Credit money and commodity-backed money stand in structural antagonism
Evidence
But it was now registered as a downright antagonism between the financial system (the whole structure of credit moneys and ‘fic titious capitals’) and its monetary base (gold and other tangible commodities that give a clear physical meaning to money). — David Harvey, The Condition of Postmodernity, 1658
Categorization
- DEFINE: Defines speculation on the Marxian sense of virtual capital as a key concept for the book.
- XREF: connects to: The CFA system’s credit repression causes savings scarcity, not the reverse — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 140; Abject traces of prior owners complicate the impersonality of commodity exchange — Grant Bollmer, Katherine Guinness, The Influencer Factory: A Marxist…, 257; Commodity equivalence remains nonthinkable even after labor-theory explanation — Fredric Jameson, Postmodernism, or, The Cultural Logic…, 516 (+1 more)
Broader Connections
- The 1848 financial crisis revealed an antagonism between credit and specie money
#exemplifies(0.92) — David Harvey, The Condition of Postmodernity, 1658 - Abject traces of prior owners complicate the impersonality of commodity exchange
#complicates(0.75) — Grant Bollmer, Katherine Guinness, The Influencer Factory, 257 - The CFA system’s credit repression causes savings scarcity, not the reverse
#qualifies(0.72) — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 140 - Commodity equivalence remains nonthinkable even after labor-theory explanation
#expands(0.70) — Fredric Jameson, Postmodernism, or, The Cultural Logic…, 516