226
you are viewing a single comment's thread
view the rest of the comments
[-] happybadger@hexbear.net 26 points 2 months ago

Even Marx himself drew a distinction between capital and fictitious capital in 1864. I'm not defending real banks. I'm saying that my credit union is FDIC insured up to $250k of the same currency that I can buy bread with at any store. I can't deposit penis420coin in that account because it doesn't exist outside of a claim to ownership. That actual economy will continue to exist even if Penis420coin Inc. goes bankrupt, while any fuckery by that minter of the coin immediately destroys all of its speculative value. The US dollar is real because it's universally adopted and backed by the US military even if it isn't directly pegged to gold. Any crypto bullshit is only backed by the empty promise of the shadiest pseudo-capitalists out there.

[-] porous_grey_matter@lemmy.ml 12 points 2 months ago
this post was submitted on 19 Sep 2024
226 points (99.6% liked)

chapotraphouse

13556 readers
1001 users here now

Banned? DM Wmill to appeal.

No anti-nautilism posts. See: Eco-fascism Primer

Gossip posts go in c/gossip. Don't post low-hanging fruit here after it gets removed from c/gossip

founded 3 years ago
MODERATORS