Modern Capitalism – The Marxist View: Part 8A


Treachery!! Предательство!!

The feared “Soviet” secret service, the KGB, was always controlled by the the CIA (Central Intelligence Agency of the USA). As such, the CIA — KGB played an insidious and decisive role in the destruction of the Soviet Union.

The KGB’s successor in conspiracy, the “Russian” secret service FSB (ФСБ — Федеральная служба «безопасности» России) is likewise controlled by the CIA.

Among the manifold CIA – FSB tasks in stifling Arnold Lockshin is to block almost all commentaries sent in response to my material on the internet.

Arnold Lockshin, political exile from the USA living in Russia

ФСБ — Федеральная служба «безопасности» России — по приказу своего секретного постоянного хозяина — американского ЦРУ блокирует почти все отправленные мне комментарии.

И это далеко не всё.

Арнольд Локшин, Политэмигранта из США


Even short of a government going out of existence, the money can become almost valueless. That occurred in the German Weimar Republic between June 1921 and January 1924. “By November 1923, the American dollar was worth 4,210,500,000,000 German marks “ (!) (Hyperinflation in the Weimar Republic, Wikipedia).

In somewhat less dramatic fashion, the Russian ruble lost most of its “value” during the Russian financial crisis of 1998. In 2014, with an increasingly severe economic crisis, another significant devaluation occurred in Russia and in several other countries

Money today in modern capitalist society is a Ponzi scheme (see Wikipedia) or a Mavrodi (Мавроди) MMM scheme, in which apparent value (except insofar as the currency has some precious metal backing) is assumed to be real value. As long as governments and their economies are viable, everyone participates in the ruse – the vast majority of the populace unwittingly. In fact people are forced to participate in the ruse, because there is no other realistic way to purchase the items people need to survive.

One can argue that gold or silver can be bought with dollars or any other active money. Why not? The precious metals are commodities and can be bought and sold like other commodities: chewing gum, ham, automobile tires, etc. etc.

For money to represent real value, however, the coin or currency must be freely exchangeable with a given stable mass, a given weight of the gold or silver. The total dollar, euro, pound etc. value of the sum total of the currency should correspond to the total value (amount) of gold and/or silver in the depositories of the corresponding government or central bank.

Nowhere in the world is that now the case. To reflect real value, this convertibility of the money-token should be unalterable, although it is conceivable that divergences theoretically could reflect changes in the amount of labor-power required to produce gold or silver. Marx’s dictum is correct: for money to represent real value, “the issue of paper money must not exceed in amount the gold (or silver, as the case may be) which would actually circulate if not replaced by symbols.”

The phony-baloney ruse works until a financial economic crisis occurs, at which point the losses in currency “value” may be either sustainable, major, devastating or absolute – depending on the nature and severity of the crisis and whether the particular state survives.

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