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Tag Archives: derivatives

An interview with Bryan and Rafferty and the fallacies of ‘financialisationism’: Some comments by Stavros Mavroudeas

Recently, I came across an interview with Dick Bryan and Mike Rafferty for the JACOBIN magazine. The interview concerns their analysis of financialisation and it can be accessed in the following web-address: https://jacobinmag.com/2019/07/financialization-capitalism-with-derivatives-australia. The interview has the telling title ‘How Finance Exploits Us’. It is not coincidence that a book on financialisation by Costas Lapavitsas carries the same title (‘Profiting Without Producing: How...

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Physical Gold Withdrawals from the Shanghai Gold Exchange and The New Silk Road Jesse

I would add to government accumulation the likelihood that as incomes rise in the East there will also be increased demand from households. There already is.  In the West, physical gold is mostly bling, with much of the saving in gold held largely in derivates as financial saving. And, as Jesse observes, the "paper gold" — "digital gold" really — is an issue owing to hypothecation and re-hypothecation. In the East physical gold doubles as ornament and real saving. In addition, in...

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