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Gilets Jaunes! Greetings on your fourth week of Revolutionary struggle! Dalit Marxists extend our Solidarity and Revolutionary Greetings! We offer you an analysis of the world’s crisis we are all struggling against in the hope that you in turn gain strength from our solidarity and we gain strength from your solidarity with us!

The first information we need is the answer to the question where is the money in this world? The answer is as follows. GDP is the value of the commoditised, that is to say traded for money, goods and services in an economy. To a great extent reproductive services that is to say care economy, agriculture, forestry, and other non-taxed non monetised non-extracted exchanges of labour of love, are excluded. To the extent that the reproductive sector, which includes the care economy, is included in GDP it usually appears in health, education and welfare contribution to GDP of governments. The commoditisation of goods and services is done by banks when they create money. 90% of money is created as debt by private banks and carries an interest rate. 10% is coins and notes created by Governments and is debt free and owned by the public in the sovereign territory in which that currency circulates. The total global value of bank money and coins and notes used for goods and services, the indicator called GDP, is USD 87.5 trillion. Total GDP of the G20 is 72% of world GDP or USD 62.6 trillion.

Next total foreign reserves of all countries in the world are around USD 10 trillion of which around USD 6.5 trillion is held in US dollars, 2 trillion in Euro, 0.5 trillion in UK pounds, 0.15 trillion in Chinese Yuan. Foreign reserves are used for international trade, mainly fossil fuel energy, cars and manufactured goods. China produces 60% of world’s manufactured goods, the USA around 30%.

Next the total wealth in the world is USD 317 trillion. The difference between total global wealth and total GDP comes from the difference between money used to create assets and money as the commodity of commodities circulating to create production, consumption and distribution. Assets are accumulated and asset values increase when money is issued by banks and central banks by lending to corporations for production, consumption and circulation rather than to private producers and consumers and distributors in the market. Non-socialist free market ideology believes Governments should not create money through deficit financing for full employment for welfare, reproductive economy and environment, but should encourage GDP growth by encouraging private bank loans to corporations. These end up monopolising greater and greater parts of global production, consumption and distribution chains. The policy of central bank preference of monopolies gives the global rich, the global investors, confidence in their ability to make money from their investments as passive rentiers, that is as shareholders, thus continuously driving up the asset value of the stocks and shares of global monopolies. Today 1% of the world’s population owns 50% of this asset wealth, by 2030 1% of the world population will own two thirds of global commoditised wealth.

Now we must realise that public spending in most countries is restricted on the other hand under so called fiscal responsibility and budget management ideology and laws and rules. Usually public spending these days is capped at around 3% of annual GDP. This is in contrast to Keynsianism, the preferred ideology from 1950s to 1980s, when Governments spent as much money as they needed into circulation to create jobs and welfare, and monetised the deficit. Inflation was controlled trough taxation. Today only the USA and Europe and China are monetising the deficit, but these days it is called quantitative easing to ensure that it is used for bank bailouts and corporate expansion, as mentioned above, and not for social and productive spending for full employment as was the aim with government spending when it was called deficit financing.

The triple crisis in the world can thus be summarised as

1) First, the crisis caused by control over central banks of the world through the Bank for International Settlements, which imposes the ideology of private lending and restriction of government spending on Governments and the willingness of Governments to toe this line. This leads to a social crisis of unemployment and poverty.

2) Second, the crisis of the environment. USD 5000 of money causes 1 tonne of carbon dioxide emissions and there is no way this can be decoupled. Thus the system of free markets that is to say capitalism and imperialism as described above has caused runaway climate change, species extinction, desertification; and the associated on the ground most easily felt pollution of air, water and soils by release of toxic chemicals by global monopolistic corporations in their production, consumption and distribution chains.

3) Third is the military crisis. To defend this set of affairs described above that has held sway since the fall of the Soviet Union in 1989, the USA has established 800 military bases in 70 countries. It runs a military industrial system of aid and intervention worth probably around USD 50 trillion from 1998 till 2015, of which USD 21 trillion cannot be accounted for. In 2015 alone the Pentagon could not account for USD 6.1 trillion that passed through its hands. Thus at least 10-20 percent of total global GDP annually goes into American military spending, and if the indirect jobs and production, consumption and distribution activities of the military sector in the USA itself are included the value may be 30% of world GDP and possibly 30% of the total wealth of stockholders in the world. France extracts about USD 0.5 trillion annually from its colonies through the Central African Franc. Thus the third crisis is the crisis of violence, war and instability. After the independence of British and French colonies in developing countries the developed countries have done everything in their power to keep control of the global economy, and have succeeded in this mission.

Now we must get an answer to the question what is to be done. It is this triple crisis that keeps triggering protests, revolts and triggers of our revolutionary movements in the world to overthrow this global system.

1) As far as the social crisis is concerned, the most important revolutionary overthrow has to happen in the USA to put an end to the industrial military complex underpinning that regime.

2) The environmental crisis must be ended by ending global capitalism and the control of the Bank of International Settlements over the whys and wherefores of money creation. The Intergovernmental Panel on Climate Change has warned that unless greenhouse gas emissions are near zero by 2030 runaway climate change will be unstoppable. Greenhouse gases and creation of money as debt by industrial capitalism are inextricably linked. Already most higher living beings are going extinct due to impact of capitalism on the biosphere including warming from positive feedback effects from methane emissions from the melting permafrost in Siberia. Methane is 23 times more globally warming than carbon dioxide. Only money reform by a) making all money publicly owned non debt money b) separating capital account and trading account of reserves and ensuring systemic balance of balance of trade in each country and c) energy / emission backed currency unit for trade of fossil fuels globally under the control of the UN energy backed currency unit (ebcu) authority that by 2030 and then 2050 restricts extraction, production, consumption and distribution of fossil fuels and nuclear energy to near zero by 2030 and zero by 2050. In the present system global and national capitalist forward castes have the huge advantage of decades of accumulation of assets, stock of value in money, wealth, on their side, facilitated by two things. On the one the one hand the enormous energy power inherent in commercial commercial energy. 1 day’s labour is 2500 kcal whilst one litre diesel is 15’000 kcal and one litre diesel costs Rs 70 whilst one labour day costs Rs 490, so a capitalist will prefer to have diesel that is 42 times cheaper than labour power. Labour power has to compete with the machine. On the other hand the advantage of the system of money by the rich for the rich. It is these TWO
advantages that will be abolished by abolishing on the one side private debt money and on the other fossil fuels and nuclear power. Please bring these reforms suggested here to the attention of your Gilets Jaunes comrades!

3) The military crisis including nuclear proliferation in energy and military can only end by American soldiers refusing to serve in the American military and instead allying with social and environmental protestors and revolutionaries. Thus revolutionary movements in developing countries and developed countries must overthrow their Governments and institute the programmes and machinery to meet the social, environmental and peace goals we desire, in this way also supporting non-cooperation with military industrial complex by American soldiers.

To conclude, the environmental crisis has given new focus to the international revolutionary movement by revealing the interconnectedness of the world’s people by virtue of our common dependence on the intelligent macro-organism that is Earth. The financial reforms described above are the way to bring human activity organised in the political-economic sphere into harmony with Earth’s intelligence. Earth obviously wants all living and non-living beings to be happy, and humans to be happy too; and we do this by outlawing fossil fuels and nuclear energy and instead rewarded ourselves adequately for our work, in order to be able to participate in our local markets. It is not complicated, but the rich would make it so!

We send you our revolutionary greetings and may the poor of the Earth be victorious.

Anandi Sharan was born in Switzerland, lives in Bangalore and last year worked in Araria District Bihar, India. She works on trying to find the best money system to help people adapt to climate change especially in India.

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