On the Defense of Parasitic Finance

Max Sawicky sawicky at epinet.org
Thu Jan 11 18:24:56 PST 2001


1. The financial system is the medium through which small-C capital (plant and equipment) is allocated.

2. Capital allocation -- the withholding of capital to an area, region, industry, or enterprise -- is a weapon wielded against the working class and other small producers, including through the filter of race, gender, and other prejudices.

3. To swallow finance -- capital allocation -- into "capital is a social relation" much bigger than finance is to retreat from politics to marxoid abstractions.

4. To stigmatize a critique of finance as anti-semitic is slander that betrays a taste for political marginalization. It also serves the interests of -- surprize! -- parasitic finance, the decision-making mechanism of Capitalism.

mbs

"The Omaha Platform of 1892

A permanent union of all working classes Wealth for the workers Government ownership of railroads Government ownership of all communications systems More flexible and fair distribution of the national currency No more ownership of land by those who do not actually use it"

* * *

"Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank, and that the government ought to go out of the banking business. I stand with Jefferson rather than with them, and tell them, as he did that the issue of money is a function of government, and that the banks ought to go out of the governing business." (W.J. Bryan)



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