#commodity exchange
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Within the sphere of circulation, valorization would only be possible if commodity C is purchased above or below its value. In this case, the sum of value advanced can be increased, but one capitalist’s gain is only possible if another capitalist takes a loss of the same amount. At the level of society as a whole, the sum of value has not changed; it has simply been redistributed, just as if a simple act of theft had occurred.
Capitalist profit would therefore be explained as a violation of the laws of commodity production. If we assume the normal conditions of commodity production and circulation, then the “exchange of equivalents” applies: the commodities that are exchanged for one another have the same magnitude of value, the price paid is an adequate expression of the magnitude of the value of the commodity and does not express a coincidentally greater or lesser magnitude; the commodities are exchanged “at their true values”. If surplus value is a normal phenomenon of capitalist commodity production and not just an exception, then its existence must be explained under the presupposition of an “exchange of equivalents”, and this is exactly the question that Marx poses.
Marx’s deliberations can be summarized as follows: if equivalent exchange is assumed, then surplus value cannot be constituted in circulation, not in the first act of circulation, M-C, nor in the second act, C-M’. A change must take place between both acts. But outside of the sphere of circulation, the use value of the commodity purchased is merely consumed. Thus the owner of money must find a commodity on the market whose use value possesses the quality of being a source of value, so that the use of this commodity creates value, and more value than the commodity itself costs.
Michael Heinrich, “An Introduction to the Three Volumes of Karl Marx’s Capital”, trans. Alexander Locascio, New York: Monthly Review Press, 2012, pp. 90-91.
#Marxism#Marx#Heinrich#value theory#value#law of value#value form#exchange#exchange value#use value#commodity#money#capital#labor power#surplus value#profit#commodity exchange#commodity production#capitalist commodity production#capitalism#socialism#communism
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Gold Futures Surge by Rs 245 to Reach Rs 71,585 per 10 Grams
In recent trading sessions, gold futures have experienced a significant surge, with prices climbing by Rs 245 to reach Rs 71,585 per 10 grams on the Multi Commodity Exchange. This increase represents a 0.34% rise in value and is indicative of strong market activity.
The uptick in gold prices can be attributed to several factors. Speculators have been actively creating fresh positions, responding to robust spot demand in the market. This surge in demand has fueled trading activity, leading to an increase in gold contract prices for June delivery.
According to analysts closely monitoring these developments, the rise in gold prices is primarily a result of the buildup of fresh positions by market participants. This trend underscores the confidence and interest in gold as a valuable commodity within the trading community.
Interestingly, this bullish sentiment is not confined to local markets. Globally, gold futures have also seen a rise, increasing by 0.51% to USD 2,374.40 per ounce in New York. This international movement further highlights the positive outlook for gold as an investment asset across different markets.
As we navigate the dynamic landscape of commodity trading, these developments offer valuable insights into the evolving trends and sentiments surrounding gold futures. Stay tuned for more updates on market trends and trading opportunities!
If you're interested in learning more about gold futures, market analysis, and trading strategies, feel free to explore our blog for additional resources and expert insights.
Keep an eye on these exciting developments as we continue to monitor the fascinating world of gold futures trading!
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A commodities trading account is a bank account. A trading participant in a reputable commodity exchange, like traded, bought is called a Commodity trading. To Open an Online Commodity Trading Account, you open online, with help of a broker and KYC account. If you want detailed info, visit our blog!
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Is a commodity exchange possible in Westeros? Like Bourse of Antwerp and London Royal Exchange?
Yes, although I think it would be a bit hard to get off the ground at first, because Westeros doesn't have a lot of the underlying legal concepts and institutional conventions that would make it run smoothly.
I highly recommend William Cronon's Nature's Metropolis; it's a very intimidating door-stopper that could easily be used to beat a suspect without leaving marks, but it's got an amazing discussion of how Chicago capitalists turned agricultural goods into abstract commodities.
#asoiaf#asoiaf meta#westerosi economic development#westerosi economic policy#commodity exchanges#economic history#early modern period#capitalism#book recommendations
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listen if i had a rich friend you would never find me being too proud to let them buy me stuff. i'm against money inequality and pro redistribution. no one should be rich. if you're rich i'm taking your money. and since i legally can't do that i am making you buy all my lunches. and cinema tickets. it's the least you can do.
#rain talks#pride ain't got nothing to do with it money doesn't mean shit to me#it's just little trinkets you're given in life to exchange for necessities. why does this guy get more trinkets than me. the only logical#explanation is that he's gonna use his extra trinkets to exchange them for commodities for other people#just like when i've got some extra trinkets i give them to people who need them more than me because otherwise i just have trinkets in my#pockets that aren't gonna be of any use there but if some guy is finding himself short of a few trinkets well look!! i've got some in my#pocket that i'm not using#like idk man until we call game over and redeal the trinkets i feel like that's the way it's gotta go
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Hella I have started a trade with my local dairy farm, I knit chicken capes and they give me free milk, what kind of system is this called? Is it barter or is there a fancy econ name for it?
you lost me at chicken capes like you make them little capes? like chicken superman? like edna mode's poultry infused nightmares?
#this is just a traditional economic system so it's just money in exchange for goods/services. no specialisation or anything just vibes#but if you want to get fancy then the chicken capes would be considered 'fiat money'#because they don't have inherent value (sorry) like a gemstone would (called 'commodity money')#and have value simply because someone SAID they had value#same for the milk if you reversed it#it's the basic 'i give you money in exchange for goods/services'#whereby for you in this case the money is the chicken cape (?!) and the good you get in exchange is the milk#ask#hella goes to uni
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a fragment
[“The surprise that waits us, when we enter a room, the difference between going up through the floors to the room on the lift or walking up the stairs. When we reach the top of the climb. We do not have an idea of of the surprise at the difference in the rooms, We have a certainty of surprise. But its not easy to get there , for you have to travel as if you are on a camel or a horse. This place was a dark market before it became a hotel, where things were bought and sold that need not to be traced. Not the money that changes hands which will always be traceable, whether its transferred as cash, paypal, plastic or cypto, but the things themselves which being material objects vanish and are carried off by the purchasers, perhaps a book is by Mary Butts, imaginary letters, made in 1928, or one by Duras in the 1953 edition… in hands, paper bags, wheeled to lifts and carefully placed in vehicles. A painting carried off on the back of an electrical bicycle… Whilst the society only values the various forms of exchange value, the things themselves being unvalued in our consumer society vanish. Here then the empire of things used to exist. Where has it vanished to?”]
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An addition to the debate on simple and capitalist commodity production — and a couple points to consider Marx’s theories on “value” and “surplus value”:
The argument forged by Marx suggests that relations of simple production of commodities (ie values/ exchange values) and the law of commodity exchange (ie the law of value) do not in themselves produce surplus value. Capitalism, as opposed to simple (ie, pre capitalist) commodity production, can only begin with production of surplus value. Conditions of production — and expansion — of surplus value defines capitalism. This constitutes its identifying feature.
As understood by Marx, accumulation of surplus value is a necessary function of capital; “necessary” in as much as representing its source of profit; and requires that workers produce more than the value equivalent of the daily average of commodities required for their subsistence — thus exploitation. Nevertheless, the initial laws of simple commodity exchange and relations associated with value obtain within capitalism — albeit, in a modified form — which Marx called the “average rate of profit” — such that production of commodities and exchange of equivalent values results in a greater sum of values — surplus value — profit — bestowed upon capital. Thus, as Marx indicates, equality of value form/ commodity owners coincides with exploiting workers and wage labor under capitalism.
As explained above, profits on capital in accordance with the law of value is one of the most glaring contradictions of capitalism. And the solution to the paradox lies in the unique capacity of labor power to produce more exchange value than its own. But still leaves us with, as we witness, the blind mechanisms of commodity production — which continue to interfere with satisfying human need.
#Marxism#Marx#Engels#value theory#value#law of value#value form#exchange#exchange value#commodity#money#capital#labor power#wage labor#surplus value#profit#commodity exchange#commodity production#simple commodity production#capitalist commodity production#capitalism#socialism#communism
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Someone needs to write something about the way the ‘young’ Marx’s philosophical ideas, namely his views on ‘sensuous human activity’ and the development and emancipation of the senses, were also expressed poetically by Whitman in Leaves of Grass at around the same time.. mainly to recuperate Whitman for the communist project
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The Impact of Economic Indicators on Trading Decisions
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Introduction:
Economic indicators are among the many important aspects that impact trading decisions in the intricate realm of financial markets. Economic indicators are figures pertaining to economic activity that offer important context for understanding the state and trajectory of an economy. These indicators are closely watched by traders because they might indicate possible opportunities or risks in a variety of asset classes, such as bonds, equities, currencies, and commodities. This article examines how traders evaluate and understand economic information in order to make well-informed trading decisions. It also looks at the influence of economic indicators on trading decisions.
Understanding Economic Indicators:
The three primary categories of economic indicators are coincident, lagging, and leading indicators. Leading indicators are markers, such building permits, stock market performance, and consumer confidence surveys, that appear before shifts in economic trends. Conversely, measurements such as inflation rates, business profitability, and unemployment rates are examples of trailing indicators, which validate long-term patterns. Coincident indicators, which include figures like GDP growth, industrial production, and retail sales, follow the general economic trend.
Impact on Stock Trading:
Economic indicators are essential for stock traders to evaluate the state of the economy as a whole as well as individual industries. Strong GDP growth, for example, might be a sign of stronger consumer spending, which would raise business earnings and stock prices. On the other hand, falling retail sales or increasing unemployment rates may indicate economic weakness and cause investors to sell stocks in expectation of a decline in corporate profitability. To predict future market sentiment and business conditions, traders also closely monitor indicators such as the Purchasing Managers' Index (PMI) and consumer sentiment surveys.
Impact on Forex Trading:
Economic factors have a direct and immediate effect on currency values in the foreign exchange (forex) market. In order to make monetary policy decisions that may have an impact on interest rates and currency exchange rates, central banks keep a careful eye on variables such as trade balances, employment statistics, and inflation rates. In order to forecast central bank operations and make predictions about currency fluctuations, traders examine these indications. A stronger currency could result, for instance, from a central bank raising interest rates in response to higher-than-expected inflation. However, poor economic data could lead to rate reductions, which would devalue the currency.
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Impact on Commodity Trading:
Commodity traders keep a careful eye on economic variables that impact the dynamics of supply and demand for different commodities. To evaluate crop yields and predict changes in food prices, for instance, agricultural dealers keep an eye on crop reports and weather forecasts. To estimate supply levels and forecast changes in the price of oil and gas, energy traders use production reports and inventory data. Demand for commodities is influenced by economic indicators including manufacturing output, industrial production, and consumer expenditure, which in turn affects pricing in all commodity markets.
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Analyzing Economic Indicators:
To evaluate economic data and use them to their trading tactics, traders employ an array of instruments and methodologies. To determine an economy's strength and direction, fundamental analysis looks at the underlying economic statistics. Examining price charts and patterns to spot trends and possible entry and exit points is known as technical analysis. To obtain a thorough grasp of market conditions, many traders choose a holistic strategy, which combines the two methods.
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Risk Management:
Although economic indicators can offer significant insights, trading exclusively on the basis of economic data entails certain dangers. Economic data are susceptible to change, and their influence on markets may be obscured by unforeseen circumstances or geopolitical developments. Furthermore, illogical market activity frequently results in price changes that defy fundamental explanation. To reduce the risks involved in trading based on economic data, traders must employ conservative risk management techniques include controlling position sizes, diversifying portfolios, and establishing stop-loss orders.
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Conclusion:
In summary, trading decisions are influenced by economic data in a variety of financial markets. In order to predict future possibilities and hazards, traders keep a close eye on these indicators to evaluate the state and trajectory of economies and industries. Making wise and profitable trading decisions requires an awareness of the influence of economic indicators, whether one is trading bonds, equities, currencies, or commodities. However, in order to successfully negotiate the intricacies and uncertainties of financial markets, traders must use caution and risk management techniques.
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Will Gold Prices Cross Rs 70,000 Mark in 2024? Analyst Opinions
The present gold price is ₹63,060 per 10 grams on the MCX commodity stock exchange. According to various commodity experts and analysts, there is speculation that the gold price might significantly increase, possibly reaching Rs 70,000 for 10 grams by the end of 2024.
Sachin Kothari, Director at Augmont Gold for All, mentions that in the first week of December 2023, gold prices reached a new…
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US Bitcoin ETFs Poised to Transform Crypto Investment, Surpassing Europe's ETPs
The imminent introduction of Bitcoin Exchange-Traded Funds (ETFs) in the United States is poised to reshape cryptocurrency investments, distinguishing it from the current European market. According to Patrick Hansen, a notable figure in the blockchain industry, Europe has long been a hub for Bitcoin Exchange Traded Products (ETPs).
These European instruments, including Exchange Traded Commodities (ETCs) and exchange-traded notes (ETNs), have been prevalent in the European market for many years. However, there are notable differences between these European offerings and the upcoming U.S. Bitcoin ETFs in terms of cost and security.
A significant cost disparity is evident when comparing the average Total Expense Ratio (TER) of Europe’s 10 largest ETPs/ETNs, which stands at 1.047%, to the average fee of the upcoming U.S. Bitcoin ETFs, post-waiver, at just 0.451%. This notable difference emphasizes a considerable financial advantage for U.S. investors in the emerging Bitcoin ETF sector.
Furthermore, the structural nature of European ETPs and ETNs poses additional risks. As these are essentially debt securities, the invested capital is not separately protected in the event of the issuer’s bankruptcy, raising the potential for investment loss. In contrast, U.S. ETFs offer a heightened level of capital protection, positioning them as more economical and secure options for investors.
As the U.S. market advances, the expected approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) will provide American investors with significantly more cost-effective and safer alternatives for Bitcoin investments than those available in Europe. This development is likely to influence investor choices, especially given the broader scope of the U.S. financial markets.
Prominent firms such as BlackRock and VanEck, among 13 contenders, have submitted revised filings to the SEC for launching Bitcoin ETFs, indicating a proactive and responsive dialogue with the SEC. These updates include provisions to safeguard shareholder interests in insolvency scenarios and prevent conflicts of interest among the ETFs’ authorized participants.
With a critical deadline approaching on January 10, 2024, for an application by Ark and 21 Shares, the SEC is expected to approve all pending applications imminently. This move is set to offer American investors more economical and secure avenues for Bitcoin investment, potentially ushering in a new era in the cryptocurrency investment landscape.
#Bitcoin#Traded Products (ETPs)#Exchange Traded Commodities (ETCs)#exchange-traded notes (ETNs)#cost#security#Total Expense Ratio (TER)#U.S. Bitcoin ETFs#financial advantage#cryptotale
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Χρήσιμη εργασία/αφηρημένη εργασία (Useful labour/abstract labour)
[Derek Sayer (1979), Marx’s Method: Ideology Science and Critique in Capital, pp. 17-24]
Marx’s Method: Ideology, Science and Critique in Capital | Derek Sayer – Academia.edu
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(γ) Χρήσιμη εργασία/αφηρημένη εργασία
Αυτή η τρίτη διάκριση είναι κατά την εκτίμηση του ίδιου του Μαρξ «ο άξονας στονοποίο μιασαφής κατανόηση της Πολιτικής Οικονομίας στρέφεται» (ibid. 41, cf 1867f,1868d).^9 Ακριβώς…
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#abstract labour#commodity#commodity production#concrete labour#exchange#exchange value#Karl Marx#physiologically equal labour#private labour#social division of labour#social labour#use value#useful labour#value
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Foreign exchange trading:-
Are you searching for the best company service for foreign exchange trading? Here is ELP markets who work best in terms of trading the forex markets. https://www.elpmarkets.com/foreign-exchange-market.html
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Investment strategies and portfolio management
Discover the importance of diversifying your investment portfolio to minimize risk and maximize returns. Learn how to implement effective diversification strategies to achieve long-term financial success.
Discover the importance of diversifying your investment portfolio to minimize risk and maximize returns. Learn how to implement effective diversification strategies to achieve long-term financial success.
Welcome to this comprehensive guide on investment portfolio diversification, an essential element of personal finance and investing. In this article, we will delve deep into the importance…
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#Asset Allocation#asset classes#Bonds#commodities#company size diversification#domestic markets#economic downturns#exchange-traded funds#geographical diversification#Index funds#international markets#Investing#investment goals#investment portfolio diversification#long-term financial success#Market Volatility#maximizing returns#minimizing risk#Mutual Funds#Personal Finance#real estate#Risk Management#risk tolerance#sector diversification#Stocks#time horizon
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