Angel Martinez’s Reviews > Fictitious Capital: How Finance Is Appropriating Our Future > Status Update
Angel Martinez
is 19% done
Derivatives = instruments that allow certain
economic actors to protect themselves against asset price variations by
transferring the risk to speculators. Speculators hope to realise
a profit by correctly anticipating price movements. The speculative side
attractive bc these financial products are totally shorn of
the characteristics of the assets concerned, apart from one: the changes in
their prices. (pg 27)
— Jun 03, 2026 08:58AM
economic actors to protect themselves against asset price variations by
transferring the risk to speculators. Speculators hope to realise
a profit by correctly anticipating price movements. The speculative side
attractive bc these financial products are totally shorn of
the characteristics of the assets concerned, apart from one: the changes in
their prices. (pg 27)
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Angel’s Previous Updates
Angel Martinez
is 39% done
The power of fictitious capital (bank credit, public debt, company bonds, shares) relies on its high liquidity. Tradeable equities represent both 1) access to earning flows and 2) a wealth that can instantly be converted to real money at prices corresponding to the financial community's self-referential expectation of future returns (pg 56)
— Jun 05, 2026 07:15AM
Angel Martinez
is 35% done
"...we should hold onto is the idea that
credit not compensated by savings will not ultimately translate into
accumulated capital" (pg 51).
This has me thinking about the way these tech billionaires are using pensions and retirement savings of working people to leverage their tech/AI investments.
— Jun 04, 2026 02:04PM
credit not compensated by savings will not ultimately translate into
accumulated capital" (pg 51).
This has me thinking about the way these tech billionaires are using pensions and retirement savings of working people to leverage their tech/AI investments.
Angel Martinez
is 32% done
The term 'fictitious capital' mostly associated with Friedrich Hayek & Karl Marx (pg 46)
— Jun 04, 2026 11:28AM
Angel Martinez
is 24% done
Per Minsky, the past present and future are linked not just by capital and labor power, but also by credit
— Jun 04, 2026 08:31AM
Angel Martinez
is 14% done
Pg 21 - lowkey this talk of insider trading and front running has me thinking on the polymarket stat that only 0.1% of accounts take home 67% of the profits. Surely those 0.1% have insider knowledge that no one else does. like that American marine who bet on the illegal US invasion of Venezuela and won big
— Jun 03, 2026 07:33AM
