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Your claim is that people would rather destroy their wealth in an asset crash, over giving a piece of it up?
by judk 13y ago
Your claim is that people would rather destroy their wealth in an asset crash, over giving a piece of it up?
- Mikeb85 13y agoNo. But if everyone worth a billion had to liquidate even 5% of it, it would cause huge dip in the market, and in turn funds and retail investors would sell off shares, people would hoard cash overseas, and a crash would be the end result. We saw in France a huge uproar over the threat of a 75% tax, thankfully the courts declared it illegal...