Doug writes:
>
> For goldbugs, the beauty of the metal is that it's a nonstate form of money
> and its supply rises about 2% a year (and not even Hans Tietmeyer could run
> a monetary policy that tight). For Marxist goldbugs, the beauty of the
> metal is pretty similar - they just can't believe that an entirely
> state-regulated monetary system can survive. But it has.
>
> Doug
Has it Doug? Are'nt we being a little hasty here? I mean even you say that this stuff
is only 25 years old and if we look at the last 25 years it was based only on post WW2
development of the long boom after the war. But being that this boom is over and the
world market is skrinking, connected to the destruction of the SU and with China on
the brink of capitalist counter revolution as the ex "Asia Tigers" go off the cliff I
think that we are going to have to look at pre Bretton Woods stuff again.
Another interesting point is about credit which our "Marxists" are making a big deal
out of in relationship to the gold standard. However the social impact with a run on
gold or a run or collapse of credit serves the same function in the present system.
The recent revamping of the Swedish, and now the Japanese, Indo-chinese economies
shows that a mercedes and a nice house ain't woth the pot to piss in these days.
And things will get worse. In order to stop the run on credit the swedes had to
auction off half of the welfare state, the Japanese are dumping many of its social
reforms like "life employment". This was in a sense the "reformist" and Keynesian
bagage left over from this post war boom. But what will they have to rely on to hold
up this system the next time around.
Seems to mean that our "Marxists" are getting lost in all kinds of confusion over the
old "gold" standard and the new credit standard based on the strength of a given piece
of paper without understanding that the system is on a self destruct mode which leads
to wars and the possibilities of revolution to get rid of it.
The social consequences of the ninties and late 80ties of Bretton Woods have not
changed the scenario. Perhaps things have shifted from talking about gold, but the
consequences for the poeble and middle class and peasantry is still the same. Mass
unemploymrent reaching towards the levels of the 30ties, a increasingly worried and
panicky middle class and lumpen elements turning towards fascist solutions on the
perimeter.
What difference does it make between "gold and credit" if the system itself no longer
can turn a buck. So we are back to the old question of war being the for longed arm of
economic policy.
When Doug tells us to read Keynes whom he thinks is great and then covers his ass by
saying politically wrong is taken up by the WV article and its connection to the
Stalinist and reformist illusions created by all this stuff and the political line
that flows from these tendencies in regards to this stuff in the last decades. And one
thing is quite clear and which the WV article points out about "Wall Street" is that
Doug not only does not mention the working class nor its role in history as and
independent force.
That's because Doug and others would like to be at those future Keynesian conferences
to reform this society and attempt to turn the clock back to a period in history which
is excepptional and hardly the rule! In fact the defeat of the Soviet Union has led to
a ppre 1914 and pre WW2 situation unfortunately minus the degenerated and deformed
workers states with the exception of China which is on the brink of capitalist
counter-revolution. And if the bureaucracy crosses the Rubicon and links up with the
compradore bourgeoisie on Taiwan well I doubt that they will be thinking on the basis
of a Kautskyite super imperialist model.
But America,Germany,Japan and others certainly don't either because the system is
based not on cross border multi nationals (which by the way we had during the two
previous WW's!) but thier *own* national terrain.
Especially worth mentioning is the utopian idea of a united capitalist Europe. Because
the only thing behind a united capitalist Europe is which imperialist power (I believe
the Germans) control the strings..
Once again what is lacking for me in this discussion is a link to social and political
reality. Without this you people can just go on and on to your bones rot! And it will
not help one bit. Because Marxism is not just a theory, but a guide to action. So
please tell me what this present spiff between gold and credit changes the bottom line
of this stuff.
It doesn't to me. We are facing a world of blood, misery and possibly extinction
unless we can find and answer and connect this stuff up to program and mobilizing the
only social force in history capable of changing things..
Warm regards
Bob Malecki
PS: Charlie what do you think about when you here the arguement of the economic power
of the dollar? Does this mean a "black" dollar --a rison dollar, a welfare dollar, and
unemployment dollar, a dollar invested in blue chip stocks for retirement by the trade
union bureacracy?
Our English friend on the list is confused about gold! Well I am confused about all
the wacko replies on gold not connected to any kind of liiving reality. Marx by the
way was not just a theoritechian but the founder of a movement to act on a program to
impose the conclusions of his thery.
On this list theory and practice are disconnected in a sense. Let us get out of this
study circle mentality and produce something that can be a tool to really change
things. The first step is connecting the gold-credit debate to living and political
reality and program and not disecting this stuff into bits and pieces which lead to a
lot of soap bubbles being blown while the winds of this rotten system are taking us to
the brink of doom!
Warm regards
Bob Malecki
PS. Doug ya did not answer my question. What about those Koreans and their jewelry?
This compared to the fire sale of Mecedies and villas in Indonesia.
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