Link to the first part: https://read.cash/@Enforsys/jargon-the-new-language-of-domination-a605ec8c
Link to the second part: https://read.cash/@Enforsys/jargon-the-new-language-of-domination-part-2-3f4e8cf5
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What is a financial institution’s most important task? Lending? Investing? Providing liquidity to the markets? A financial institution’s most important task is to create and maintain a high-level discursive environment in which fiat can function as a medium of exchange. Fiat, having no intrinsic value, cannot function outside of this narrative frame, of this discursive landscape. A financial institution sets a paradigm, and a structure of awareness, and it does so through Jargon.
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Modern financial institutions, existentially nihilistic, are pro-positions in the heideggerian sense, complexes of representations, projections - fronts. Banks, and this is the very mechanism of their perpetual deception, project a façade, presentify their façade as immanence and in the process do not merely distort reality - what the HSBC back-office is truly up to or which books the Goldman cronies are cooking this time - but create a new kind of reality by framing, in their own special way, a global narrative: the inverted world of high finance and investment banking. This façade as truth in a cruel parody of the idea of Gesamtkunstwork (total work of art) is continually refined via a mélange of plug-and-play corporate communications, information operations grade marketing, customer service mythodology and design - design as violence.
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“Ontologically” speaking, and in a radically constructivist sense, a financial institution is exactly what it claims to be.
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The abstract prattle of financial institutions is existentially nihilistic in the sense that it is imposed by a structure that, through the socialization of risk for the sake of private interests, absolutely refuses to embrace the subject as a subject.
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The essence of our modern financial institutions is the end product of modern metaphysics, a true Gestell of mankind and to understand this we need of course to go back to Kant, Descartes, Hegel and Fichte, the Fathers of modern metaphysics.
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Financial Jargon is a disconnected, disjointed narrative meaning it does not need to point, does not feel the need to point towards a general fact-world. It is dislocated, autotelic and quite satisfied in being a non-denotative language.
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Wells Fargo displays an acute mastery of Financial Jargon, when its corporate communications department sends press releases flying. Well Fargo created millions of fake bank accounts, witholding, with a wink and a nod, the fact that these accounts were in fact owned by no one, and therefore accidentally exposing the truth that the individual truly doesn't matter after all, a fact hastily brushed under the carpet. Crypto Twitter showed the world that it masters Jargon as well as Tom Stolper, Josh Brown and CNBC anchors, when, in a semantic hissy fit, it revelled in throwing "BCash" left and right, in an attempt to send a community flying head first into disarray and insignificance.
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Techical traders have always entertained a most problematic relationship with temporality. We can agree that, as finite beings, it is not possible for us to breach temporality, to peer into the future (the temporal dimension of the transrational), Time being the subject himself (Kant). Yet technical analysis pretends to do just that. Quid juris? What is needed, and here we need to proceed with a sense of urgency as this is one of the most pressing problems in finance today, is a Critique of chart Jargon, of the pretensions of technical analysis. This is the groundwork, a propaedeutic step towards an expansive doctrine of technical analysis, if such a thing is indeed possible.
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Foreign exchange sales is about narrative. Narrative stands at the horizon of the collective imagination of the investment banking community, and it finds its quintessential expression - naturally - in Finanz-Jargon. The Canadian housing bubble story, the New Zealand growth story, the Eurozone recovery story, it’s all about selling stories, compelling stories, to people who want to believe. As we say in FX chat rooms, it’s about flow: your clients give you the means, as they are invested emotionally and materially, of achieving success, however you define it. The same clients will be left holding the bag when the narrative unravels, as it always does.