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View Diary: Anti-Capitalist Meetup: Money and Magic Beans (46 comments)

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  •  Coming back later, but kudos (7+ / 0-)

    The question that puzzles me, from a capital point of view, is whether or not capital is anymore related to money even. "Globalism" has gone through more costume changes than Cher doing a birthday party for Elton John, but as it is practiced it has meant that the purely symbolic money written on accounts is treated as real and speculated with, and thus we have "creating wealth" without creating goods or demand.

    Without this world of "finance" (rather than financing), it would not be possible to have had Sept. 18, 2008 and the "lost" trillion dollars without an actual loss of goods, and, without "finance" becoming capital, banks would need to lend and stimulate business. Now, without any connection to business or productivity, they are making/creating money by simply agreeing that they owe one another 70 x 7 quatloos.

    "...ere God made us He loved us; which love was never slacked, nor ever shall be." - Juliana of Norwich

    by The Geogre on Sun May 19, 2013 at 05:49:53 PM PDT

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