Modern Capitalism – The Marxist View: Part 12

 

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, не пропускает почти все отправленные мне комментарии.

И это далеко не всё.

Арнольд Локшин, Политэмигранта из США

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Imperialism

Imperialist dominance. The imperialist countries of the world are led by the United States of America and include Western Europe and Japan. Some other countries, such as Canada, should also be included, although their weight in world affairs and global economics is considerably smaller.

Imperialism is a grossly unequal system of capitalism in which the dominant countries subject the rest of the world to a position of marked inferiority. Massive wealth is squeezed out of the non-imperialist world by utilizing super-cheap labor and cheaply extracting natural resources.

Huge profits accrue to the imperialist countries as a result of this super-exploitation. To a limited extent, the working class and other laboring sectors of the population have “benefited” from the leavings of brutal super-exploitation of the so-called “Third World” — the economically subservient (not infrequently, politically and militarily subservient, as well) subject countries of Asia, Africa and Latin America in particular. This, too, is an important part of the highly popularized “success” of modern capitalism.

More recently, certain countries – most notably the BRICS (Brazil, Russia, India, China and South Africa) – stand in a somewhat intermediate position.

Reserve currencies. The imperialist countries enjoy another distinct advantage in that their currencies are the current measure of (fictional) wealth. “A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. The reserve currency is commonly used in international transactions and often considered a hard currency or safe-haven currency… a reserve currency gets certain benefits called the exorbitant privilege.

The US dollar and the Euro make up 90% of allocated reserves globally. By the end of the 20th century the United States dollar was considered the world’s most dominant reserve currency, and the world’s need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year…

After World War II, the international financial system was governed by a formal agreement, the Bretton Woods System. Under this system the United States dollar was placed deliberately as the anchor of the system,..” (Reserve currency, Wikipedia)

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The “wealth” of the vast majority of countries in the world is often measured by how much “reserve” or “hard” currency their central banks hold. The United States is not encumbered by such restrictions, as the US central bank – the Federal Reserve – can manufacture as many dollars it wishes at any time. Simply by pressing on a computer key or icon. The FedReserve has “an infinite supply of money” (Open market operations, Wikipedia).

In reality, no currency anywhere provides an accurate measure of wealth, as the system of phony-baloney money extends worldwide.

So long as the currencies of the imperialist countries do not themselves fall into disrepute, the reserve status of the US in particular, and other imperialist countries as well, offer them a great advantage economically, as well as in other respects. Non-imperialist countries cannot simply “print” an “infinite supply of money” without encountering the danger of massive hyper-inflation.

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