npub1g2dmyew9t9lhdn5hr53q5slay4j8375uln4x2hxrksjrnhwl968qwr83a0 (npub1g2d…83a0) The idea of "hoarding billions" is not a very realistic one. No billionaire has a money bin like Uncle Scrooge McDuck, and they haven't got billions in their bank accounts, either. What they have is investments, shares, bonds, etc., pieces of paper or entries in databases that tell anybody who needs to know what these oligarchs "own". Their billions are mostly fictitious, based upon the current market values of private companies and things like that, and those billions would collapse to nothing and take much of the entire financial sphere down if they tried to convert them to actual money.
What those billions really represent is power. If you own enough shares, you can use that to influence what a company does. You can make armies of workers do what you want. You can make politicians do what you want.
Lord Caramac the Clueless, KSC /
npub19u…g6hsy
2023-09-01 15:14:09
in reply to nevent1q…fthn
Author Public Key
npub19u4ha9q5zm5p0c6lq7055ftsxnn90nkc2pn4slewyzf5nzzf98nsug6hsyPublished at
2023-09-01 15:14:09Event JSON
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"content": "nostr:npub1g2dmyew9t9lhdn5hr53q5slay4j8375uln4x2hxrksjrnhwl968qwr83a0 The idea of \"hoarding billions\" is not a very realistic one. No billionaire has a money bin like Uncle Scrooge McDuck, and they haven't got billions in their bank accounts, either. What they have is investments, shares, bonds, etc., pieces of paper or entries in databases that tell anybody who needs to know what these oligarchs \"own\". Their billions are mostly fictitious, based upon the current market values of private companies and things like that, and those billions would collapse to nothing and take much of the entire financial sphere down if they tried to convert them to actual money.\nWhat those billions really represent is power. If you own enough shares, you can use that to influence what a company does. You can make armies of workers do what you want. You can make politicians do what you want.",
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