2014-09-18

Amputee Currency

The monetary system that prevails in the West is characterized by an amputee currency. Indeed, both the central banks' public debt and the commercial banks' fractionary reserve, imply that our money worths less than what it is supposed to. This system mainly benefits the financial speculation and the banking business, while it harms the disadvantaged.

It is nothing but a form of legalized crime: counterfeiting of currency and accounting fraud, protected by law. What happens is so simple as that: at one end of the system money is created out of nothing -- of which, of course, the capitalists keep a part --, while at the other end of the system the tensions to provide real wealth to this fictional money need to be
increased. For the value of the currency tends to balance out along the spectrum of the system -- similarly to communicating vessels --, so that this artificial creation of money causes a greater extraction of capital from the human labor and the natural resources.

All in all, it is a system that exacerbates economic instability,
inflationary and deflationary bubbles, the exploitation of men and resources. In other words, this mechanism increases the structural violence of the whole system. In the same way that trying to hide a lie has consequences for everybody involved, this legal crime committed by the states and the banks produces much suffering and death to the victims. If we were to visualize it, it is as if the bills were amputee. And this is not a simple metaphor. Because capitalism actually needs to wage wars in order to incorporate more life to its domain.

Image after Great Seal of the United States' one-dollar bill (1957 and 1964) [pd-fu/fd] and Ray Lewis/Marine Corps' photo of corporal Garrett S. Jones [pd-fu/fd].