Wednesday, June 13, 2012

marx on the relation of the financial securities cloud to production system

"To the extent that the accumulation of this paper (the cloud)
 expresses the accumulation of railways, mines, steamships, etc.,(the production system)to that extent does it express the extension of the actual reproduction process — just as the extension of, for example, a tax list on movable property indicates the expansion of this property."


" But as duplicates which are themselves objects of transactions as commodities, and thus able to circulate as capital-values, they are illusory, and their value may fall or rise quite independently of the movement of value of the real capital for which they are titles. "


as to the financialized share in surplus value

" In order to quickly settle this question, let us point out ... the accumulation of wealth in the hands of bankers... acting as middlemen between private money-capitalists on the one hand, and the state, communities, and reproducing borrowers on the other."


".. the entire vast extension of the credit system, and all credit in general, is exploited by them as their private capital. "


"These fellows always possess capital and incomes in money-form or in direct claims on money."

" The accumulation of the wealth of this class may take place completely differently than actual accumulation, but it proves at any rate that this class pockets a good deal of the real accumulation."


repeat
the essence of the reagan new dawn

"The accumulation of the wealth of this banker class
    may take place completely differently than actual accumulation"