Trump as president again?
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THE RISE OF FICTITIOUS CAPITAL
By ‘real capital’ Marx meant money capital invested in physical means of production and the workforce itself with a view to producing commodities to be sold on a market in the expectation of realising a profit – or financial return – from selling them. However, what has become increasingly salient in recent decades is another form of capital that Marx dubbed ‘fictitious capital’.
Fictitious capital does not involve the transformation of money into commodities. It is not about investing in means of production to produce commodities for sale on a market. In this respect it is distinguishable from interest-bearing capital in the form of bank loans to businesses that produce commodities. The latter do not constitute fictitious capital as such.
HAS CAPITALISM BECOME FINANCIALISED?The financial crisis of 2007-2008 triggered by the large-scale collapse of mortgage-backed securities in the United States was an important catalyst in promoting the view that capitalism has become ‘financialised’. Financial speculation has come to be seen not only as something increasingly autonomous with respect to the real economy (based on the production of commodities), but also as increasingly dominant in determining what happens in the latter.
The crisis was looked upon as being essentially a product of the short-sighted and irresponsible shenanigans of the financial community, aided by the New Financial Architecture (NFA) instituted in previous years and the radical financial deregulation this all entailed. In short, it was said to be the outcome of a steadily intensifying process of ‘financialisation’.
https://www.wsws.org/en/articles/2026/08/21/hlgz-a21.html
The USA government is paying the Visa with the Mastercard, they are borrowing money in order to pay the interest of the debt, and they had to double the buy back and still the interest yield has increased
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U.S. Treasury Secretary Scott Bessent’s announcement that the Treasury is going to double its buyback of long-dated US bonds from $2 billion to $4 billion has fallen flat. After an initial fall in yields, they have started to rise again and are back near the multi-year highs recorded earlier this week.
Treasury Secretary Scott Bessent speaks to members of the media outside the White House in Washington, Thursday, Aug
This was despite Bessent saying in an interview with the business channel CNBC that the buyback could be more than the $4 billion that he initially announced. The general sentiment in the market is that the growing bond market turbulence is not going to be calmed by such interventions because more fundamental issues—above all, the rise of US debt to $40 trillion—are involved.There are growing concerns that the US is in a “doom loop” because of the rise in interest payments to more than $1 trillion a year, creating a situation where the government must borrow money just to pay the interest bill on past debt.
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Some economic analysts have indicted that probably, the USA government and the congress would be forced to increase taxation on the profits of the capitalist class as FDR did during the Great Depression . That proves what the socialist party has been saying about the myth on taxation that the biggest burden of taxation falls on the profits of the capitalist class and that state is financed with surplus value.This long article (see the translation above in #265492) is actually very good. Pity he writes “Marxism” when “Leninism” would be more appropriate.
I sent them a message clarifying that Leninism is not Marxism and that Marx was not a Marxist either; even more, he said that it was anti-dialectical.
That is one of the problems with this article because Leninism is not Marxism, and he makes two separations that are not appropriate: Marxism ( Leninism ) and Marx; it should have been Lenin and Marx.
The concept of Marxism was initiated by Bakunin; some close collaborators of Marx and Engels continued wrongly using the same term without thinking about the origin of the term, but he was trying to defend his friend
The Maximilien Rubem article is not very objective because Engels was not the founder of Marxism, and the concept of dialectical materialism was not created by Marx or Plekhanov; it was created by Geitzgen.
The so-called Marx’s three sources written by Lenin are wrong; he did not mention the concept of class struggles, the labour theory of value prevailing in the soviet union, and the materialist concept of history.
Thomas Moore wrote a very good article about scientific socialism. ( It has been translated ) I sent them three articles written by the SPGB on Marxism, Scientific Socialism, and Capitalist debt and taxation.
All this mess about USA debt proves what we have said for several years ( some members have questioned it ): that the burden of taxation falls on the profits of the capitalist class, and the leftwinger’s concept of the workers as taxpayers and the national debt and the financing of wars and bank bailouts, are wrong. The state is financed with surplus value, and workers do not have any state budget, and the national debt is the debt of the capitalist class
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I explained to them that countries like the USA will not go into debt default; they have the resources to increase taxation to more than 50% on capitalist profits, and the Congress of the USA will not allow a personal dictatorship.FDR passed a resolution thru the congress to increase taxation to 85% during the great depression; despite some capitalist opposition, the resolution was approved, and they can also reverse Trump’s tax cut if they obtain the majority in the midterm election. In any way, the whole debt is fictitious capital.l
Argentina went into default or meltdown because nobody wanted to extend more loans to them; their credit rating was too low, and the last time with Milei was a monetary swap, and Chase and Citibank did not approve the 40 billion dollars loans,
China has issued several loans and monetary swaps to the government of Milei even though he does not want to deal with Communists, the same thing as Trump, who is negotiating with the Cuban government to invest in a hotel, casino, and golf club, and in 2008 he violated the Cuban blockade, which they do not want to call an embargo.
The federal government has been violating its own blockade by issuing pre paid letter of credit to ship agricultural and avicular products to Cuba; the packing list must be approved by the USA Commerce Department, and the bill of lading is issued by a USA shipping company, and the transaction is done through a commercial bank who collects fees and they do the funding from a prepaid account, it is like a secured credit card
All that hysteria about communism is just electoral propaganda; they know what Cuba really is, and they know that the democratic socialists are not going to make any radical changes, as an American ambassador told the soviets: We are aware that you are developing state capitalism. The capitalists have more class consciousness than the working class
If banks can create money from thin air instead of needing depositors, why is the USA secretly giving them a new bailout? They need cash, as the human body needs blood to transport oxygen and nutrients. The writer of this article was a New York Times journalist, and he is an expert in taxation and financing. I have used the word default for rhetoric, but the USA will never go into bankruptcy, and capitalism can not collapse by itself, and Marx never said that capitalism will collapse by itself.
There is a mistake in that article. Argentina did not get a 40 billion bailout; it was originally meant to be a loan through Chase and Citibank, and they did not approve the loan. The US Treasury Department issued a monetary swap of 20 billion, and Argentina used 2.5 billion. They paid it back, and the US government made a huge profit from the transaction. It was not money coming from the workers; it was money invested by the capitalist class
The USA treasurer is a billionaire and an investor in a hedge fund, and he knows the mechanism behind this type of transaction; the USA did not give free money to Argentina
https://english.elpais.com/international/2026-08-06/cuban-government-open-to-the-idea-of-an-arab-investor-to-develop-trump-island.html. Trump Island in Cuba, Hotels, casino, and Golf clubs
So much hysteria about the so-called Cuban communism and possible invasion, and leaders have agreed to make financial investments to produce profit, using foreign investors to cover the reality.
Some workers believed the crap about liberators and national liberation; national liberation has only liberated one ruling class from another ruling class, and with the expansion of capitalism and gangsterism, the nation-state is disappearing
Imposing 50% tariffs on some countries and imposing more sanctions on Iran, who is China, India and Turkey trade partner is going to created a world financial and market crisis, probably the world capitalist class wants Trump to be removed
The trade war has already started with Canada, and the Canadians have answered back with their own 25% and 50% tariffs on American imports. Some Canadian manufacturers and retailers have reduced their prices to fight back against the American tariff. Canada might turn off the electricity in some 20 American states that receive electric power from Canada
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https://www.cbsnews.com/news/canada-imposes-tariffs-us-imports/The new robber barons are coming back to Venezuela.
It does show that the problem was not drug trafficking and communism; the real trafficking is crude oil. That is the real reason why they wanted to overthrow Nicolas Maduro.
They can fool the fools ( los pendejos )
https://www.malaymail.com/news/money/2026/08/30/venezuela-says-oil-deal-with-us-could-put-us19-per-barrel-into-state-coffers/233275
Venezuela says oil deal with US could put US$19 per barrel into state coffersThe New York published an article indicating that the US Treasury is buying gold from the Mexican and Colombian cartels. It is one of the new businesses implemented by those groups, and sometimes it supersedes the sale of cocaine; they also own gold mines
https://www.nytimes.com/2026/04/26/world/americas/us-mint-gold-drug-cartel-colombia.html. US Mint gold drug cartel Colombia
https://www.nytimes.com/2026/04/26/insider/gold-us-mint-drug-cartel.html
https://time.com/article/2026/09/02/trump-1-gold-coins-go-on-sale/
An extensive investigation by The New York Times, published in April 2026, revealed that the United States Mint has been purchasing gold linked to the Clan del Golfo, a notorious Colombian drug cartel and designated terrorist organisation.
This illicit gold is laundered through international supply chains and used by the U.S. government to manufacture high-profile investment coins like the American Gold Eagle and Lady Liberty coins.
The Core Violation: Federal law requires that all U.S. investment-grade bullion coins be produced using 100% newly mined, domestic American gold.
The New York Times found that this statute has gone largely unenforced. Instead, the U.S. Mint acts as the final destination for a global laundering apparatus that moves foreign, illicitly obtained gold into the American market.
How the Laundering Pipeline works:
The Source: The gold is dug from destructive, illegal mines in northwestern Colombia (specifically near Caucasia), operating directly under the control of the Clan del Golfo cartel.
In one instance, journalists discovered a massive cartel-run mine operating directly on and around a Colombian military base.
The New York Times Paperwork Forgery: Local Colombian gold shops buy the cartel-mined gold and falsify records by assigning the metal to registered, legal small-scale miners.
The New York Times: Melting and Exporting: Exporters in Medellín melt the gold into large bars and ship it to international buyers, including an importer in Texas.
The New York Times:
Refining and Mixing: The gold is sent to major mint suppliers—including the Royal Canadian Mint and a refinery in Salt Lake City. These facilities melt the Colombian gold, mix it with other sources, and sell the newly formed bars to the U.S. Mint as legally “American”.
The New York Times
Other Questionable Sources: The investigation by The New York Times also exposed that the U.S. Mint’s supply chain absorbed gold from several other unethical global sources: pawn shops in Mexico and Peru.
A mine in the Democratic Republic of Congo partially owned by the Chinese government.
A company in Honduras that desecrated an Indigenous burial ground to extract ore. The New York Times +1The Fallout and Government
Response. With gold prices hovering near a record $5,000 an ounce in 2026, illegal mining has officially surpassed cocaine trafficking as the most lucrative revenue stream for Latin American cartels. T
The New York Times: Following the publication of the report, the U.S. Treasury Department announced it would initiate a rigorous review of the Mint’s procurement and contracting practices.
While the U.S. Mint initially deflected blame toward its intermediate suppliers, both the Mint and its partners claim they have tightened tracking standards and stopped accepting Colombian gold. However, the Colombian government noted that criminal mining continues to overwhelm state enforcement efforts.
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Before they took Nicolas Maduro, the USA government made a criminal case about Cartel del Sol and gold trafficking. The Cartel del Sol did not exist, but the Venezuelan government was selling gold from the Orinoco basin due to the embargo imposed on its petroleum. China is buying tons of gold because they do not want to have large reserves of dollars
AI is producing its own benefits to the economic ambitions of the capitalist class
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