>To say that any money that is not backed by gold is also fictitious makes is
to stretch the entire notion of the fictitious notion.<
Hey, don't blame me, I didn't make this stuff up. It _is_ ridiculous. But it's
also Marx.
>By its very nature money in the form of medium of exchange is not backed by
gold.<
Hmm, not really. The difference is that money backed by gold is convertible on
demand. Fiat money is not.
>Fictitious capital, as I said, may be a questionable notion. Shares
incapital, such as industrial capital, is real capital.<
Not according to Marx. A stock share is a claim on future income, not on the
firm's tangible assets. That's fictitious capital.
>Incidentally it is interesting to see that you view Mr Greenspan as serving
the class interests of the Korean working class by "letting interest rates
remain low".<
AG serves the interests of finance capital. It so happens that those interests
occasionally overlap with the interests of middle and working class people. It
stands to reason, given what you've said about the state and capital.
Christian
