by EnergyUnlimited » Sat 30 Jul 2011, 04:02:37
$this->bbcode_second_pass_quote('Novus', 'B')illionaires don't own hard assets they own untaxable hedgefunds and various securities. If they actually had owned hard assets the government could have taxed those and we wouldn't be in this mess to begin with as the billionaires never would have become billionaires if they were paying taxes on their principle growth funds. You clearly aren't paying attention to how the world of finance works.
Shares of sound corporations are as good as hard assets because these are deeds titles to companies in question.
Additionally once monetary system is endangered, bilionaires surely will use waning purchasing power of money to acquire land, water rights, mineral rights etc.
They are not fools, otherwise they would not be billionaires (OK, with the exception of few fools who inherited fortunes)..
You my say that in this process 90% of paper wealth will be lost.
Indeed, but this wealth was never there in the first place. Most of current paper wealth is just pretending.
One way or another you will end up with an outcome which I have projected before.
Billionaires will still control ~95% or so of total wealth.
And inhabitants of city where you live will pay local billionaire a lot of money for water coming out of tap.
And there will be a nasty rub.
They will have to pay in silver, not in paper...