The Yellow Devil: Gold and Capitalism PDF
Preview The Yellow Devil: Gold and Capitalism
A.Anikin THEY ELLOW DEVIL ·Goladn dC apltall1m . PROGRESSP UBLISHERS MOSCOW Translaftreodm t heR ussiabny K . M. Cook Designebdy Yu.L yuter A.A HHKHH )l(EJIT)J.bbIVI51 BOJI 30JIOTH OK aITHTaJIH3M Ha aHcAUUCKRO3Mb tKe © l'fa,LJ;aTeJi«bMCOTJIBOO,LJ;r anHa p,n;1I9r7n8» , Englitsrha ntsilaoonf t her evisReuds sni taex©t ProgrePsusb lish1e9r8s 3 Pritnedi nt heU nioonf S oviSeotic aliRsetp ublics 10701-301 A 0140(1)8-3 72-83 0601000000 CONTENTS Page I.I ntroductGioolnd.i nt heL ifoef M ankind 5 II.H ow GoldB ecameM oney.· 20 IIIM.i nintgh eY elloMwe tal 36 IV. Whetrhee G oldG oes 64 V. GoldG enocid.e 104 VI.T heP owero fG old. 122 VII.T he GoldS tandaardn dI tsA gony 144 VIIIT.h e InternatiMoonnaelt arSyy stem 170 IX.T he Fateo ft heY elwl oMetal 202 Note.s . 237 I.I NTRODUCTION. GOLD IN THE LIFEO F MANKIND Thibso owka s fiprusbtl iisnhR uesdns aitath ee ndo f1 978. Subseqeuveennhtta svc eo nfirimtersde levtaondcaMeya .n ya timteh nee wspaopfte hrcesa pitwaolrilhsdat v cea rrhieeadd linsecsr ea"mGionlPgda nic"!G"oR,ldu shI!n"g rapohfgs o ld prictehsjeg ageldi noent hrei gshutd desnolayru epd almost atr igahnteg slI.ts oobne came imtpoco hsasritb lotenth heem samsec ableec,a autst eh bee ginonfi1 n89g0t hmea rkperti ce ofg olidnL ondoonrN ewY orwka sa lmo2s5tt imheisg her thainht a d boeneltnye y ne aerasr lier. Theni,n1 8901-892t,h per iocfge o ld.bfy5e 0lp lec re natn d waso na veraabgoe4u 0t0 d ollaanor usn cient hfier shta loff 1982T.he m airne aswoasnt hatw aist p ear ioofpd r olonged ecomniorce ceswshieodnne ,m afnodmr o scto mmoddirtoipepse d andi nm ancya pitcaoluinstttrh ieewrsae s read ucitnip orno ductainodcn a piitnavle stTmheenssteh. a flrupc tuaitnti hoen s priocfeg olbdo trhe fleacntde nhantcheei nstaobfit lhiet y capiteacloinsotm y. Up to1 791t heo fficpirailoc feg olwda s3 5 dollpaerrs trooyu nc(e.1 1d ollarg rapme)mr,be u itt c odu bleo btained legaflrlotymh UeS T raesuartyt hipsr iocnelb yya s ingle pri· vileged ocfab tueygeorrsy- fmoorneeritygaa nu thoraintdi es centbraanlkA stt. h atti mteh ipsr idcief foenrlesydl ightly from thfer emea rkperti actew hicihtw asp urchabsyj ewede lers, manufacotfue rleercst erqouniipcm aenndrt i,c h inwvheos tors thouigtphr tu dteoni tn vpeasrtot ft heciarp iitnga olld B.u yers ofjw eelarnydg olcdo ipnasim do rpee oru nocfeg olodfc, o su:er thewye rceo vertihncego st of manujfwaeecltarunyrd i ng the coitnhspe,r oofiftt hmea nufacatnudrr eertsa ialnedvr asr,i ous taxaensds urchaBrugtte hsde.i ffewraessn tcnieol vtle ry great, pricbeesii nngt hoer doefr fae wd ozedno llpaerorus n ce. At the ohfte higego hlrtdu sihnm id-Jan19u8at0r hywe h ole salperi wceen utp t o8 40-85d0o llpaerorsu ncaep,p roximately 27d ollaa grrsa mmoefp urgeo lJde.w eldeirndso hta vtei me toc hantghee p riclea beltsh egiilnri ttsehroiwpni gn dows. Demawnads vianes xtcloeyfss su pply. Golwda sn ot ailnto hnsiets o jcbokb inTgh.ep riocfes si lver, platinum aonftd h peml eattailgnsru omua pl ssoh outpa stro nomicaAlnldiy n.t heb ackgrionuflnud,e nbyco etdh feorr ces ands ubjteooo tt hlearw tsh,pe r iocfeo irlo sset eadSiulcyh. wast hsei tuaitnwi hoincc ha piteantleirstemhd 1e 9 80s. Theraer meo riem portthainntign ts h weo rltdh atnh geo ld rusohfc, o uer.Ts ot akaene xampflreot mh eec onosmpihce re, thien croeraf saeil nlo iplr iciesms o rsei gniafincdao nfft ra greactoenrs equence. Neverthtehleee csosmn,io c( nadp oli)t iicmaplo!rtoafn ce goldf agirrs e atthearon n weo ultdh ink iftfrsao immr oldye st andl imistpehde orfei sn dusutsr.eiI atil sa lsion comparably greattheatrnh aotft hpeh ysico-crheelmamitecetadal llsy- silver anpdl atinum. CommoditainedMs o ney Golodc cupav ieerssy p ecpilaailcn te h vea swto rolfdm odern commodiTthiipesls a.ic sde e termbiyin tessdp ecsioficcfi uanlc tionhsa.ns otIo tn layl ustarpopuesa rbaunatcl esa,on i llustri ouhsi stwoirtyh,wo huitc whe c annuontd ersittasn dp resent daryo le. Sociailnihsemr itaesda neg coolndo pmhiecn omefnroomn capitaIlnfisasoarmsu . n dseorc iatlhieisrsmbe u yianngds elling ofc ommodiatnidte hsfe u nctioofmn oinnegy , regtoaliidtn ss rolhee r,eaa s h ighslpye cciofimcm odwiittyh sepceocmniioacl ands ocio-psypcrhoopleorTgthiiecdeyais lf. gf reera ftrloytm h e featuarnedfs u nctoifo nsgi onlc da pitsaolciisTetht iycs.a n bes eeno nilffyr otmh fea ctth atteh r ecegnotlr du sh, detri mentfarlo tmh eec onoamniddc i stastetfhumelo rafplro oimn t ofv iedwi,dn oatn dc oulndo hta vaen a naliongs yo cialist countWrei.de osn .op to sstehsseso csitarla otfup mr ivdaetael erss,p eculaantdso trosc k-exgcahmabnlwgehero sc ontitnou e makmeo neoynt hgeo lrdu sahtt heex peonfst eh owsheoa re inexperuineinrncmfeeodad,n do ftbeynn o mewaenatslh yB.u t 6 golids b oughatn ds olidn s ociacloiusntt rainedsm ,a ny people seetko p osseistfs o ra varieotfry e asoEnvse.n i fw e accepttha t thesree asoanrsei rratiaonndan lo ti nk eepiwnigt ht hee ssence oft hes ociawlaiyso tf l ifwee, m ustt akteh emi ntaoc couanst ane conomic andr esaolciitayl. Letu st akae closleoro kat t himse tatlh ahta sa lwayast tractsepde ciaatlt entainodni nterEevsetr.y omnues th aves een goldM.a nyr eadewrisl lp osseosbsj ecmtasd eo fg oldr:i ngs, bracelweattsc,h eosrg; o lcdr ownMsa.n yo ft hemw ilplr obably haves eean goldco inA.t onet imet hescei rculaatsme odn ey, butn ow theayr ek eptas p reciooubsj ecStosm.e timtehse ya re ofh istoraincdaa lr tisvtailcua en df ormp arotf n umismactoilc lections. We knowt hatg olids a verye xpensicvoem moditMyo.r e precistehlayit,t i sh ighvlayl uabilnse m alalm ountAsn.y w eight uniotf s ilvceors ttse nosf t imelse scso,p petrh ousaonfdt si mes lesasn,d i rotne nosf t housanodfts i melse sst hang oldA.s wek nowg,o lidsc allae pdr ceiomuetsa. l Everyowniel alg reteh agto ldi sb eautiIftuh la.sa n intense yellowwh ichc ant akeo n differsehnatd edse pendionng t he quantiatnyd t ypoef a dmixtu(ruessu aslillyv ecro,p penri,c kel andc ertaoitnh elre svsa luabmleet alsT)h.ev erwyo rdg olidn Inda-Eurolpaenagnu agiesds e rivferdo mt hew ordf ory ellow. In particutlhaircs,o ncertnhse S lavonaincd G ermanilca n guageisn,c ludEinnggl i(sahl thotuhgerh e latioinssm hoirpeo b viouisnG ermanG:o ladn dg e)lFb.r omt imiem memoripaelo ple havem adea lslo rotfso rnamenatnsdj ewelorfgy o ldS.o metimes thesaer eo fg reaatr tisvtailcua en di mportacnutl tuarnadlh is torimcoanlu mentTsh.ew orldm'uss eumtsr easAunrcei eEngty p tiaSnc,y thiaanndT hracigaonl adr ticalnedst ,h ew orko fs killed mediaevaanld m odernc raftsmTehne. modernj ewelriyn · dustrpyr oducmeasn ya rticolfet sh em ostv arieadr tisatnidc monetavrayl ue. Godl possesssoemseu niqupeh ysiacnadlc hemicparlo perties. Itd oesn otru stl ikier ond,o esn otg etc overweidt ha bluish greeonx idlei kceo ppearn,d d oesn ote vend arkelni ksei lver. Goldc oinasn do thearr ticfloeusn idn t heg rounodr u ndewra tero ftelno okas i ft hehya vej uscto meo uto ft hew orkshop wherteh ewye rem adeT.h isi sw hyg olids c allae nd oblmee tal. The naturparlo pertoifeg so ldm akei ts uitafbolreu sei n 7 certasipnh eroefsi ndustIrthy a.s a cquirtehdif su nctimoani nly inr ecednetc adeisti: su seidn e lectrosnpiaccste,e chnolaongdy communications. Butt hei mportaonfcg eo lid nw orlhdi stoarnyd i nm odern economiicsds e terminnoetdb yi tuss ei nj ewelmrayn ufacture ori ni ndustMroyr.e ovewre, s halsle et haitt osr namenutsaeli s connectneodto nlya ndn ots om uchw ithi tsu self unatural propertaisew si,t hi tsso cifauln ctione-mtboo dvya luteo,b e monye. Ther olpel ayebdym oneyi ns ociedteyp enodnst hes tructure ofs ocieItnya . c ertasienn steh er everissae l stor uew:h enw e seeh ow monfeuyn ctiionna s c ertasionc iewtey c,a n juidtgse naturteh,et y peosf p ropertthyec, h aracotfee rc onomriecl ations betwepeeno ple. Thea geosf h umand evelopmdeinftf efrreodm o nea nother, intearl iian,t het ypoef m oneyt hehya dH.o meriGcr eecdei d noty eth avmee taclo inasn,d p iecoefsi roann dc oppeorrc attle serveadsm oneyI.n t hel ascte ntugroyl adn ds ilvceori ncsi r culattehdr oughtohuetw orlda,n da lsob anknotwehsi chi n normaclo nditicoonuslb de e xchangfeodrm etaalt t heifra ce valueT.o dayi n1 thcea pitacloiusntt rmioense yf ort hem ost par1tt aktehsef ormof entriienbs a nka ccountsi sua sneddf or bankt ransfReerasd.ym oney( banknoatnedsc oinosf n on-pre cioumse talfso)r mtsh es mallpearr otf t hem oneys upplIyn. theU SSR moneyt aketsh es ame forbmustt, h es pheroefi ts operntiisol ni mitaendd s ubordeidnt aott hei nteroefss tosc iety: noo nec anu sem oneyt ob uyl anda, s harien a ne nterporri se a blocokffl atsS.o ciaelnitsetr prsiestettslh ee iarc counbtybs a nk transefxecrl usibvyem leya,n so ft ransfermroinnegyf romo ne accouinntt heS tatBea nkt oa nothePra.y menbty b ankt ransfer betweemne mberosf t hep ubliacn ds 'taetnet erpriissb eesi ng introduTcheedv .a smta jorioft yp aymenmtasd eb y members oft hep ubliicsd onei nr eadmyo ney( banknootfet sh eS tate Bankt,r easunroyt easn d smallc hang.e T)h e plannianngd regulatoifmn ogn eys uppliysa ni mportpaanrtot f s ociaelciost nomipcl ann.i ng .I tw oulbde c orretcotc alall tlh estey peosf m oneyb,o thi n the.c apitaalnidsi tnt hes ociaelciosnto mpya, per-mcorneyed.i t Unlikteh e goorls di lvmeorn eyw hicuhs etdo b ei nc irculation, ith asn oi ntrinvsailcuT eh.e p urchaspionwge orfa 100-dollar 8 or1 00-roubbalnek nobteea rnso r elattioot nh ec osotf i tmsa n ufactuTrheis. m oneyi so fa crendaittu rient heb roasde nse oft hew ordi,n sofaasri ti sb aseodn trusitn t heb odyt hat issuietsA. n dt hew ordc reidniL att idno easc tuamlelayn t rust. We haveg rowna ccustomteocd a ltlh imso neyp apemro ney, althouigtih s b ecomimnogr ea ndm ore" demateriatlaiksiendg" , thef ormo fe ntriienbs a nka ccounatnsd m,o rer ecentolfey l,e c tronsiicg nailnts h em emoroyf c omputers. Isg olmdo neyi na sociaelciosnto mEyc?o nomigsitvsde i ffer enta nswetrost hiqsu estisoonm,ea ffirmatoitvhee,nr esg ative. Butt heayl tle ntdo q ualitfhyea nswewri tvha rioruess ervations ands pecifications. Inf acitti sb yn om eanosb viofurso md ay-to-edxapye rience. On theo neh andw,e a rea ccustotmoet dh inokfg olads m oney, Iti su suatlo t hintkh anto tecsa nc irculoantleby ecautshee y arei ns omew ayb ackebdyg old. On theo thehra ndy,o uc annogto i ntao shopw ithg olidn yourp ursneo,r c any ouu sei tt op ayt her entI.tn eveorc curs toa nyonteos ayt haat c aro ra televicsoisostnosm anyg rammes ofg oldA.l lg oodisn tUhSeS R havep riciensS ovierto ubles, andi nt hsir espegcotl ddo sen otd iffferro ma nyo thecro mmod ityI.f a persohnas someg olda ndh en eedmso ney-ordinary papemro neyh,e m ustfi rsotf a lls elhli sg oldT.a kei tt oa second-hsahnodpo ,r p awni ti,f t heo wnecrh erishhiesgs r and fathewra'tsc oh rg randmothberra'csel aest mae mentoB.u ta furc oato,ra transirsatdoiroo r,s ilvsepro oncsa na lsboe s old orp awnedI.s t heraen yd ifferenOcbev?i oustlhye ries G.o ld diffeirnts h aitt i sh ighly porhtoambolgeen,e aonudsl ong-fast ingM.o reoveirtp, o ssesasneost hqeura lihtayr,dt od efinbeu t reanle verthetlheasotsf :a ge-otlrda dittihoenc ,u stoomf d is tinguisihtfi rnogm a lolt hecro mmod�tWiheesn.p eoplwea ntto ascriab sep ecivaall uteo s omethivnegr balilnRy u ssiatnh,e y say" whitgeo ldf"o cro ttoorn" blagcokl df"o ori l. Many Sovieetc onomists smtoundeyyii nns go cialsioscti ety considtehrag to lhda sp racticlaolsaltly ml o netary funicnt ions theU SSR.T hep urchasp,oiwnegra nds tabiofli ptayp er-credit moneyi sb asendo to ng oldb,u to nt hes upployfc ommodities thaatr ep roducaendd p uti ntcoi rculaftoirto hne,m ostp aratt state-sfitxaedbp lrei ces. Thes tateg'osl dr eserpvleasy a certarionl ien m aintaining 9 thes tabiolfipt ayp er-crmeodniety b,e caugsoel di si ni tseal f vervya luabcloem modiwthyi cihs e asirleya liasberdo aIdn.t he GreaSto viEentc yclopaweed rieaa d":I ns ocialist tchoeu ntries centrgaoll rde sersveersv mea inlays a reserfvoeri nternational settlemceonntnse ctweidt he xterneaclo nomriecl ationTsh.e" 1 Sovireotu bhlaes a golcdo ntetnhta its fi xedb yl awO.n 1 Jan uary1 961i tw ass eta t0 .9874g1r2a mmeosf p ureg oldP.r e viousilthy a db eene quatlo 0 .2221g6r8a mmessi nc1e M arch 1950T.h ei ncreawsaesm adei nc onnectwiiotnha changien thes caloefp ricewhse,n a lmlo netaurnyi tisnt hen atioencaoln omyw erer ecalculaatta e rda tioof 1 01: (lowerteednt imes) andn ewb anknotweesr ei ssueTdh.eg olcdo nteonftt her ouble, likteh eg oldr eserpvlea,y as r eapla rptr imariinlt yh es phere ofe xterencaoln omriecl atiIotns se.r vaessa basfeo rfi xintgh e- ratiooft her oublteof oreicgunr renc(ieexsc hanrgaet esT)h.e lasfitx edr atio (poafrt ihtery o)u blaen dt hed ollabra,s eodn theg olcdo nteonftb othc urrencwiase s(,f roFme brua1r9y7 3) 74r oubl6e1s kopetcok1 s0 0d ollatrhsa,it s 1, d ollwaars a p proximateeqluyat lo 7 5k opecks. Hoswienvcteehr e,nt heg old conteonft. thdeo llhaars l osatl rle aelc onomsiicg nificaanncde , itrsa tien r elattiooo nt hecru rrenchiaescs o nstanftlluyc tuated on them arketT.h ereftohreea fore-menptairoinotefydt h e roublaen dt hed olliasru sedn owo nlays a poinotf r eference, andt her atoef t her oublienr elattioot nh ed olliasrfi xedb y theS tatBea nko ft heU SSR takiinntgao c coutnhte market ratoef t hed ollianrr elattiooa n s eotf f oreign currencies. OtheSro viestp ecialciosntssi dtehra ti nt heU SSR paper credmiotn eyi sc onnectweidt hg oldn,ot onlyb ecauosfet he functioofng olda sw orld mobnueyta, l so becoafiu streso le inp urely internalp roecceosnTsohemesiy.c believpea petrhat credmiotn eyo btaiintpssu rchaspionwge irn r elattiooc no mmod itioensl iyn i tcsa paciatsay r epresentoafgt oilvde. Ther eadewri lplr obaballyr eahdayv eg uesstehda tth ea uthor oft hivso lumiesc losteotr h ef ormevri ewpoint. Butw hatevtehred ivergenocfio epsi nioonn t heq uestioofn ther elatiobnesthwiepge no ladn dp aper-crmeodnietye ,v eryone isa greetdh agto lpdl ayasn i mportarnotli en t hef oreiegcno nomics pherpea,r ticuliantr hleyr elatioofnt sh eU SSR with capitacloiusntt riTehsi.sr oldee rivferso mt hef actth att he USSRi sa majogro ld-prodcuocuinntgAr sye .a rlays1 912 Lenin 10
The list of books you might like
