that communists aren't ALSO almost entirely socialists, trade unionists, and Jews, especially in the 20th century.

They're the same thing!