Mario the lone bookwolf's Reviews > Debt: The First 5,000 Years
Debt: The First 5,000 Years
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by

Mario the lone bookwolf's review
bookshelves: 0-humanities, graeber-david, 0-social-criticism
Jul 30, 2021
bookshelves: 0-humanities, graeber-david, 0-social-criticism
Read 2 times
It´s so unintentional tragicomedy style that each kid can intuitively understand that there is a logical, inbuilt error in money, credit, and debt. As long as there was real, physical money and a limited amount of it, the system worked, but with more humans came paper and digital money and that made endlessly running central bank printing machines, stock markets, speculations,� possible and here we are.
And the mentioned, clever kid will ask: „How can something artificial and more ideologically cemented like fiat money grow forever on a limited system like earth? Won´t that destroy itself on the day exponential growth isn´t possible anymore and cause extreme, irreversible damage until then?�
And we will say: „…“or, more probably: „Shut up and go to your room!�
Yes, I know, my characterization is horrible, super smart kids like that seem improbable and a bit stereotypical, but the little guy did a great job in explaining why our system is totally nuts.
Agnostic nihilistic point of view: The machine is running, no chance to stop it, what will happen will happen, dont´waste time thinking about it.
Debt, credit, and the economic system didn´t get civilized, fine-tuned, and cultivated, the thousand year old creature of banking didn´t become philanthropic, instead the ultimate mammon worshiping machine cult ever has been established over the last centuries, sacrificing and killing everything in its way.
The author is a progressive, provoking anarchist and what he says has more substance, sense, and wisdom than anything one could take from reading economic or political propaganda, because it describes the core of the problem, the development of this scourge of humankind, how to enslave all for the profit of some.
Congratulations to Yale University for firing a brilliant mind like Graeber for saying the truth, that´s what I call a classic example of free wisdom and research in education. It´s too nasty to say things like this, taken from Wikipedia:
„In the year 1930, John Maynard Keynes predicted that, by century’s end, technology would have advanced sufficiently that countries like Great Britain or the United States would have achieved a 15-hour workweek. There’s every reason to believe he was right. In technological terms, we are quite capable of this. And yet it didn’t happen. Instead, technology has been marshaled, if anything, to figure out ways to make us all work more. In order to achieve this, jobs have had to be created that are, effectively, pointless. Huge swathes of people, in Europe and North America in particular, spend their entire working lives performing tasks they secretly believe do not really need to be performed. The moral and spiritual damage that comes from this situation is profound. It is a scar across our collective soul. Yet virtually no one talks about it.�
Or to add a quote that could be used with state instead of man too:
Rich man, poor man
faced each other in a van.
Said the poor man with a twitch:
Were I not poor, you wouldn't be rich
Bertold Brecht
German original
„Reicher Mann und armer Mann
standen da und sahn sich an.
Und der Arme sagte bleich
wär ich nicht arm, wärst du nicht reich.�
To be not sooo pessimistic, I ought mention the bright future with digital currencies, bitcoins, quantum cryptocurrency, blockchain,� that will transform banks and all the other necessities of money that makes it impossible for people to trust each other in something anyone can profit from.
But to end realistically, it might take a while until then and an expansion of the Nordic model over the world.
A wiki walk can be as refreshing to the mind as a walk through nature in this completely overrated real life outside books:
And the mentioned, clever kid will ask: „How can something artificial and more ideologically cemented like fiat money grow forever on a limited system like earth? Won´t that destroy itself on the day exponential growth isn´t possible anymore and cause extreme, irreversible damage until then?�
And we will say: „…“or, more probably: „Shut up and go to your room!�
Yes, I know, my characterization is horrible, super smart kids like that seem improbable and a bit stereotypical, but the little guy did a great job in explaining why our system is totally nuts.
Agnostic nihilistic point of view: The machine is running, no chance to stop it, what will happen will happen, dont´waste time thinking about it.
Debt, credit, and the economic system didn´t get civilized, fine-tuned, and cultivated, the thousand year old creature of banking didn´t become philanthropic, instead the ultimate mammon worshiping machine cult ever has been established over the last centuries, sacrificing and killing everything in its way.
The author is a progressive, provoking anarchist and what he says has more substance, sense, and wisdom than anything one could take from reading economic or political propaganda, because it describes the core of the problem, the development of this scourge of humankind, how to enslave all for the profit of some.
Congratulations to Yale University for firing a brilliant mind like Graeber for saying the truth, that´s what I call a classic example of free wisdom and research in education. It´s too nasty to say things like this, taken from Wikipedia:
„In the year 1930, John Maynard Keynes predicted that, by century’s end, technology would have advanced sufficiently that countries like Great Britain or the United States would have achieved a 15-hour workweek. There’s every reason to believe he was right. In technological terms, we are quite capable of this. And yet it didn’t happen. Instead, technology has been marshaled, if anything, to figure out ways to make us all work more. In order to achieve this, jobs have had to be created that are, effectively, pointless. Huge swathes of people, in Europe and North America in particular, spend their entire working lives performing tasks they secretly believe do not really need to be performed. The moral and spiritual damage that comes from this situation is profound. It is a scar across our collective soul. Yet virtually no one talks about it.�
Or to add a quote that could be used with state instead of man too:
Rich man, poor man
faced each other in a van.
Said the poor man with a twitch:
Were I not poor, you wouldn't be rich
Bertold Brecht
German original
„Reicher Mann und armer Mann
standen da und sahn sich an.
Und der Arme sagte bleich
wär ich nicht arm, wärst du nicht reich.�
To be not sooo pessimistic, I ought mention the bright future with digital currencies, bitcoins, quantum cryptocurrency, blockchain,� that will transform banks and all the other necessities of money that makes it impossible for people to trust each other in something anyone can profit from.
But to end realistically, it might take a while until then and an expansion of the Nordic model over the world.
A wiki walk can be as refreshing to the mind as a walk through nature in this completely overrated real life outside books:
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January 11, 2019
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message 1:
by
Pat
(new)
Jul 31, 2021 03:48AM

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Thanks!
The terrible downstream consequences for real people you mention are kind of what human history looks like.


Thanks!
Yes, it are quite sick systems we hairless, greedy apes are hooked on.

This and his work bullshit jobs are such heavy armor that no fringe pop sociology voodoo economy drivel can attack any of the arguments. Their only chance is to ignore it and hope that the word doesn´t spread.

I.e. The monetary system, if not already broken, may be about to break. This in itself need not be a disaster (but probably will be), as it depends upon the methods, and outcomes of the shift from one monetary system to the next.
That said, I've long held the view that a system that requires continuous (and hence infinite) growth to survive has its own destruction built into it.
I don't think people realise that money is just a system, like the operating system of a computer. Windows can be swapped for Linux, and the machine will still run - but differently.

Negative interest rates, and the easy manipulation of inflation from hyper to meh, causing devastating, mega financial crises and everything between crusades and world wars, show what a fraud the whole financial system thing is.
It probably will be not as easy as to just change the operating system, it will have to be changes so fundamental towards a fairer, post scarcity society that will be deferred as anyhow possible.
Just as Graeber shows in bullshit jobs, more and more useless work will be produced although everything could already be automated. But that would mean taxing robots, machines, and AIs and the people owning them don´t want that, so they´ll keep billions of people working for more centuries although that´s already unnecessary at the moment. It´s an extreme, incredible perversion.


That´s one of the first times we totally agree on something and that´s an impressive proof of the quality of this work.
As you say, looking at the history of central banks and especially who founded and promoted them, there is no reason to give any trust in a system built by extremely dangerous and greedy people.

They defined the desired functions and the architecture follows.

and thereby determined our current and future social and cultural evolution.