On Hamiltonian Federalism and Friedrich Nietzsche (Pt. III of III)

“Thus the man who is responsive to artistic stimuli reacts to the reality of dreams as does the philosopher to the reality of existence; he observes closely, and he enjoys his observation: for it is out of these images that he interprets life, out of these processes that he trains himself for life. It is not only pleasant and agreeable images that he experiences with such universal understanding: the serious, the gloomy, the sad and the profound, the sudden restraints, the mockeries of chance, fearful expectations, in short the whole ‘divine comedy’ of life, the Inferno included, passes before him, not only as a shadow-play — for he too lives and suffers through these scenes — and yet also not without that fleeting sense of illusion; and perhaps many, like myself, can remember calling out to themselves in encouragement, amid the perils and terrors of the dream, and with success: ‘It is a dream! I want to dream on!’ Just as I have often been told of people who have been able to continue one and the same dream over three and more successive nights: facts which clearly show that our innermost being, our common foundation, experiences dreams with profound pleasure and joyful necessity.”

-Friedrich Nietzsche, The Birth of Tragedy, ca. 1872

Part III of “Hamiltonian Federalism and Friedrich Nietzsche” covers a vast range of topics that all share the same set of issues with the Liberal Capitalist Fractional-Reserve Banking System. One could say that I was trying to pierce the metaphysics of a recurring pattern that ended up becoming a sort of Divine Comedy about the social and political ramifications of Fractional-Reserve Banking. Therefore, I have decided to break everything down into three Unities of Opposites:

  • “Federalist Quadrille” sets the stage for the point of origin when the US Fractional-Reserve Banking became synonymous with the US Military-Industrial Complex, tracing its developments from the Civil War to the First World War. It delves into how the Gilded Age came into being and discuss its significance for the “Death of Bretton Woods” proclaimed by the SMP Compendium.
  • “Urban and Rural Life” addresses how the Fractional-Reserve Banking System contributed to the rampant Producerism and Consumerism in the US, both of which were made possible by Liberal Capitalist attempts to restore the Gold Standard. The Intent is to discuss about whether it is possible for America (and the world by extension) to revisit the concept of the “shopping mall” by rediscovering the Implicit Intents of its Socialistic creator, Viktor Grün (born Viktor David Grünbaum). 
  • “Crosses of Bitcoins and MMT” takes its name from the Cross of Gold Speech by William Jennings Bryan towards the end of the 19th century. Here, I discuss about the potential rivals of the Compendium’s Reciprocal-Reserve Banking System, Cryptocurrencies and Modern Monetary Theory (MMT). The Intent here is to address how and why both not only fail to resolve the problems of Fractional-Reserve Banking, but also embolden it insofar as they represent two halves of this Economism forewarned by Vladimir Lenin.
  • Finally, “Tourism and Terrorism” has me tying together some important loose ends scattered throughout the previous three. Nowhere in America is anyone going to find elements all three Unities of Opposites coexisting than at the World Trade Center in Lower Manhattan. Continuing with my overriding argument about why the Fractional-Reserve Banking System has remained unchanged in spite of the changeover from the Silver and Gold Standards to the Debt-Standard, we must realize that there is a growing instability and volatility between Fractional-Reserve Banking and Neoliberalism. It is a very recent phenomenon involving the Y2K Bug, the 9/11 Attacks, the Great Recession, and the Coronavirus Pandemic.    

Federalist Quadrille

“Incidentally, those who were shocked by Bush the Younger’s shout that we are now ‘at war’ with Osama should have quickly put on their collective thinking caps. Since a nation can only be at war with another nation-state, why did our smoldering if not yet burning bush come up with such a war cry? Think hard. This will count against your final grade. Give up? Well, most insurance companies have a rider that they need not pay for damage done by ‘an act of war.’ Although the men and women around Bush know nothing of war and less of our Constitution, they understand fund-raising. For this wartime exclusion, Hartford Life would soon be breaking open its piggy bank to finance Republicans for years to come. But the mean-spirited Washington Post pointed out that under U.S. case law, only a sovereign nation, not a bunch of radicals, can commit an ‘act of war’. Good try, G.W. This now means that we the people, with our tax money, will be allowed to bail out the insurance companies, a rare privilege not afforded to just any old generation.”

-Gore Vidal, Perpetual War for Perpetual Peace, ca. 2002

Resuscitating the Federalist Party vis-à-vis Hamiltonian Federalist Socialism demands a Unity of Opposites. Henryist Anti-Federalism has four of the nine required ideologies–Anarchism, Ultramontanism, Environmentalism, and Nationalism. Hamiltonian Federalism also has four of the nine required ideologies–Authoritarianism, Statism, Traditionalism, and Socialism. What unites them is of course Conservatism. However, a delicate combination of critical and creative thinking is required because average Americans are going to be appalled over what they perceive as grotesque contradictions of US politics. They are never told in their US history classes about the obscure historical realities that define Hamiltonianism nor are they truly compelled to learn that America is in actuality a Socialist nation. Their US history classes rarely make it to contemporary decades, preventing any serious development toward an intimate understanding of why the 20th century lives on in this century.

US History textbooks are notorious for omitting key historical facts that ought to be understood due to their implications for the Union. Seriously, am I the only one in these United States who knows why the Gilded Age happened? That what began the Gilded Age marked the “Death of the Silver Standard” in 1873, a whole century before the “Death of Bretton Woods” in 1973? This widespread ignorance has led many to believe that because the Civil War ended the Chattel-Slavery of the Southern States, “Slavery ceased to exist” when the Union entered the Gilded and Progressive Eras. But the Debt-Slavery of the Northern States, which predated the Civil War, continued because the Slave Morality of Liberal Capitalism survived. All kinds of Americans knew this back in the Gilded Age as part of their justifications to get the US Currency off the Gold Standard. How many Americans are aware of the Cross of Gold Speech from the Anti-Federalist personality of William Jennings Bryan, the coalescence of Nationalism and Socialism by Edward Bellamy, or in the Anti-Consumerist and Anti-Producerist rhetoric of Thorstein Veblen (more on him and his works later)?  

The Gilded Era in US History was a byproduct of extraordinary circumstances related to the “Great Depression.” Yes, that was the original name Americans at the time gave to refer to the Long Depression of 1873-1896. After the Prussians emerged victorious in the Franco-Prussian War, Prussia reunified a portion of the German-speaking, eventually and rightfully eliminating the Reichsthaler (Reich Dollar), which was pegged to the Silver Standard. In response, the Jeffersonians inside of Congress passed the infamous Coinage Act of 1873, switching the US Currency’s Peg from the Bimetallism (Silver and Gold Standards) to the Gold Standard. As with anything involving the Gold Standard, there is never enough Gold in existence.

The Jeffersonians’ Fractional-Reserve Banking System rapidly lost a massive Quantity of Kapital and also expanded its Quantity of Schuld, which is the exact opposite of what are optimum conditions for Liberal Capitalist Finance (“the greatest Quantity of Kapital for the least Quantity of Schuld”). This massive Quantity of Schuld was caused by the rapid Speculation-fueled expansion of US Railroads beyond the Mississippi River, the Quantity of Schuld overburdening businesses in the urban cities and the farms in the rural countryside. The “Panic of 1873” was at hand, becoming the first international financial crisis in Western economic history. What had essentially happened was a Financial Contagion on par with the actual Great Depression of the early 20th century and the Great Recession of the early 21st century. The entire Western world, including Prussia, was badly affected by this single decision.

That all kinds of Americans in the Gilded and Progressive Eras were caught in an existential crisis over an inability to distinguish Hamiltonian Federalist Socialism from what I had referred to in the SMP Compendium’s Conclusion as “Madisonian Federalist Socialism?” Why the Union celebrates Labor Day on “the first Monday of September” as opposed to May 1?

The Jeffersonians in both halves of the Democratic-Republican Party understood the ramifications of Hamiltonianism returning to forefront of the American Way of Life, even if the people going on strike did not realize it themselves. They knew that the Implicit Intent behind why Socialist nations and parties celebrate Labor Day on May 1 was to honor the Americans who died for a 40-hour work-week in a forgotten tragedy known as the Haymarket Massacre of 1886. The decision to introduce Labor Day as a Federal holiday on the first Monday of September was authorized under the presidency of Grover Cleveland in 1896. Cleveland never allowed Labor Day to be on May 1 because of the circumstances related to the Haymarket Massacre.   

Within the same timeframe, the “third best-selling” novel in America after Uncle Tom’s Cabin and Ben-Hur: A Tale of the Christ of the period became renowned for its coalescence between American Nationalism and American Socialism in 1888. Edward Bellamy’s novel, Looking Backward: 2000-1887, was set in Boston during the year 2000. In it, America’s Nationalistic tendences were unfurled, but its Socialistic half left much to be desired as Bellamy subconsciously wanted American Socialism to go beyond Utopian Socialism and Scientific Socialism. Looking Backward also contained subtle clues from Bellamy that the Fractional-Banking System was going to be consolidated by the Jeffersonians in charge of the Federal government.

Is this why 1913 marked the opening phases of the Jeffersonian Empire of Liberty? It is peculiar for everything past 1913 to be a heavily-censored presentation of historical realities because most US history textbooks present the decades afterward as though it were a dystopian Utopia or utopian Dystopia. Some of the more egregious conspiracy theories and misconceptions in the American Way of Life can be traced back to this year. What happened that year was the inception of Income Taxation and the potential wartime implications that it would later have for World War I as well as the conversion of the US Congress to Councils to the “US Congress of Parliaments.” I had stated in Part II of “Taxation and the Work-Standard” that Income Taxes were never meant to be about a so-called “Redistribution of Wealth”; for it was the first step to preparing Fractional-Reserve Banking for the Total Mobilization of Production for Profit. Debt-Slavery soon became normalized in the First World War thanks to the Debt Ceiling and Deficit Spending paving the way for the subjugation of the whole world by the Jeffersonians towards the end of the 20th century.

Everyone free is to agree or to disagree with my counterfactual view of 20th century by insisting that the 21st century is its continuation. After all, there was Absolute War in the 1910s, 1940s, and 1960s; Absolute Peace in the 1920s, 1950s, 1980s and 1990s; and the 1900s, 1930s and 1970s being somewhere between Absolute War and Absolute Peace. The 1900s, 1930s and 1970s are often well-disliked, historians describing the American people as the tightrope walker between the Slave Morality of the Democratic-Republican Party and the Master Morality of the Federalist Party. But they can be reinterpreted as the Union’s greatest moments: everyone during those decades desperately searched for alternatives beyond the desert-like countryside and urban forests, crime-ridden street corners and smoke-filled rooms. 

Urban Life and Rural Life

“One of the obvious danger signs that we may be on our way to bring into existence the ideal of the animal laborans is the extent to which our whole economy has become a waste economy, in which things must be almost as quickly devoured and discarded as they have appeared in the world, if the process itself is not to come to a sudden catastrophic end. But if the ideal were already in existence and we were truly nothing but members of a consumers’ society, we would no longer live in a world at all but simply be driven by a process in whose ever-recurring cycles things appear and disappear, manifest themselves and vanish, never to last long enough to surround the life process in their midst.”

-Hannah Arendt, The Human Condition, ca. 1958

Why are we crammed into overcrowded cities and leaving others to die in urban decay? Why should we allow speculators to subjugate them by dictating the Prices of their land, houses, tenants and buildings so commercial banks can create Kapital out of thin air? Why must we be forced to abandon our homes and apartments in search of Meaningless Work for Kapital? Why must the Midwest, Great Lakes, and New England States continue to suffer, its people’s communities deported to the Southern States and the Southwest? Why are Californians exploiting the Texans and the Texans exploiting the Californians just to appease the Jeffersonians among them?

The Total Mobilization of Production for Profit, which had been helping the Jeffersonians’ Fractional-Reserve Banking System grow in force and mass between the Gilded and Progressive Eras, had realized the vision of mass production for mass destruction, mass creation for mass consumption that nobody. Either the Union produced more than what it consumes or else it consumes more than what it produces: such is the tragedy of Producerism and Consumerism forewarned by Thorstein Veblen. The 1960s Counterculture should be reinterpreted as the logical response to an emerging existential crisis (and later, environmental crisis) posed by suburban life splitting urban life and rural life into two different ‘Americas’.

The Vietnam War only made this more obvious. The suburban sprawl throughout the Union had been fueled by the greatest Quantity of Kapital for the greatest Quantity of Schuld. The diligence of Dwight Eisenhower was able to keep the US National Debt at the cost of leaving behind a rather dull and uninspiring presidency. Whole towns and cities were now capable of wiping themselves off the map voluntarily by allowing their local governments to Default on their Schuld.

But how was it possible for Suburbia to be able to sustain the kind of lifestyle choices conducive to Producerism and Consumerism? What sort of construction project is tantamount to ensuring that there shall be false dialectical conflict between American urban life and rural life (Read: East and West Coast States vs. the Rest of the Continental United States), but also between Corporate America and Small-Town America (Read: Wall Street vs. Main Street)? Why is there a growing Nostalgic sentiment toward this particular construction project? Also, how shall I proceed with I am about to propose towards the end of this Blog post?

Older generations of Americans will know that I am referring to the shopping mall, but not the kind that they have been bred to recognize in the late 20th and early 21st centuries as a place of Consumerism and Producerism. I am of course talking about the Shopping Mall as it was originally conceptualized by the Austrian Socialist Viktor David Grünbaum, otherwise known as “Viktor Gruen.” Grünbaum escaped Austria in 1938 as a dissident of the Hitlerists when they allowed Austria to join the German Reich in the Anschluss that year. Upon arriving to America, he realized that America in the Great Depression needed a “Third Place” for Americans to engage in Economic Socialization.

His Germanic Shopping Mall was devised as a way to recreate the primordial city and town squares of the German-speaking world, allowing all European Americans to relive and recall why they have and will always be Europeans on American soil. And if I had a personal favorite, it will always be “King of Prussia Mall,” where the Hegelian Thesis and the Hegelian Antithesis were unconsciously reapplied in its construction, as evidenced by a recent renovation in 2016 uniting them into a Hegelian Synthesis. Who is this Pennsylvanian King of Prussia really supposed to be, if not that Socialist who had once declared: “I Am the First Servant of My State”?

Contrary to Jeffersonian propaganda, the Germanic Shopping Mall still has the latent potential to provide necessary infrastructure for the young people governing their SSE (Socialist Student Economy). It truly is the real Third Place in America where I can reimagine it as a Castle, a Palace a Citadel housing Heliopolis Internet Cafés; Offices of the Federal Kontore; Federal-State Commissaries; EGOs (Extracurricular Guild Occupations); Student Council; Student Infirmary/Apothecary and Student Patrol and Intelligence Services; Art, Film, Music, and Gaming Studios; the Cinemas and Theaters determined to compete with Hollywood and Broadway; the Maid Cafeteria with chandeliers and uniformed maidens playing Nietzschean music on pianos; Dormitories and Barracks to accommodate transfer students and Youth Hostels for those on Spring Break. Will there be complications? Of course, but why wouldn’t there be any to speak of?   

A Germanic Shopping Mall was always about providing them a city square or town square for congregating, socializing, organizing. This Germanic Shopping Mall is capable of becoming something far greater than just a city or town square, let alone some Americanized alternative to the Soviet and Eastern Bloc Palaces of Young Pioneers and Schoolchildren. It can and it shall become either a Castle, a Citadel or a Palace, revitalizing Main Street and redeeming Wall Street. The Parking Lots of Automobiles, originally the Livestock Stables of Horses, Motor Pools for MATVs and Airfields for C-Wings. Why, those surrounding suburban houses and shopping centers are even capable of being those European-like towns and villages to go with all of this infrastructure. Given the right degree of critical and creative thinking, pretty much everything described above is capable of becoming an historical reality with the Work-Standard.  

Crosses of Bitcoins and MMTs

“In its bearing on the question in hand, the ‘social problem’ at large presents this singular situation. The growth of business enterprise rests on the machine technology as its material foundation. The machine industry is indispensable to it; it cannot get along without the machine process, But the discipline of the machine process cuts away the spiritual, institutional foundations of business enterprise; the machine industry is incompatible with its continued growth; it cannot, in the long run, get along with the machine process. In their struggle against the cultural effects of the machine process, therefore, business principles cannot win in the long run; since an effectual mutilation or inhibition of the machine system would gradually push business enterprise to the wall; whereas with a free growth of the machine system business principles would presently fall into abeyance.”

-Thorstein Veblen, The Theory of Business Enterprise, ca. 1904

Today, the Gold and Silver Standards are dead. The Work-Standard’s Reciprocal-Reserve Banking stands alone against Fractional-Reserve Banking. For what are Fractional-Reserve Banking’s other alleged opponents, Cryptocurrencies and MMT, if not mere diversions that prevent anyone from realizing a serious attempt at actually introducing an Interest-free bank loan? In the decades since the Death of Bretton Woods, the Great Depression and a century of World Wars we have had:

  1. Rural families who, struggling to pay the Quantity of Schuld from their Mortgage, must overwork themselves by acquiring an obscene Quantity of Kapital. The farmhand and the soil suffer as the Madisonian Federalists are sent in to Repossess the farmland under the Incentive of a Foreclosure. “Get big or get out,” the Madisonians dictate.
  2. Urban families who, struggling to pay the Quantity of Schuld from their Mortgage, must overwork themselves by acquiring an obscene Quantity of Kapital. The home and the children suffer as the Madisonian Federalists are sent to Repossess the home and even the children in some cases under the Incentive of a Foreclosure. “Get big or get out,” the Madisonians dictate.
  3. University students who, struggling to pay the Quantity of Schuld from their Apartment Rent and Student Loan, must overwork themselves by acquiring an obscene Quantity of Kapital. Their school life and social life suffer as the Madisonian Federalists are sent in to Repossess the apartment and their education in some cases under the Incentive of Foreclosure. “Get big or get out,” the Madisonians dictate.
  4. Elderly and suburbanites who, struggling to pay the Quantity of Schuld from their Automotive Loan and Medical Bills, must overwork themselves by acquiring an obscene Quantity of Kapital. Their health and their automobile are also Repossessed by the Madisonian Federalists based on the Incentive of a Foreclosure. “Get big or get out,” they dictate.
  5. And socially-minded entrepreneurs who, struggling to pay the Quantity of Schuld from Business Loans and Tenant Rents, must overwork themselves by acquiring an obscene Quantity of Kapital just like the other Americans who foreclosed before they did. The Madisonian Federalists also do not care about them, even when those same entrepreneurs were deceived that they were allegedly the privileged class of Liberal Capitalism. “Get big or get out,” they dictate, Repossessing the Foreclosed Enterprise.  

All of these seemingly unrelated events share the same point of origin, which is the fact that each one became a victim of Fractional-Reserve Banking. Any one of them could be a potential advocate of the Work-Standard. However, at the same time, any one of them could also become a potential advocate of Cryptocurrencies and MMT. Cryptocurrencies and MMT stemmed from the Last Men from the Death of Bretton Woods, Friedrich von Hayek and Milton Friedman. Friedrich Nietzsche and Vladimir Lenin had warned to reject the Last Men of Economism. Is this a contradictory statement or a Unity of Opposites between von Hayek, Friedman and Alfred Mitchell-Innes and Georg Friedrich Knapp, Irving Fisher and John Maynard Keynes?

To quote Mitchell-Innes, “things are not the way they seem” with Cryptocurrencies and MMT. The SMP Compendium alludes to this historical actuality all too very well. Marshall correctly concluded that if Kapital cannot exist without Schuld, neither will Schuld exist without Kapital. He who deals in Schuld is also dealing in Kapital, becoming the Bourgeois Beast against the Proletarian Übermensch described by Lenin as the Rentiersstaat (Renters’ State). Lenin specifically warned about why Kapital and Schuld are one and the same in Imperialism, the Highest Stage of Capitalism, arguing how Kapital and Schuld provide justifications for Usury as part of the Liberal Capitalist conception of Finance. A nation-state of renters is forever bound for national suicide through “Rent-Seeking.” Rent-Seeking is what happens when a nation-state full of renters deceive themselves into becoming the Debt-Slaves in the Total Mobilization of Production for Profit, overworking themselves to yield the greatest Quantity of Kapital for the least Quantity of Schuld.      

Milton Friedman had consistently believed that Liberal Capitalist Finance should uphold the argument that Bretton Woods is Dead and that only Financial Technology can provide the basis for creating new values for Liberal Capitalism as “Neoliberalism.” Liberal Capitalist Finance must be salvaged from Fractional-Reserve Banking through a combination of “Universal Basic Income” (UBI) and “Quantitative Easing.” Control the Quantity of Kapital in existence and one will in turn control the Quantity of Schuld in existence under the Incentives of Supply and Demand. The Double-Entry Account Bookkeeping of Fractional-Reserve Banking is being challenged by the “Job Guarantees of the Modern Monetary Theory” that came of age in the Great Recession.

In Modern Monetary Theory, there are no limits to how much Kapital in existence insofar as the Quantity of Kapital has always been pegged to the Quantity of Schuld from the Debt-Slaves in the Rentiersstaat. It is a “Debt-Standard” where Schuld itself becomes a Commodity to buy and sell Debt-Slaves in varying Prices with Job Guarantees. All that matters is making sure a Rentiersstaat does not commit national suicide by Sovereign Default. To ensure that the Quantity of Kapital in existence does not outpace the Quantity of Schuld in existence, a Rentiersstaat taxes and spends to keep Neoliberalism going indefinitely, deterring national suicide by Sovereign Default.

Friedrich von Hayek had consistently believed that the Liberal Capitalist Finance did not originate in Fractional-Reserve Banking. He said it originated from the Financial Market, that one entity capable of overcoming the “Economic Calculation Problem” that he himself and Ludwig von Mises had conceptualized for it can be repurposed against Neoliberalism itself. His Denationalisation of Money laid the philosophical groundwork for Cryptocurrencies like Bitcoins and Ethereum, in response to the Death of Bretton Woods. Fractional-Reserve Banking, von Hayek believed, was becoming an unwanted liability for Liberal Capitalist ideology and the only way to overcome it was for the Financial Market to introduce an alternative form of banking. The Double-Entry Account Bookkeeping of Fractional-Reserve Banking is challenged by the “Triple-Entry Account Bookkeeping of the Blockchain Technology” that came of age in the Great Recession.

In Triple-Entry Account Bookkeeping, the transactions between two people in the Blockchain are known to each other, but their identities are unknown to everyone else in the Blockchain, sidestepping the Fractional-Reserve Banking System. The Cryptocurrency has all the characteristics of a Commodity Currency, a Representative Currency, and a Fiat Currency all rolled into one as a sort of “Debt-Standard.” Bitcoin and Ethereum are Digital Kapital: both rely on the Digital Schuld created from raping and plundering the environment and the Blockchain itself because there can only be so many Hashes of Digital Kapital per Timestamp. This Digital Kapital is always dependent on absurd amounts of electrical and computing power that only the Life-Energy of Earth itself can provide, thereby contributing to the effects of Climate Change.

What is this “Debt-Standard,” if not the Currency of “Anarchists” beholden to Liberal Capitalist Finance and the Usury it justifies by the Profit Motive? What is the Work-Standard, if not the Currency for the Figure of the Anarch determined to support the Figure of the Arbeiter in creating Socialist Finance, Socialist Technology, and Socialist Fintech in particular?  What I see in a Prussian like Ernst Jünger, who is essential to understanding the specifications of the Work-Standard, is the 20th century Synthesis of Hamiltonian Federalism (as the Figure of the Arbeiter) and of Henryist Anti-Federalism (as the Figure of the Anarch) for the new-old Federalist Party. An Eternal Recurrence is definitely at play here, if anywhere.

Like the Market/Mixed Economy and Fractional-Reserve Banking, Cryptocurrencies and Modern Monetary Theory shall be swept aside by the Arbeit and Geld wielded by the new-old Federalist Party. The Work-Standard, like the Federal government of these United States, exists beyond the Good and Evil of the Debt-Standard. Does Actual Arbeit serve as the Legal Duties of all citizens as part of their devotion to Constitutional Intents? Does Actual Geld serve as the Constitutional Obligation for all citizens as part of their devotion to Legal Rights? These questions will always be political and social questions camouflaged as economic and financial questions.     

Tourism and Terrorism

The Anarch differs from the Anarchist in that he has a very pronounced sense of the rules. Insofar as and to the extent that he observes them, he feels exempt from thinking. This is consistent with normal behavior: everyone who boards a train rolls over bridges and through tunnels that engineers have devised for him and on which a hundred thousand hands have labored. This does not darken the passenger’s mood; settling in comfortably, he buries himself in his newspaper, has breakfast, or thinks about his business. Likewise, the Anarch – except that he always remains aware of that relationship, never losing sight of his main theme, freedom, that which also flies outside, past hill and dale. He can get away at any time, not just from the train, but also from any demand made on him by state, society, or church, and also from existence. [F]reedom is based on the Anarch’s awareness that he can kill himself. He carries this awareness around; it accompanies him like a shadow that he can conjure up. ‘A leap from this bridge will set me free.’”

-Ernst Jünger, Eumeswil, ca. 1977

“‘The Triumphal March of Technology’ [Read: The Road to Debt-Slavery] is a leftover from the terminology of the Enlightenment. To behold the corpses left in the path of this steamroller, it may actually be happening. Technology, like [R]eason, does not exist in itself; every life has Technology commensurate and innate to it. The adoption of a foreign technology is an act of submission with consequences all the more dangerous because it takes place first in [‘the Spirit, the Sense, the Lessons’ of all Socialisms]. Machine technology must be understood as the symbol of a particular Gestalt [(Form)], namely of the Arbeiter–adopting [other] forms is like taking over the ritual of a foreign cult. [Any new] ‘Triumphal March of Technology’ leaves behind a wide trail of shattered symbols. Its inexorable result is [a ‘false anarchy’ for Anarchs]–[one] that tears the traditional units of life apart, down to their atoms. [Technology’s] apparent contradiction between its indiscriminate readiness for anything and anyone, and its destructive character, is resolved when we recognize its significance as a language behind a [Jungian] Mask of a strict Rationalism. [One can] put [the Work-Standard and its conceptions of Finance and Technology] into service truly and without resistance when the Figure of the Arbeiter is represented in the Individuals and [Totalities] that have control over it.”

-Ernst Jünger, Der Arbeiter, ca. 1932

I still find the 9/11 Attacks to be the definitive example of why the Freedom-Security Dialectic is the real weakness of Liberal Capitalism itself. No government can decide for any Individual on how to be inwardly free and inwardly secure. What compelled me to deem Socialism as an alternative to Liberal Capitalism was because of 9/11 itself, which is ironic I was too young to remember, let alone comprehend, the events of that morning. And even if I refused to remember or comprehend, I am always reminded of how that one event altered the course of my childhood forever. So long as everyday people continue to be ignorant about the events of 9/11, nobody will ever understand what convinced me that Socialism is far better than Liberal Capitalism. Why other event in American history can one find a Unity of Opposites between the Y2K Bug and the Great Recession, Dot-Com Bubble and the Coronavirus Pandemic?

People have yet to understand why the Y2K Bug had begun this existential crisis of being over the real limitations of Fractional-Reserve Banking and the need to overcome it with Reciprocal-Reserve Banking. Had the Y2K Bug not been dealt with, the Fractional-Reserve Banking System was capable of collapsing and creating the conditions to turn the Great Recession into a sort of Greater Depression. This is because Fractional-Reserve Banking, like the Blockchain Technology of Cryptocurrencies and most Liberal Capitalist-designed PCs, Smartphones, and Tablets, is designed according to a conception of history where Zeit (Time) itself advances in a Linear, as opposed to a Cyclical, direction. One finds elements of this criticism not just in Oswald Spengler’s The Decline of the West, but also in Vladimir Lenin’s “On the Question of Dialectics” in the Philosophical Notebooks which he had written within the same timeframe. For there have been similar “Y2K Bugs” under different names since the Y2K Bug itself: the “Y2K+10 Bug,” the “Year 2011 Bug” (in Taiwan and DPRK), and “Y2K38.”  Let us also not forget about the Y2K Bug striking in the opening months of the Coronavirus Pandemic at the beginning of 2020.

I also have reasons to believe that the Y2K Bug, the Dot-Com Bubble, 9/11, and Great Recession can all be interconnected in the context of the Japanese Economy. The 2000s was supposed to have been a decade of recovery for Japan after the infamous Lost Decade of the 1990s. But one can surmise, the Japanese were heavily invested in Technologies and in Finance when those events occurred in the 2000s. In fact, it is natural for me to conclude that the term “Lost Decades” is more appropriate to describe what is actually happening to the Japanese because its events have not subsided, and it will not subside for the Lost Decades are a product of Fractional-Reserve Banking.

Furthermore, the history of a particular building or a specific location can provide background on how it came into being and which type of Total Mobilization of Production contributed to its construction. The World Trade Center in both its pre-9/11 and post-9/11 Gestalt is a case study example of this. The original Twin Towers were built according to Production for Utility and Production for Profit. Yes, they do look pretty from outside, but the narrow, cramped corridors and cage-like design of the upper floors from inside can be quite unfree and insecure. We find other examples of this peculiar Gestalt in the shopping mall and parking lot beneath the Twin Towers, its design flaws related to how they were both dependent on tourism and terrorism to remain relevant. Without tourism and terrorism, the Twin Towers lose their meaning in the American Collective Consciousness.

When one reads about the history behind the rebuilding of the World Trade Center, one is reading about the incompetence of Fractional-Reserve Banking. Why did it take over a decade just to find anyone to finance the reconstruction efforts? Is it necessary to install a hefty paywall on top of the TSA-like airport security just to pay respects at the 9/11 Memorial and Museum, which has become a cemetery for the people who had died that morning?

I have encountered similar problems at One World Trade and the ongoing (as of this Blog post) reconstruction of Two World Trade. Is it necessary to charge an even larger paywall for visitors to the upper floors of One World Trade? Is it also necessary for Fractional-Reserve Banking to delay the reconstruction efforts of Two World Trade, which have been delayed because of the Pandemic? Has Fractional-Reserve Banking reached its limits, and all kinds of people are beginning to realize this? Is this not the same New York that built the Empire State Building in the span of just one year? Is this also not the same New York which had one tried commissioning a work of art that best describes the overall theme of a Blog post now arriving to its conclusion? Let history decide.

Diego Rivera’s Man at the Crossroads (1933-1934)

Categories: Philosophy

Tags: , , , , , , , , , , , , , ,

1 reply


  1. Third Place: Reciprocal-Reserve Banking Proposals – The Fourth Estate

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

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

Facebook photo

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

Connecting to %s

%d bloggers like this: