speculative currency

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Blue Apple

Senior Member
Persian (Iran)
Does "speculative currency" in the text below mean "money"?​

Context:

Fetishism is a process, then, that allows for the simultaneous action of two contradictory meanings. It is a symbolic process at the level of the unconscious, involving an over-determined investment in an object through sight. This over-investment in the object is often applied to works of visual art in general, photography in particular, due to its analogical fixing and preservation due to its analogical fixing and preservation of an object, person or scene now lost in time. As the Surrealist-affiliated writer George Bataille once said, ‘No fetishist ever loved an old shoe more than an art lover ever loved a work of art.’ In this telling statement, we find an amalgamation of sexual and commodity fetishism, in that the standard against which value is being ascribed to the object is outside the logic of exchange, in the former case the phallus, in the latter gold, or more recently speculative currency. In fact, the French philosopher Jean Baudrillard suggests that just as the gold standard has transmogrified into the reification of speculative currency as the impossible imaginary standard by which values are ascribed, the phallus itself has transmogrified to become distributed and mobilised across the body as a whole (Art and Psychoanalysis by Maria Walsh).
 
  • reno33

    Senior Member
    English - USA
    Well, "money" can have several meanings. But I would say in this case "speculative currency " most likely means something like BITCOIN or similar types of digital currency that have become popular in recent years.
     

    velisarius

    Senior Member
    British English (Sussex)
    I don't know what Baudrillard meant, but he died before the new currencies like bitcoin came into existence..

    "Speculative currency" - a currency that can be traded against other currencies, as opposed to being valued against the gold standard?
     

    Ponyprof

    Senior Member
    Canadian English
    Here is where post modern Marxism meets post modern psychoanalysis.

    Again it would be useful for the poster to google around the sources that this article draws from.

    The commodity fetish is a Marxist term.

    This text overall is interested in how we attribute imaginary value to things. Why do we think gold is valuable, and why do we think currency is valuable as an investment?

    As the concept is attributed to Baudrillard who is a very well known though somewhat epigrammatic cultural theorist, I'd suggest going to his work to try to understand the implications of this idea.
     
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