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Extremely logical - after a certain point, wealth is just meaningless numbers in financial computers, only expressed as the control of major organizations like

by zrn900 2y ago

Extremely logical - after a certain point, wealth is just meaningless numbers in financial computers, only expressed as the control of major organizations like corporations. Its literal unbounded power. We limited the power of kings and dukes. But we are allowing the same kind of power to those who hoard imaginary wealth that cannot be spent on actual things - it cannot be spent on actual things, because it is estimated that the amount of wealth stored in Swiss banks (leave aside derivatives etc) have already surpassed multiple times of the value of everything on the planet. So there is wealth on the planet that can buy the entire planet dozens of times over. And yet hoarding continues at great cost to the society.

alecco 2y ago
But money is meaningless. Your "money" in the bank is just a number their systems says you have in their virtual game. And in turn, the same for them and the Fed. It's easily changed in a second.
- brnt 2y ago
  Money is a measure of value, and value is conferred, not intrinsic. Therefore, money is what we believe it is, and all things considered, it looks like we think it's worth something.
blackhawkC17 2y ago
Swiss banks hold 8.8 trillion CHF ($9.7 trillion) in deposits [1], not enough to buy everything in Africa, not to mention the world. I'm not defending inequality, but some stats don't just make sense when I read them online and I see a need to correct. 1- https://publications.swissbanking.ch/banking-barometer-2022/assets-under-management https://publications.swissbanking.ch/banking-barometer-2022/...
- zrn900 2y ago
  > Swiss banks hold 8.8 trillion CHF ($9.7 trillion) in deposits [1], not enough to buy everything in Africa, not to mention the world That's what they tell us. In any case, you could just take derivatives if you would like a more definitive estimate. Or futures. The latter is crazy as it monetizes the literal future of the planet.
  - blackhawkC17 2y ago
    Now compare the volume of derivatives in the USA, Canada, Germany, and other parts of the globe. Point still stands…Swiss bank assets can’t buy even Africa, not to mention the whole globe. And that’s not “what they tell us.” Swiss banks are required to report their deposits to regulators and always do that. But conspiratorial people always look for a boogeyman under the hood..
    - zrn900 2y ago
      What part of that is 'conspiracy'. Replace the swiss banks with derivatives or whatever 'investment tool' or concocted wealth that is sucking the planet dry if that example is not to your liking. The point still stands.

by zrn900 2y ago

alecco 2y ago

But money is meaningless. Your "money" in the bank is just a number their systems says you have in their virtual game. And in turn, the same for them and the Fed. It's easily changed in a second.

brnt 2y ago
Money is a measure of value, and value is conferred, not intrinsic. Therefore, money is what we believe it is, and all things considered, it looks like we think it's worth something.

blackhawkC17 2y ago

Swiss banks hold 8.8 trillion CHF ($9.7 trillion) in deposits [1], not enough to buy everything in Africa, not to mention the world. I'm not defending inequality, but some stats don't just make sense when I read them online and I see a need to correct. 1- https://publications.swissbanking.ch/banking-barometer-2022/assets-under-management https://publications.swissbanking.ch/banking-barometer-2022/...

zrn900 2y ago
> Swiss banks hold 8.8 trillion CHF ($9.7 trillion) in deposits [1], not enough to buy everything in Africa, not to mention the world That's what they tell us. In any case, you could just take derivatives if you would like a more definitive estimate. Or futures. The latter is crazy as it monetizes the literal future of the planet.
- blackhawkC17 2y ago
  Now compare the volume of derivatives in the USA, Canada, Germany, and other parts of the globe. Point still stands…Swiss bank assets can’t buy even Africa, not to mention the whole globe. And that’s not “what they tell us.” Swiss banks are required to report their deposits to regulators and always do that. But conspiratorial people always look for a boogeyman under the hood..
  - zrn900 2y ago
    What part of that is 'conspiracy'. Replace the swiss banks with derivatives or whatever 'investment tool' or concocted wealth that is sucking the planet dry if that example is not to your liking. The point still stands.