Defending Marx 6: Currency and the Three Phantoms of Capitalist Society
2007/3/29 12:39:50
In a certain sense, currency is nothing more than a transaction certificate, a most basic thing with a certain stock-like nature. Just as stocks that are essentially wastepaper can weave a picture of bubbles using so-called fundamentals, currency is the same—merely the emperor's new clothes draped over the naked capitalist relations of production. What currency conceals is precisely such a bloody relationship, brimming with oppression and enslavement.
The establishment of any currency presupposes acceptance of a certain social relationship of enslavement and oppression. When you exchange your labor for currency, you are merely accepting the so-called legitimacy of this wage-labor relationship as a premise. The so-called legality of capitalist society is essentially nothing more than a chastity arch erected by the face-law of this social relationship of enslavement and oppression. In a virtualized capitalist society, all the virtualized games—the stock market, for instance—use things that are essentially wastepaper to play games of currency transfer. And currency itself is nothing but wastepaper premised on the acceptance of capitalist oppressive relations. Here we have double illusion, double oppression.
And the game of currency between nations is essentially nothing more than the orgiastic expansion of this capitalist virtualization game. In the end, it is still the phantom of capitalist relations of production—but this phantom is a blood-sucking specter that devours everyone's soul, flesh, and survival. Everyone in capitalist society is in fact cheerfully consumed by this blood-sucking specter. The rampant spread of consumerism fuels this carnival of material desire. The question is not whether this carnival meets so-called moral standards, but that the infinite expansion of this carnival inevitably presupposes an infinite, God-like hypothesis.
Yet in reality, infinity can only be virtualized. Consumerization is made infinite through virtualization, but this can never change the fact that this infinite dream remains within a finite ant-mound. Against an omnipresent phantom, cursing and striking it down is useless. One can only fight illusion with illusion—generating infinite entanglements within this phantom, making desire more desirous, making bloodshed more bloody, making oppression more oppressive, making enslavement more enslaving, letting capitalism's ecstasy pills and hallucinogens flood without limit. This way, even if the day comes when the dream breaks, one remains within the dream.
All garbage Western economics attempts to use the hallucinations of so-called formulas and laws to cover up the reality of capitalist relations of production, using the illusory truth of so-called laws to conceal reality, while simultaneously concealing the illusory logical starting points of these so-called laws. To destroy them, one must directly exhume the logical starting points of all their theories, letting their illusory nature shatter against reality. More importantly, these lies constructed from illusory logic have in turn become the real superstructural discourse of real society, weaving the world's so-called truth. These real relations woven by capitalist superstructural discourse constitute the most fundamental part of this capitalist hallucination. To depart from reality is not to take reality as a starting point, but to reveal the absurdity and illusory nature of reality's starting point—this is what it truly means to depart from reality.
The illusory construct of currency creates the illusory monetary reality. When you shatter the illusion of what currency transacts, that is not enough—that is merely the third layer of the phantom's illusion. What must be destroyed is the first phantom: the real social relations of capitalist society itself. Without doing so, everything is nonsense.
Appendix
Today's battle is indeed a psychological test for retail investors, but it is necessary. For this ID, as stated at noon, buying financial stocks first and selling later is the only correct choice. The traitors' move was anticipated—it is the only trick the traitors can use. If the traitors couldn't even pull off today's move, this ID would despise them even more.
For the traitors to block the rise, the only path is what was said yesterday: leave a long upper shadow on the monthly and quarterly candles. Regarding the battle of these last two days, this ID has already given advance notice. When large armies fight, collateral damage to innocents is unavoidable. Tomorrow is the last day. The traitors of course hope to ride the momentum and push out a long bearish candle. Actually, whatever the trend, it makes no difference to this ID, because today this ID adopted the most correct strategy—buying financial stocks first and selling later, while simultaneously cleansing second- and third-tier stocks starting yesterday. For this ID, tomorrow the approach is to remain still and let the traitors make their move first. At worst, there'll be another round of back-and-forth oscillation like below 3,000 points—an exercise the traitors have already lost once, and we might as well do it again.
Right now, the fight is for market control. Losing chips is unacceptable. The only correct approach is to lower chip cost through oscillation. From this, you can see that this ID's theory is equally effective for large capital. Stocks are all wastepaper, merely certificates for blood-sucking. The key is to reduce the cost to zero—only then is it truly safe. Below zero is where real profit lies, where real blood is. This is the same whether for retail investors or market makers.
Replies
缠中说禅 2007/3/29 21:31:54
Sorry, I'm late.
缠中说禅 2007/3/29 21:44:58
Today's battle is indeed a psychological test for retail investors, but it is necessary. For this ID, as stated at noon, buying financial stocks first and selling later is the only correct choice. The traitors' move was anticipated—it is the only trick the traitors can use. If the traitors couldn't even pull off today's move, this ID would despise them even more.
For the traitors to block the rise, the only path is what was said yesterday: leave a long upper shadow on the monthly and quarterly candles. Regarding the battle of these last two days, this ID has already given advance notice. When large armies fight, collateral damage to innocents is unavoidable. Tomorrow is the last day. The traitors of course hope to ride the momentum and push out a long bearish candle. Actually, whatever the trend, it makes no difference to this ID, because today this ID adopted the most correct strategy—buying financial stocks first and selling later, while simultaneously cleansing second- and third-tier stocks starting yesterday. For this ID, tomorrow the approach is to remain still and let the traitors make their move first. At worst, there'll be another round of back-and-forth oscillation like below 3,000 points—an exercise the traitors have already lost once, and we might as well do it again.
Right now, the fight is for market control. Losing chips is unacceptable. The only correct approach is to lower chip cost through oscillation. From this, you can see that this ID's theory is equally effective for large capital. Stocks are all wastepaper, merely certificates for blood-sucking. The key is to reduce the cost to zero—only then is it truly safe. Below zero is where real profit lies, where real blood is. This is the same whether for retail investors or market makers.
缠中说禅 2007/3/29 21:57:54
Suddenly can't get in, a bit strange. Is everyone okay?
缠中说禅 2007/3/29 22:06:35
[Anonymous] Sina Netizen
2007-03-29 21:52:03
Based on what you're saying, sister, tomorrow is going to be a bloodbath? The market might drop sharply tomorrow?
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This possibility cannot be excluded. Especially if it were this ID doing the shorting, tomorrow would be the best opportunity. After a long upper shadow candle, dropping a long bearish candle could at least make many so-called technical traders miserable for half a month. Of course, whether the traitors have this ability is another matter. The market is not one person's or one faction's market, and much of the market's movement happens in the moment—it's like warfare, how could battle opportunities be known in advance? Take today: the traitors suddenly went crazy. At that point, if you try to press down the price, you'd be a fool. Instead, you must be even crazier than the traitors, and when they try to smash back down, smash faster than them. This is like swordsmen crossing blades—one wrong step and you're lost forever. The depth of skill involved is immense; it's nowhere near as simple as it looks.
缠中说禅 2007/3/29 22:11:51
[Anonymous] Sina Netizen
2007-03-29 21:58:43
Is there still hope for 999?
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999 is a certain traitor fund dumping shares. This traitor fund held 50 million shares at a few yuan each, got redeemed around 11 yuan and sold 20 million, then wanted to clear the rest this time, switching to 600607, which is also a heavy position of this traitor fund. This ID always goes with the flow—if someone is dumping and wants this ID to catch their shares, no way. You want out? Fine, sell lower.
缠中说禅 2007/3/29 22:14:21
[Anonymous] 漂泊
2007-03-29 22:09:26
Master Chan, please comment on 600238. It already showed bottom divergence. I entered yesterday, but how did I still get trapped?
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Without understanding levels, you can never truly understand the market. First think clearly about what level the divergence is at.
缠中说禅 2007/3/29 22:20:48
[Anonymous] 麒麟
2007-03-29 22:05:02
"Simultaneously cleansing second- and third-tier stocks starting yesterday" — Do second-tier blue chips still have prospects recently? I just switched to this sector, it surged briefly, then I got trapped. Sister, you've worked hard!
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As long as they're not excessively speculated theme stocks, of course they're fine. But please note, anyone who gets trapped definitely did not buy at a buy point. This ID has emphasized repeatedly that mindset is most important. Many people clearly know it's not a buy point, but their hands itch and they can't resist—this is a mindset problem. Without solving this, no theory is useful.
Stocks come in only two kinds: all stocks at buy points are good stocks; otherwise they are garbage stocks. A stock at a big-level buy point is the best blue chip. Patiently waiting for a stock to become a truly excellent stock—that is the real mindset.
缠中说禅 2007/3/29 22:26:46
[Anonymous] 波波
2007-03-29 22:09:35
Then fairy sister, what should we do with the stocks we're holding?
We don't have any financial stocks.
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With this kind of mindset, how can you survive in the market? This ID entered Bank of China and China Unicom openly and ostentatiously—if you really liked these kinds of stocks, you would have already owned them. These stocks are fundamentally unsuitable for retail investors because the fluctuations are too small to be meaningful. This ID said second-tier stocks around 10 yuan, like 000802—how could Bank of China or China Unicom compare with it recently? First get your mindset right. The key is not which stock, but buy points and sell points. For example, even with 000802, buying at 17 yuan means it's garbage stock at least for these two days. Sell points and buy points are what matter most.
缠中说禅 2007/3/29 22:30:11
[Anonymous] 摇篮
2007-03-29 22:25:35
Master Chan, won't the opponents counter-ambush you next time?
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As long as you follow the rhythm, no one can ambush you. Take Bank of China and China Unicom—how can the traitors ambush? This ID has plenty of chips, and the cost keeps getting lower. What are they going to ambush? If the traitors have the ability, ambush it above 10 yuan and this ID will give them everything. Smashing down is even more useless—ask them, how much could they sell at today's highs?
The market has rhythm. Grasp the current rhythm, and no one can defeat you.
缠中说禅 2007/3/29 22:33:37
[Anonymous] Sina Netizen
2007-03-29 22:21:02
From what Master Chan is saying, do we need to cut losses and exit positions tomorrow?
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What you need to reflect on is why you didn't sell at the sell point, not go cutting losses. Pay attention to rhythm. If you didn't sell at the sell point, you deserve to cut losses. If you cut at a buy point, that's exactly when to slim down.
Those who like going against the market's rhythm—whenever they become skin and bones, feel free to come announce it publicly, as a cautionary tale for others.
缠中说禅 2007/3/29 22:37:58
[Anonymous] 轻风吹断
2007-03-29 22:33:07
Blogger seems a bit worked up today. You've talked about cultivate, nurture, align, govern, pacify.
Tomorrow we're still waiting for you to pacify.
It's almost midnight. Get some rest early.
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This ID enjoys opponents with some skill. Today, the traitors made the correct choice, and this ID is even happier for it—this is the only correct choice for short-sellers. However, their timing is already poor, so this can only be considered a death-struggle fight.
As for retail investors—oscillation is exactly the best opportunity for short-term trading. Sell first then buy, or buy first then sell, according to the rhythm of the downward or upward segments. This is the market's test, and it's an opportunity.
缠中说禅 2007/3/29 22:39:45
[Anonymous] 麒麟
2007-03-29 22:36:56
Sister Chan, let me ask a silly question: when they're smashing the price down, why don't people pull their buy orders? Why do they stupidly catch other people's shares?
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You'd have to ask those people who like to place buy orders. This ID never does that. Providing a counterparty for such boring games—this ID never does that.
缠中说禅 2007/3/29 22:43:40
[Anonymous] 粉丝
2007-03-29 22:39:20
Hello! I can't help but come out and say something. It seems the traitors are well aware of this blog and are deliberately trying to cause trouble. We're very worried that one day we won't be able to find you here anymore—what do we do? Or how do we follow you again?
Also a basic question: I also hold a large position in 39, holding it because of earlier posts and trust in you. But today you publicly revealed the traitors' movements, and my worries returned (mainly because my own analysis is poor): if the traitors finish dumping, does that also mean you'll let go of this stock? Then we'd have no hope at all?
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Even using the simplest method of reducing positions when the 5-day moving average is broken—look at when you should have reduced this stock? Not to mention the long bearish candle from the 16.5 high-open-low-close. If you trade stocks without technical analysis, how can you possibly cope?
Of course, if you're truly holding for the medium to long term, then there's no need to ask so many questions. Analyze this stock's fundamentals—where do you think it should be?
缠中说禅 2007/3/29 22:46:03
Must log off now, it's too late.
One last word for everyone.
Rhythm—it is always the market's rhythm. A market participant without a sense of rhythm will forever only face torment. Cast aside your greed and fear, and listen to the rhythm of the market.
Goodbye.
缠中说禅 2007/3/29 12:41:24
I have something to do after the afternoon close and won't be able to come online. Let me say a few words first. These two days are related to the monthly and quarterly closes, and intense fighting was planned. Today's price action is the result of this struggle. When they can't push it down, they pull it up first—this is also the traitors' only path. If it were this ID, I would do the same. It's impossible to suppress bank stocks—this ID would never suppress Bank of China today, only go with the flow. Buying first and selling later was also correct.
Of course, when large-cap stocks are at war, other stocks suffer—this is unavoidable. The market is not a charity. If you can't read the situation, look at the Shenzhen Index and use it as your guide for entry and exit. The distortion of the Shanghai Index during this period is unavoidable. Individual stocks should be traded based on their own charts—especially after stock index futures launch, the index's guiding significance for individual stocks will be even weaker.
For this ID, Bank of China and China Unicom are simply components of the portfolio. Once the direction of the large-cap battle is clear, other stocks will naturally resume their uptrend. Actually, you can look at it from the perspective of sector rotation.
I'll be back at 9 PM. See you then.