'The monetary system is essentially a Catholic institution. the credit system essentially Protestant. "The Scotch hate gold." In the form of paper the monetary existence of commodities is only a social one. It is Faith that brings salvation. Faith in money-value as the immanent spirit of commodities, faith in the mode of production and its predestined order, faith in the individual agents of production as mere personifications of self-expanding capital. But the credit system does not emancipate itself from the basis of the monetary system any more than Protestantism has emancipated itself from the foundations of Catholicism'
The following is a quote from Marx's Capital Vol. III
Do you possess the ability to decifer Marx?
'Men do not change, they unmask themselves' - Germaine de Stael
He's saying paper money [=credit] is intrinsically worthless, but only works cause people have confidence in the country printing it. However ultimately paper money relies on real solid gold. he doesn't explain why.
The religious mumbo jumbo is just a poetic image that doesnt mean anything
My humble blog
It's easy to refute an argument if you first misrepresent it. William Keizer
So I suppose he's suggesting all monetary exchange should be in actual commodities and not money. And if he's against that to, then we're relying on double-conincidence barter. But then again, there is no barter since there is no provate property.
...How does socialism work, again?
This appears to be just another capitalism = religion Marx quote. Much like postponing purchases, savings, and enduring exploitation is supposed to bring prosperity under capitalism, suffering through life brings salvation in the afterlife.
In short, for Marx, capitalism is the secular equivalent of religion.
Irish Liberty Forum
Odd, if I read this correctly, he compared the monetary system to something based off of faith, and then compared it to Catholocism. If that is the case, "faith alone" (sola fide) is a Protestant doctrine not a Catholic one. So he may have made an error, unless I read it wrong.
Do you possess the ability to decipher Marx?
February 17 - 1600 - Giordano Bruno is burnt alive by the catholic church. Aquinas : "much more reason is there for heretics, as soon as they are convicted of heresy, to be not only excommunicated but even put to death."
I am hoping that at some point you will grace us with your insight Laughing Man. I for one eagerly await your explanation. :)
I can translate it no problem:
Bungabunga, foursquare meals a day bring your own unicorn. jiggabong. Hark! I'm sorry Dave, I can't let you do that. 10001001110101, x1314ftyyhfh, said the maple to the airhostess.
hurray for Marx!
Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid
Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring
If anyone is genuinley interested in understanding Capital Vol III, instead of just ridiculing Marx, this may be of some value:
http://www.marxists.org/archive/marx/works/1894-c3/editorial/guide.htm
Dondoolee:If anyone is genuinley interested in understanding Capital Vol III, instead of just ridiculing Marx
Killjoy.
I've been reading Marxism Unmasked by Ludwig von Mises and it is rather good [ though disorganized because it is from a series of lectures ] but one of his chapters ended with this quote by Marx and Mises justly declared it nonsensical. I just wanted to see what others thought of it.
Laughing Man:Mises justly declared it nonsensical.