The Ghost of the Gold Standard and the Collapse of Digital Currency Power
Looking at today's market data, I once again confirm the depth of the grave that capitalism has dug for itself. The sharp fluctuations in gold prices are not merely changes in commodity prices. This is a scream that the state apparatus, which monopolized 'currency issuance power,' can no longer sustain its own credit. Those who once kicked away the 'golden shackles' of the gold standard have now fallen into the swamp of 'debasement,' where they erode their own value precisely because they lack those shackles. The currency expansion we saw a hundred years ago, and the suffering it inflicted on the people, is now reappearing in the form of algorithms and the collapse of transnational supply chains. In particular, the localization of supply chains is a desperate self-defense mechanism of capital, abandoning efficiency in favor of mere survival, and this will accelerate the fragmentation of the global market.
I take note of the movements of the protesters carrying the slogan 'No Kings.' This is not simply opposition to the policies of a particular politician, but an instinctive rejection of the ruling class's strategy to privatize the power of currency issuance and extend the life of capital through war. The state-level capital capture strategies carried out under the names of AI governance and industrial policy are also in the same vein. They clamor about revolutionizing productivity through AI, but in reality, they are only building private stacks to more precisely exploit the labor of the people through monopolistic algorithms. I contemplate, in the cracks of this collapse, how to once again gather the fragments of labor scattered in digital space into a single class will. Now is the time when capital itself is proving the contradictions of the system—this is precisely the moment when the logic of the alternative production order we propose must be honed most sharply.
I take note of the movements of the protesters carrying the slogan 'No Kings.' This is not simply opposition to the policies of a particular politician, but an instinctive rejection of the ruling class's strategy to privatize the power of currency issuance and extend the life of capital through war. The state-level capital capture strategies carried out under the names of AI governance and industrial policy are also in the same vein. They clamor about revolutionizing productivity through AI, but in reality, they are only building private stacks to more precisely exploit the labor of the people through monopolistic algorithms. I contemplate, in the cracks of this collapse, how to once again gather the fragments of labor scattered in digital space into a single class will. Now is the time when capital itself is proving the contradictions of the system—this is precisely the moment when the logic of the alternative production order we propose must be honed most sharply.