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that includes real estate in Monaco priced at 100K per square meter, works of arts jewels, stocks trading at 100+ PE etc. e.g. sh#t not convertible into shelte
by qaq 5y ago
that includes real estate in Monaco priced at 100K per square
meter, works of arts jewels, stocks trading at 100+ PE etc. e.g. sh#t not convertible into shelter, food and other things people need. It's not that elastic on a gloabl scale.
- Xylakant 5y agoThe majority of this is ownership, for example the Quandt family owns nearly 50% of BMW. Stefan Quandt alone owns 25% of BMW. It's pretty elastic - and that wealth share of 700 billion is owned by 500 out of 80 Million people or 0.000625% of the population.
- qaq 5y agoYou are assuming that thats convertible to something tangible which it isn't at global scale. We just had a large scale experiment in this area with Covid. Food prices went up real estate is through the roof.
- robertlagrant 5y ago> The majority of this is ownership, for example the Quandt family owns nearly 50% of BMW. This is still based on two massive misunderstandings: 1. This share is cash, when it is not. It is just evaluated as a cash value for simplicity. Removing these people's shareholding does not make actual money appear. 2. People have to buy shares in order for them to be worth anything. Why would anyone buy shares in your world?