In 1971, finance capital unhinged itself from requiring the backup of gold as the foundation for its transactions. From then on, we have a system which prints money when speculators get into trouble. But who benefits from these financial manipulations? Who benefits from the current stock-market euphoria? It comes as no surprise that blacks own considerably less that whites when it comes to finance capital. Since finance capital is self-expanding and whites overwhelmingly own more stocks, the financial gap between whites and blacks is growing larger.
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