Reading Capital With Comrades #3: MONEY (Ch. 2-3)
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Apr 26, 2021 Dive into the fascinating world of money and exchange! Discover how money evolves from barter, transforming the dynamics of trade. Explore the contradictions between use-value and exchange-value and their implications in today’s economy. Unpack the complexities of price versus value, particularly in the context of sanctions and tariffs. Learn about money’s roles as a measure of value and medium of circulation, and navigate the intricate relationships that shape our capitalist realities.
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Value vs. Use-Value
- Commodities must be realized as values (exchanged) before becoming use-values.
- A crisis can arise if produced commodities lose their use-value before exchange.
Fiat Currency and Sanctions
- Breaking from the gold standard gave more flexibility for currency manipulation and economic domination.
- Sanctions weaken countries by restricting access to US dollars, highlighting the dollar's power.
US Imperialism and Gold
- In 2020, Britain, at the US's request, blocked Venezuela from its gold reserves.
- China's rise threatens US imperialism by offering alternative trade and development avenues.