This paper proposes a critical analysis of that interpretation of the Nāgārjunian doctrine of the two truths as summarized—by both Mark Siderits and Jay L. Garfield—in the formula: “the ultimate truth is that there is no ultimate truth”. This ‘semantic reading’ of Nāgārjuna’s theory, despite its importance as a criticism of the ‘metaphysical interpretations’, would in itself be defective and improbable. Indeed, firstly, semantic interpretation presents a formal defect: it fails to clearly and explicitly express that which it contains logically; (...) the previously mentioned formula must necessarily be completed by: “the conventional truth is that nothing is conventional truth”. Secondly, after having recognized what Siderits’ and Garfield’s analyses contain implicitly, other logical and philological defects in their position emerge: the existence of the ‘conventional’ would appear—despite the efforts of semantic interpreters to demonstrate quite the contrary—definitively inconceivable without the presupposition of something ‘real’; moreover, the number of verses in Nāgārjuna that are in opposition to the semantic interpretation (even if we grant semantic interpreters that these verses do not justify a metaphysical reconstruction of Nagarjuna’s doctrine) would seem too great and significant to be ignored. (shrink)