From his early translations to the overflowing of The Arcade Project’s convolute devoted to the poet at the end of the 1930s, Walter Benjamin had an uninterrupted dialogue with Baudelaire's work. Starting from what will have been the Baudelaire book, his last unfinished and fragmentary book (whose manuscripts, entrusted to Georges Bataille, were discovered by Giorgio Agamben in 1981), the thesis follows the movement of "convergence" of his main philosophical motifs within the closed universe of Les Fleurs du mal. Materialist writing impregnated with theology questions the figure of the decline of the aura as well as the untimely recourse to allegory and correspondences, both being the conditions for the survival of lyric poetry in the historical context of capitalism which could have signed its death warrant. The critical rescue operation lies within the political ambiguities of a work that appears both as a symptom and a response to reification. To dissipate the appearance of repetition that pervades the historical scene of the Second Empire, it indexes its signature in the history of revolutions, through mourning and melancholy, and deciphers in Baudelaire's heroic Paris the terrain of a vast poetic conspiracy. According to Benjamin, to present for the 19th century "the expression of the economy in its culture" was to show that the resurgence of allegory and its secrets is based on the specific devaluation of the world of things by commodity. The "metaphysical subtleties" and "theological niceties" that fell under Marx's eye are indeed already implicated by Baudelaire in the enigma of modernity and in his practice of fetishism, which appropriates the aura of commodity by transforming it into a "poetic object". By relating the experience of commodity to the allegorical experience, the poet and the critic cultivate the seeds of a ciphered writing that opposes its interrupting power to the infinite time of passage and sublation. Lyrical production finds its legitimacy in a world sinking into rigor mortis, which has become a "store of images and signs", where it remains to look for the bifurcations capable of accomplishing the fragments of utopia that lie in memory. The collection of dialectical images exhumed in Les Fleurs du mal thus traces the main lines of a poem of Capital that acts out the catastrophic course of history without giving up probing its aftermath and its unhoped-for blossoms.