This video is an essential watch if you want to understand how economy and society works, and I will try to point out the solution…

“In this wide-ranging conversation, Alex Krainer joins India & Global Left to unpack the decline of the West through the deeper history of capitalism’s credit and monetary system. Krainer traces how structural imbalances, debt expansion, and financial dominance have pushed Western economies toward long-term crisis. From here, the discussion opens into a surprising and friendly debate on capitalism vs socialism: Do the two systems have fundamentally different management functions? Are their efficiencies comparable? And can one model ultimately work better for societies facing today’s global challenges?”

Sorry that I do not have a Serbian translation.

Key points:

• Financial capitalism is a Ponzi scheme that works only while system grows
• New resources and new technology as a collateral for more credit
• Proxy armies as a final stage of collapse
• Social revolt rise up when means of exchange dry up – need for an external enemy
• Debt as a common denominator of ‘capitalism’ and ‘socialism’
• The difference? Government fund distribution; Bottom Up vs. Top Down
• Both systems are unsustainable because of – money control!
• Why top down approach is better
• Keynes worked for the Banking Cartels

This extraordinary explanation of the functioning of today’s metastatic state of financial capitalism is definitely worth a look. I have absolutely no objections to it. My objection and addition will relate to the second part of the conversation: the comparison of ‘capitalism’ and ‘socialism’, and to the only thing missing – a solution.

The objection relates to terminology – the two systems of governance that Alex Krаiner describes are both actually capitalism! He actually calls completely degenerate, monstrous, destructive, liberal capitalism (in which funds go from the bottom up, to the richest stratum) ‘capitalism’, and state-controlled capitalism (in which funds go from the top down, to the broadest masses) ‘socialism’. And he clearly has this in his subconscious, because at one point (at [18:20]) he recalled: “I grew up in former Yugoslavia. We had a socialist system with a one party communist regime, but we had the same monetary system. And all the same symptoms of decline in society emerged in the late 70s and 80s, the same as they are now in the West.”

So, he is aware that you can call the same system by different names, and then make a reason for social tension out of it, so that the robbed people would not have time to think, to ask and understand what is happening to them, and who is to blame for everything. A few minutes later, (at [25:53]) he says: “You know, there’s no question that there are certain fundamental differences between the socialist system and the capitalist system or at least you know the way what we label as the socialist system and the capitalist system.”

Exactly. It is just a matter of label. Socialism never existed. Of the two capitalist modes of governance, state capitalism (top down) has proven to be the more humane and efficient – but since it rests on the same, controlled monetary system, it is also inevitably susceptible to corruption, and therefore appears only as an early stage of the advanced catastrophe called liberal capitalism. The USSR was state capitalism and disappeared when strict controls on corruption disappeared with Stalin. Today’s China is state capitalism in which corruption is punishable by death. China is still stuck in a central banking monetary system. Guess what will happen to China when the ruling elite changes, when society is liberalized by improving standards, and when the death penalty for corruption is abolished?

Does this mean that true socialism is a Utopia? It doesn’t. It is only impossible in conditions where you have someone – in this case a financial plutocracy – who controls the money. Socialism will only be possible when people wake up and embrace objective measure of value that can’t be controlled – decentralized cryptocurrencies. In this sense, Bitcoin is not just a measure of value, nor is it just an Internet of Money, nor is it anything that the tabloid press and the toxic centralized social media are writing about. Bitcoin is more than that – it is a recipe for liberation. Just as described by Professor Saifedean Ammous in his book The Bitcoin Standard – The Decentralized Alternative to Central Banking.

The people are now left to decide between freedom or slavery…