Re: The One Percent Pt. 2
Posted: Sun 30 Dec 2018, 17:57:53
Then this is where I don’t get excited about the 1%. A lot of that value they are claiming is simply not real to begin with. It’s all this BS and baloney money. Stuff that exists on paper only.
So who dies if 16T in derivatives are wiped out? If it’s no one or even if it’s a few my point is made. There may be SOME small initial value in this ballon but most is vapor ware. Same with stocks. Gates is worth X billions, supposedly. But he can’t sell the stock, it must remain in the vapor. If MS stock drools 90%, who dies? Probably a few folks who are living on those dividends or who had hoped to sell to fund retirement will be hurt. But that was never real money, it is and remains Maddoff money until it is sold and transfered into something more tangible.
So who dies if 16T in derivatives are wiped out? If it’s no one or even if it’s a few my point is made. There may be SOME small initial value in this ballon but most is vapor ware. Same with stocks. Gates is worth X billions, supposedly. But he can’t sell the stock, it must remain in the vapor. If MS stock drools 90%, who dies? Probably a few folks who are living on those dividends or who had hoped to sell to fund retirement will be hurt. But that was never real money, it is and remains Maddoff money until it is sold and transfered into something more tangible.