Free Commodity Futures Quotes

deeply into pile carpeting that threatens to swallow us whole. A burnished steel FTW logo stretches across the wall with the tagline Feeding the World just below it. Black-and-white photos of basic foodstuffs dot the walls—bushels of maize and soybeans, fields of grain. Feeding the world, my ass, I think as we’re shuttled toward a meeting room. I’ve done some reading up on these folks. FTW is a commodity-trading firm that works to manipulate the futures market to drive up prices. There seems to be nothing that the world’s bankers believe they shouldn’t be free to exploit, including food staples. I imagine that in their perfect world, bankers would pocket a penny or two with every bite.

Authentic and sustainable solidarity efforts must be premises on this broader understanding of why Black lives matter, why they have not mattered historically, and why they still do not matter today as they should. Centralizing Black communities in the current moment is how genuine solidarity begins. South Asian, Arab, and Muslim activists have been a careful not to co-opt or expand this premise by applying it to their communities - by stating “All Lives Matter” or “South Asian Lives Matter,” for example. This stems from the knowledge that when Black lives actually matter, when Black people are not seen as disposable commodities, then all lives will truly matter. In other words, when Black people, who are at the bottom of America’s divisive racial ladder, are free, it will be impossible for systems and policies to engage in discrimination and racism against other communities of color.

There is a specific variant of the principle of the guaranteed income which, although not likely to be accepted at present, constitutes an important principle. I am referring to the principle that the minimal requirements for a dignified life are not obtained on a cash basis, but as free commodities and services which do not require payment. We have accepted this principle for elementary schooling, nor does anyone have to pay for the air he or she breathes. One could begin to extend this principle to all higher education, which could be completely free, with a stipend for every student, making it possible for him to enjoy free access to education. We could also extend the principle in another direction, namely, have basic commodities free, beginning perhaps with free bread and free transportation. Eventually it could be extended to all commodities inasmuch as they constitute the minimum material basis for a dignified life. Needless to add, this vision is utopian as far as its realization in the near future is concerned. But it is rational, both economically and psychologically, for a much more advanced state of society.

Learning to meditate helped too. When the Beatles visited India in 1968 to study Transcendental Meditation at the ashram of Maharishi Mahesh Yogi, I was curious to learn it, so I did. I loved it. Meditation has benefited me hugely throughout my life because it produces a calm open-mindedness that allows me to think more clearly and creatively. I majored in finance in college because of my love for the markets and because that major had no foreign language requirement—so it allowed me to learn what I was interested in, both inside and outside class. I learned a lot about commodity futures from a very interesting classmate, a Vietnam veteran quite a bit older than me. Commodities were attractive because they could be traded with very low margin requirements, meaning I could leverage the limited amount of money I had to invest. If I could make winning decisions, which I planned to do, I could borrow more to make more. Stock, bond, and currency futures didn’t exist back then. Commodity futures were strictly real commodities like corn, soybeans, cattle, and hogs. So those were the markets I started to trade and learn about. My college years coincided with the era of free love, mind-expanding drug experimentation, and rejection of traditional authority. Living through it had a lasting effect on me and many other members of my generation. For example, it deeply impacted Steve Jobs, whom I came to empathize with and admire. Like me, he took up meditation and wasn’t interested in being taught as much as he loved visualizing and building out amazing new things. The times we lived in taught us both to question established ways of doing things—an attitude he demonstrated superbly in Apple’s iconic “1984” and “Here’s to the Crazy Ones,” which were ad campaigns that spoke to me. For the country as a whole, those were difficult years. As the draft expanded and the numbers of young men coming home in body bags soared, the Vietnam War split the country. There was a lottery based on birthdates to determine the order of those who would be drafted. I remember listening to the lottery on the radio while playing pool with my friends. It was estimated that the first 160 or so birthdays called would be drafted, though they read off all 366 dates. My birthday was forty-eighth.

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Before turning to Marx’s writings, we must note the radical divide that separates his position from orthodox Marxism. Marx never conceived of socialism or communism as state control of the economy. Nor did he ever endorse the notion of a single-party state that rules on behalf of the masses. His conception of the new society is thoroughly democratic, based on freely associated relations of production and in society as a whole. He was primarily concerned with freeing individuals from alienated and dehumanised social relations—not simply with increasing the productive forces so that developing societies can catch up with developed ones… [Marx] then turns to the future, writing: “Let us finally imagine, for a change, an association of free people, working with the means of production held in common” (Marx 1977: 171). This does not refer to a formal transfer of private property to collective or state entities. Transferring property deeds is a juridical relation, which does not end class domination. Marx refers to “free people” owning the means of production, which means they exert effective and not just nominal control over the labour process. And that is not possible unless the producers democratically control the labour process through their own self-activity. He then goes on to state that in this post-capitalist society, products are “directly objects of utility” and do not assume a value form. Exchange value and universalised commodity production come to an end. Producers decide how to make, distribute, and consume the total social product. One part is used to renew the means of production; the other “is consumed by members of the association as means of subsistence” (Marx 1977: 171–72). He invokes neither the market nor the state as the medium by which this is achieved. He instead envisions a planned distribution of labour time by individuals who are no longer subjected to socially necessary labour time. Abstract labour is abolished, since actual labour time—not socially necessary labour time—serves as a measure of social relations.

Grieving for their future, men and women often took their own lives. Others died when they could not maintain the feverish pace of the march. While the mortality rate of slaves during the Second Middle Passage never approached that of the transatlantic transfer, it surpassed the death rate of those who remained in the seaboard states. Over time some of the hazards of the long march abated, as slave traders - intent on the safe delivery of a valuable commodity - standardized their routes and relied more on flatboats, steamboats, and eventually railroads for transportation. The largest traders established 'jails,' where slaves could be warehoused, inspected, rehabilitated if necessary, and auctioned, sometimes to minor traders who served as middlemen in the expanding transcontinental enterprise. But while the rationalization of the slave trade may have reduced the slaves' mortality rate, it did nothing to mitigate the essential brutality or the profound alienation that accompanied separation from the physical and social moorings of home and family. ... [T]he Second Middle Passage was extraordinarily lonely, debilitating, and dispiriting. Capturing the mournful character of one southward marching coffle, an observer characterized it as 'a procession of men, women, and children resembling that of a funeral.' Indeed, with men and women dying on the march or being sold and resold, slaves became not merely commodified but cut off from nearly every human attachment. Surrendering to despair, many deportees had difficulties establishing friendships or even maintaining old ones. After a while, some simply resigned themselves to their fate, turned inward, and became reclusive, trying to protect a shred of humanity in a circumstance that denied it. Others exhibited a sort of manic glee, singing loudly and laughing conspicuously to compensate for the sad fate that had befallen them. Yet others fell into a deep depression and determined to march no further. Charles Ball, like others caught in the tide, 'longed to die, and escape from the bonds of my tormentors.' But many who survived the transcontinental trek formed strong bonds of friendships akin to those forged by shipmates on the voyage across the Atlantic. Indeed, the Second Middle Passage itself became a site for remaking African-American society. Mutual trust became a basis of resistance, which began almost simultaneously with the long march. Waiting for their first opportunity and calculating their chances carefully, a few slaves broke free and turned on their enslavers. Murder and mayhem made the Second Middle Passage almost as dangerous for traders as it was for slaves, which was why the men were chained tightly and guarded closely.

Arbitrage is a "risk-free" profit, but for most of us, it might as well be a mirage. Markets are quick to eliminate such opportunities.

In a recent article, Zuboff exposes this hoax of free services in her powerful voice: We celebrated the new digital services as free, but now we see that the surveillance capitalists behind those services regard us as the free commodity. We thought that we search Google, but now we understand that Google searches us. We assumed that we use social media to connect, but we learned that connection is how social media uses us. …We’ve begun to understand that “privacy” policies are actually surveillance policies.… The Financial Times reported that a Microsoft facial recognition training database of 10 million images plucked from the internet without anyone’s knowledge and supposedly limited to academic research was employed by companies like IBM and state agencies that included the United States and Chinese military.… ….Privacy is not private, because the effectiveness of these and other private or public surveillance and control systems depends upon the pieces of ourselves that we give up—or that are secretly stolen from us.5 The private flow of data from consumer to machine also promotes the transfer of human agency from humans to machines. The data that surveillance companies capture is their source of power and is the fuel for the new economy of trillions of dollars. Zuboff has called this a “bloodless coup from above” and warns of a growing gap between “what we know and what is known about us”.6 By figuring out the cognitive comfort zones for individuals, AI-driven systems can deliver emotional and psychological needs, thus gradually

Commodity information (everybody gets the same version) wants to be free. Customized information (you get something unique and meaningful to you) wants to be expensive.

Most people blindly assume that machines will only be used as our slaves, when they are just as likely to be used in our enslavement. Individual freedoms, liberty and equality are a relatively new state of affairs for most nations, and as a species we have considerably more experience in treating people as commodities than as free agents.