[Marxism] The Republicans and the gold standard

dan d.koechlin at wanadoo.fr
Wed Aug 29 20:51:25 MDT 2012


In my previous post, I wrote that those who "have Capital" chose to 
invest in Gold when they fall on hard times. Actually, I think it is 
only the petty bourgeoisie who are buying gold at the moment. The "haute 
bourgeoisie" do not share such notions and are trying to spread their 
investments in order to concentrate and increase the degree of 
exploitation of the productive forces of the world.

Talk of gold, of "pegging", of an universal, stable, standard is a 
logical, but outdated, effort to escape the gravitational pull of global 
Capitalism since the time of Proudhon.

Trying to curtail the laws of motion of Capitalism has always been a 
pre-occupation of the petty bourgeoisie in times of crisis. Trying to 
bridge the gap between exchange-value and use-value through a universal 
standard, and hoping that it will influence the rate of 
surplus-extraction is not a new idea. But use-value is not exchange 
value, it is only the carrier of exchange-value and cannot become 
synonymous with exchange-value thanks to any external property, at least 
within our present Capitalist mode of production.  Use-value is 
use-value, exchange-value is exchange-value, and Capitalists can only 
use one use-value to accumulate Capital : Labour.

Labour, and the control of the labour force, is the only commodity that 
produces more value. No other commodity has that property.




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