Query on Passage from "Ch. 6, Results..."

[Carrol Cox <cbcox@xxxxxxxxx>]

I'm reading this in the CW, and I've come to a sentence which simply
will not construe. [Insert, after typing it out I find it a bit clearer,
but I'd still like to see a gloss.]

I'm wondering if anyone can illuminate by reference to the Vintage text
or the original German. It appears on CW 34, p. 392 (the chapter begins
pg. 355 of the volume). It is in a passage of a number of pages dealing
with the _use_ value of _capital_. A paragraph (p. 390) begins with "The
production of capital, seen from the point of view of reality . . . is
above all _a real labour process_. The following paragraph (p. 391)
begins with "_Firstly_: The  commodities the capitalist has bought . . .
." That paragraph (on p. 392) ends with "This is the basis for the
fetishismm of the political economists."

The sentence that throws me immediately precedes:

***
Hence where the capitalist production process is the basis the _use
values_ in which capital exists in the form of _means of production, the
character of these _things_ as _capital_, which is a particular social
relation of production; just as to those caught up in this mode of
production the _product_ counts as in and for itself a _commodity_. This
is the basis . . .fetishism.... (CW 34, pg.392)
***

These pages seem to me pretty important, and I want to be reasonably
sure I'm construing correctly this sentence.

Carrol