Thursday, April 9, 2015

this presentation is, in large part, broadly dishonest.

so, these oligarchs take the money out and play around with it - they make money off of currency swaps, and stock options and all kinds of other imaginary paper wealth sources. i'm with you up to this.

but what you don't point out is that they then put it back. plus interest. the accounting sheet balances out.

now, it's certainly unfair. they're able to create money out of nothing, while the rest of us get shipped off to work. it's a class system built on extreme inequality....

but the monetary basis of this has no net harmful end. excluding job losses from mechanization or outsourcing (and attacks on unions in general), at the end of these "crises" the bastards always leave things as they found them.

this is consequently not a pressing concern. nothing to do with paper wealth is, really. pressing concerns have to do with finding ways to change who owns real wealth. that is, property.