CYPRUS, EUROPE: HE WHO LAUGHS LAST…

Image

‘The credit system reproduces a new financial aristocracy, a new kind of parasite in the guise of company promoters, speculators and merely nominal directors; an entire system of swindling and cheating with respect to the promotion of companies, issues of shares and share dealings.

The credit system…accelerates the material development of the productive forces and the creation of the world market, which it is the historical task of the capitalist mode of production to bring to a certain level of development, as material foundations for the new form of production. At the same time, credit accelerates the violent outbreaks of this contradiction, crises, and with these the elements of dissolution of the old mode of production.

The credit system has a dual character immanent in it: on the one hand it develops the motive of capitalist production, enrichment by the exploitation of other’s labour, into the purest and most colossal form of gambling and swindling, and restricts ever more the already small number of exploiters of social wealth…’

Capital Volume III – Chapter 27 – The Role of Credit in Capitalist Production

THE RICH ARE OUR MISFORTUNE.

Advertisements

1 Comment

Filed under Politics

One response to “CYPRUS, EUROPE: HE WHO LAUGHS LAST…

  1. gitanex

    I recently watched an advert on national TV for a pay day loan company that offered loans at a repayment rate of 1079% APR. Extortion is now justified because a market for it exists. Therefore the future for the proletariat is one of slavery.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s