CONTENTS

1) The price of American currency unit
2) The World stock market
3) The Frauds of the U.S. Federal Reserve System
4) Movement of world finance
5) Structure of GDP and structure of employment
6) Export and import
7) Gold of contention

1) The price of American currency unit

1st version
Let’s start with the most occult subject of modern bourgeois life, with American dollar. What is its cost in reality? Let’s make use of calculations offered by V.Chernishev in his work “Revolution is permanent”. Generally his formulas are correct both in terms of logic and in accordance with Marxist economic theory. We take into account that toward capitalist expanded reproduction the following inequality should be applied:
I(V + M) > IIC.
As for the calculations in this source they are not fully correct. The price of dollar seems too nominal. I guess he used incorrect figure of material costs (С) which includes fixed assets of main economic sectors. These assets are not consumed within one production cycle but transfer its value gradually into commodities within several production periods.
So, have a look on dollar price. For the calculation of dollar price (the price of American economy is the same thing) we need the following figures: profit by economic sectors (M), compensation of employees by all sectors of economy (V), output in basic prices by sectors of the U.S. economy (C +V +M), gross domestic product or added value by sectors (V + M) .
First of all we working out increment of material product: newly produced value of the first division (I) of material production (production of means of production) minus value of fixed assets of the second division (II) of material production (production of consumer goods) – I(V + M) – IIC.

The result should exceed costs of consuming sectors of economy, such as infrastructure (energetic, transport, communication, trade, finance) and non-material production (services, state management, and defense). First division of material production consists of agriculture, forestry and fishing and part of industrial sectors producing non-durable goods.
There is a series of material product increment figures from 1995 to 2000 in accordance with formula mentioned above (in millions of dollars):

No new value is produced in infrastructure (IN) and in non-material production (NP). Here we only should talk about adding of labour costs and income of capitalists in its sectors, and also adding of capital goods depreciation, raw materials and energy in these sectors. What is assumed in figures of “output in basic prices” is not related directly with these sectors since they are transporting, transforming, redistributing and consuming material product of primary sectors of material production (MP).
Therefore, if we deduct output in basic prices of material production (C + V + M)MP from “output in basic prices” (C + V + M)IN+NP of infrastructural and non-material production sectors we get material costs of infrastructure and non-material production. Then we add compensation of employees (V) and income of capitalists (M) in its sectors to these costs. Such move is the most logical: we fixing what particular expenses society bearing for keeping infrastructure and non-material production.
The sum we got will be denominator of main fraction while numerator will be an increment of material product. Finally we obtain the value of true dollar price (or the price of American economy) against nominal value. That means we get to know the safety factor of material sector of economy: increment of material product, which is divided to COSTS of non-material sectors, gives us the price of the U.S. economy and the dollar respectively.

2 version
We may apply the next version of the formula where denominator will be compensation of employees, income of capitalists and capital funds depreciation in infrastructure and non-material production:

Denominator in this formula may be determined as “output in basic prices” in infrastructural and non-material sectors of production, as they have all required components: С, V и M. That is costs of capital, compensation of employees and profit of mentioned above sectors. Increment of material product as numerator of fraction is contrasting with that sum.
3 version
Here we talk about some lightened 2nd version, because depreciation of capital funds of consuming sectors is taken away.

Certainly we made some admissions. For instance, we do not take into account taxes on profits and wages reducing them. However tax deduction from “profits and wages” of consuming sectors has none economic sense but leads to growth of government and governmental expenditures on new fields of activity respectively. Even if we sum taxes of all sectors of material production and personal taxes paid by citizens they won’t be enough to cover the costs of infrastructure and services sectors:

Table 1. Taxes of profits and personal taxes in the U.S. economy, 1995-2000 (m$)

4 version
We deduct output in basic prices of material production sectors from one of infrastructure and services. Then we add to result figures of state investments to military production and structures, since they are subtract from material production product.

5 version
Nest way of calculation is the some addition to the 1st version provided with data of the U.S. governmental debt from IMF source (IFS, July 2001).

6 version
The second version we add with figures of the U.S. governmental debt.

The result can be compared with version five results, because in both cases there is a federal government debt figure of the USA.
7 and 8 versions
The two last versions present five and six versions of dollar price calculation added with investments to military production and new military structures:

Таблица 2. Некоторые показатели работы экономики США за 1995-2000 гг. (млн. долл.)

The result of eighth version of calculations for the period from the year 1995 to 2000 give us price fluctuations of commodity “dollar” within the following limits:

All versions give us movement of dollar price in percents of its face value. Curiously enough growth of price is determined by decline in some leading sectors of the U.S. economy and by upturn for instance in construction and agriculture for specified period. Moreover, American securities loosing “air” as a result of attacks on New York and Washington at the 11th of September 2001.
Reader, don’t be fooled by the growth of dollar price. Mostly it is due to unbelievable development of internal demand as the result of spreading out of large-scale war-cosmic program – National Anti-rocket Defense. All sectors of economy including material sectors get additional orders and volumes. It is well-known that governmental military ordering system has some price tricks. These tricks tend to rise up prices for the “products” for final consumer that is government, defense ministry in particular.
The price of dollar and of American national economy fluctuated these years within the limits of 0,5% to 3% for nominal cost. It means that the price of American economy was overestimated (or was not compensated by necessary material product) in 30 up to 200 times in accordance with version of calculation. Let’s talk about a value of dollar in chapter “Gold of contention”.
We may neglect this fact whether dollar would not dominate in world finance: 57% of world exchange resources for instances in 1997 were in dollars. Thus dollar remains the leading payment and rated mean in world economy. Dollar is the principle exchange in working documents of IMF, in trade balances figures of majority countries. Then how does world economy can manage with the situation of over-estimated dollar prices?
In this case I agree with V.Chernishev that dollar is still saved by the system of worldwide bank network which belongs to USA and its principal partners of industrially developed countries. The system of global administrative and financial mechanisms created by IMF and World Bank also serves to parasitic Euro-American dollar economy.
The threat of potential crash in world capitalist economy is already existing in American dollar which price is extremely overstated.

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