Links – Feb. 27, 2019

Venezuela

Notes From the Streets of Venezuela—The People Are Resilient in the Face of Foreign Intervention Vijay Prashad

Venezuela: Communication Minister Shows Truth of Border Violence teleSUR

Half-Billion Dollars of Sanction-Stained Oil Sits Off Venezuela Bloomberg

U.S. imposes new sanctions on Venezuela as Pence delivers warning UPI

Venezuela sanctions pose risks for financial institutions Axios

Venezuela rejects Ukrainian coup scenario: Borotba at International Peoples’ Assembly

U.S. Navy ships pass through strategic Taiwan Strait, riling China Reuters

MMT, Minsky, Marx and the money fetish Michael Roberts

Minsky’s journey from socialism to stability for capitalist profitability comes about because he and the post-Keynesians deny and/or ignore Marx’s law of value, just as the ‘market socialists’, Lange and Lerner, did. The post-Keynesians and MMTers deny that profit comes from surplus value extracted by exploitation from the capitalist production process and it is this that is the driving force for investment and employment. Instead they all have a money fetish. With the money fetish, money replaces value, rather than representing it. They all see money as both causing crises and also as solving them by creating value! That leads them to ignore the origin and role of profit, except as a residual of investment and consumer spending.

UN court ruling puts future of strategic US military base Diego Garcia into question CNN

IMF, Development Banks Agree to $10.2 Billion Bailout for Ecuador WSJ

The truth about Seumas Milne, Jeremy Corbyn and the new McCarthyism Middle East Eye

72% of Okinawa voters oppose work off Henoko for U.S. base Asahi Shinbun