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World’s five richest men double their money as poorest get poorer
(www.theguardian.com)
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this post was submitted on 15 Jan 2024
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There’s very little actual paper. It’s just numbers on a computer screen. They’re hoarding numbers made of light. Resulting in the rest of us getting screwed.
There's very little light. They're hoarding bits of electromagnetic patterns on silicon wafers and platters shoved into noisy boxes
One day, I’m going to dive and swim in a giant vault filled with my own hoard of electromagnetic bits. Then people like me better watch their step!
Like this?
The chances of becoming that rich:
Mission: Impossible indeed. XD
Its a high score video game for them.
Its actually investments. Sure those investments are generally tracked by a computer but the computer isnt the important bit
Keep in going down layer after layer and you'll ultimatelly find it's all ownership claims on limited resources and the products made from such resources and trillions of man hours of work (which in turn also boils down to the resource which is "time", specifically "fractions of human life").
Also there's quite a lot of things directly and indirectly owned that whilst abstract and naturaly infinite, were made scarce by Laws, such as copyrighted materials (which could otherwise be freely duplicated) or brands who are only worth something due to trademark (as otherwise anybody could use any brand mark, so brand marks would have no recognition or trust value).
They're hoarding IOU claims on resources.
That's why it's a problem for everybody else.
It they were just meaningless numbers with no real link back to things which are scarce, it would be absolutelly fine (unhealthy for them but fine for everybody else).