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Monday, October 19, 2009

[mukto-mona] Death of Capitalism

Sorry to inform you that all Trading Houses in Venice, Italy in 15th Century, where it had all started were not owned by Jews and I repeat. Anybody could mint Gold Coins before birth of Central Banks. Central Banks had started printing Paper Currency in lieu of Gold Coins in late 1800's but then they had started over-issuing.
Economist Keynes was not for running government on Deficit and printing of money to feed government's Deficit Spending. He was a Protectionist. He was for high Tariffs against Imports and those had been implemented before the 1934 New Deal of the newly elected US President, Franklin D. Roosevelt that you are blaming everything on.
The New Deal was Socialistic and because of it USA, a country poorer than India was put on the path to advancement, prosperity and Super Power Status. You would not be in USA if there was no New Deal.
Before 2008 Stock Market crash, US Economy was already suffering from export of 10 million jobs to China, India and other countries. Its not all fault of Mortgage and Housing Market collapse because of deregulation or rules set up in 1934 caused by Republicans so, the Bankers could cheat. During the same period (1980-2009) 1/3rd of population of Mexico and millions of Immigrants also moved in to USA aggravating Job shortages further. It has nothing to do with Socialized Capitalism or Marxism. Its just mismanagement of Economy.
I don't see Capitalism dieing. I see crude Capitalism dieing and a lot more regulated Capitalism becoming stronger. Moslim Mollaas propagating that Capitalism is dieing, do not know any Economics otherwise, they would have known, Islamic System is a lot less regulated Capitalism than the one presently exists in the world.

--- On Mon, 10/19/09, Nizam Ahmad <> wrote:

I think Banking was Jewish speciality [private] and of course, currencies were metal backed, gold or silver, but the Monarch owned the Mint. Mises Institute, Alabama, USA could reveal more.


Re today's fiat currency, I mean the modern working class, not of Marx's times, that benefited from FED's loose monetary policy emphasised by Keynesian doctrines since the New Deal.


BTW, the FED is no different from Marx's Central Bank.  


-----Original Message-----
From: S Turkman []


Excuse me sir but when Karl Marx was alive, there was no Paper Money. The World used to have Gold Standard in those days and there were no Central Banks. Any Trading House could mint Gold Coins or Currency. He was the 1st proponent of Central Bank of State and its the 1st Commandment of Communist Manifesto now being followed by all countries of the world.

In Marx's days there were no Commerical Banks lending money to borrowers. There were no Depositors for Trading Houses or Banks or the early version of Banks.


--- On Mon, 10/19/09, Nizam Ahmad <> wrote:


Dollars, Pound, Euro are already Nationalised currencies, as socialism/communism would want, as none of them is issued by private entrepreneurs but by respective governments/central banks.


Enough money was printed, loose monetary policies, to help Marx's working class to buy consumer goods and cars to bring them to a decent middle class standard.


Few Hedge fund mavericks/speculators, or large bonuses to CEOs, are, maybe, greed but not pure capitalism.  Time now is to adopt Capitalism in its real form, e.g. the denationalisation of money, and certainly to stay away from Marx and his predictions that would make matters far worse.  


-----Original Message-----
From: SAIF Davdas [] 


In 1861, Karl Marx wrote, "Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism". Ladies and Gentlemen of the Jury, I ask you---will you find any bigger prophet of Allah than this prescient man, Hazrat Karl Marx? Unfettered capitalism? The vernacular of conspicuous consumption no longer makes sense and no longer enjoys its old popularity to a conscientious mind. How much more irresponsible a government can become? How the US Government regulators can allow this derivatives and hedge fund driven securitization of the stock market? From Dhaka to Washington, this conspicuous consumption--the anti-human, anti-reason, un-civil, crude, cruel and monstrous ego-feeding circus must end to save the mankind now. Obama alone cannot do it. We need the second coming of Maha-Atma Gaandhi to shake the worlds conscious to wake it up. The call being sent out and increasingly heard by the masses of the world at large, though not in the bastion of free market Capitalism---United States of America--that we must find a way to combine socialism with capitalism. Greatest economic thinkers stupidly did not take into their equations the incredible volatility of human greed. The chasm between the haves and havenots is becoming deep and unbridgeable all over the world. A fairer distribution of wealth is not as terrible a concept as the rich would make us believe. There are a number of European countries that have successfully made progress in that direction. Let us investigate how they did it--instead of being a bunch of blind dogmatic foolish reactionaries.


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"I disapprove of what you say, but I will defend to the death your right to say it".
               -Beatrice Hall [pseudonym: S.G. Tallentyre], 190

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