Cog wrote:onlooker wrote:So pray if you care Cog, tell us in what or where you have your wealth?
Oh that"s right in the ultimate Ponzifaux source, the stock market. Enough said
Because that is where the real money in the world resides. Its not in your piggy bank or the coins in your couch or even in real estate. The real money of the world resides in the equity markets. You are either in or you are out. The market makers can make the market move up or down or sideways. I am not one of them but sometimes I'm lucky enough to figure out trends. As KJ says, this is real money we are talking about. Perhaps the most real money there is IMO.
I think the concept of “real money” is quite debatable. Market valuation, for most folks, is just what the malarkey reports, which is based upon the last sale. It’s decidedly NOT a valuation of the corporations assets.
Think of it like food. Some guy A, living in a town of 1,000 souls, has a million pounds of rice in his safe. Guy B decides he wants some rice so pays A 10 for a pound of rice. That does not mean A is worth 10 million dollars. If A wanted to liquidate his assets he would have to convience every person in town to take 1,000 pounds of rice.
The stock market is a lot like that.
Of course it’s more complicated, just trying to illustrate why so much of our wealth gap is really just “virtual wealth.” Perhaps the greatest example are bit coins.