3 Matching Annotations
  1. Oct 2022
    1. market was a market not in the commodity itself but in the price right by entering into the futures contract you weren't buying in selling wheat or corn you were buying and selling the

      Speculative futures traders resemble stock traders, only in a time when the most valuable commodities were grain. Each trader relies on an agreement between themself and another party to exchange a given amount of a commodity for a specific price. Similar to stocks, futures contracts were holdings that, in the representation of ownership over valuable commodities, could be bought, sold, and traded. In doing so, you want the value of a particular contract to be as high as possible when selling and low as possible when buying, in order to make the most return on your investment. This system has led to a disconnect between the source of specific commodities and how we understand them to be bought, sold, traded, and used.

    1. is a terrible drought that strikes so that at this point there there is a sense that for Indian people to survive the world is going to have to be made anew it's going to have to become a new

      The Ghost Dance was created by American Indians, in response to the unwanted presence/intrusions of white settlers on their territory. As more and more settlers pushed further west, Native populations not only lost the land they had occupied for hundreds of years but the resources they relied upon for just as long. White settlers, in this context, can reasonably be seen as an invasive species to the American landscape. However, rather than out-competing Native populations, colonial settlers dwindled their communities with the disease, forced migrations, and environmental degradation. These circumstances were so drastic to American Indians that they came up with a technique or code, in the Ghost Dance, to help bring about an end to the world they have been forced into. In doing so, they would unlock a new existence free of white settlers who are continually encroaching upon and inflicting themselves on your life. With all this in mind, I would be inclined to agree with Sclonit's assessment of the Ghost Dance from a technological standpoint. It is an organized and systematic practice meant to bring about a specific desired result or experience, in this case, a new world.

    1. braving the harsh conditions of the frontier to establish white settlements that would become prosperous cities and the rowdy and roaring camp towns in the mining industry for example contribute

      This sentiment of settlers "braving the harsh conditions" of the American West is entirely contingent on the dehumanization of Natives and a depiction of their lifestyle as primal/savage. It was seen as brave of these white settlers to expand into new territory, but savage of the Native Americans to defend the territory they have been pushed back to. These colonialistic actions were portrayed as means of taming the wild to make room for more civilized settlements. As such, the federal government was inclined to hand out land grants to those that secured land from Native Americans and from which their affairs could be governed. This set the precedence for Native reservations which, to this day, marginalize Native Americans and limit the opportunities available to them.