Location: Suffolk
Posts: 1,998
I'm guy.
LP12, Ittok (black), DV10X5, NVA Phono 2 (twin supply), NVAP50, Art Audio Quintet 15w power amp, NVA LS5 cable, Rega Ela mk1's.
Sony CDP XB930.
Well have to admit my post was a bit tongue in cheek. Just wanted to point out that the whole thing with money and debt is complex and it isn't as simple as just doing a Robin Hood and robbing from the rich to give to the poor.
As far as the debt goes that's 'money' that is created out of thin air. If you borrow £100K off the bank to buy a house they don't actually give you £100K of their own money out of the vaults. So no, you can't count the debt as wealth.
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.
Also it isn't a zero-sum game. If Geoff Bezos gets richer that doesn't mean someone else has to get poorer. So the idea that people hoarding vast sums of money means there is less for the rest of us doesn't hold water. Nevertheless, blaming rich people for poverty does play well in the sticks.
Marco's point about individuals being wealthy enough to influence the political process does have some merit to it. But really it's mostly the big corporations that have that power, not individuals.
Added to which wealthy individuals can't actually access most of that wealth. Most is in shares which they can't just cash in for various reasons. Bezos may be 'worth' $170 billion but he doesn't have that in cash at bank.
Once you compare that to government spending, it's a drop in the ocean. UK government spent £772 billion in 2016-2017 - US Federal government spent over $4 trillion last year.
Even if you confiscate all the super wealthy people's 'money' it would be gone in a matter of months and wouldn't change things very much if at all.
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.
I just dropped in, to see what condition my condition was in
T/T: Inspire Monarch, X200 tonearm, Ortofon Quintet Blue. Phono: Project Tube Box CD: Marantz CD6006 (UK Edition); Amp: Musical Fidelity A5 Integrated.
Speakers: Zu Omen Def, REL T9i subwoofer. Cables: Atlas Equator interconnects, Atlas Hyper 3.0 speaker cables
T'other system:
Echo Dot, Amptastic Mini One,Arcam A75 integrated, Celestion 5's, BK XLS-200 DF
A/V:
LG 55" OLED, Panasonic Blu Ray, Sony a/v amp, MA Radius speakers, REL Storm sub
Forget the past, it's gone. And don't worry about the future, it doesn't exist. There is only NOW.
KICKSTARTER: ENABLING SCAMMERS SINCE 2009
A 'high street bank' has to have - in theory - ten percent of the money it lends in actual concrete assets. The rest it produces out of thin air. That £100k mortgage has £10K in the vaults and the other £90K is 'created' when you borrow it.
Merchant banks - gambling on the international unregulated global casino aka 'the stock markets' - have no such restriction. They used to but then it was decided that was a bad idea. Result was the financial crash in 2008.
Google 'fiat currency' and 'fractional reserve banking.'
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.
Wealth and worth should include assets. Of course there are regional factors to consider, to a fisherman in the east Pacific the cost of a car here is a lifetime's money.
It is impossible for anything digital to sound analogue, because it isn't analogue!
Going on Martin's earlier posted figures, I can't see many people wanting to 'redistribute the wealth', not until they've satisfied themselves that they won't personally be any worse off. Fred Bloggs next door is told that he must give up his £200,000 house and move into a £100,000 flat in order to distribute the wealth fairly. Fred didn't see that coming, and wishes he hadn't voted for it.
I have five Chunky Kit Kats in the fridge, would I have to hand any of them over? I need them for my butty box next week, and I'd hate to think of them going to some no-mark who isn't even working
I just dropped in, to see what condition my condition was in
T/T: Inspire Monarch, X200 tonearm, Ortofon Quintet Blue. Phono: Project Tube Box CD: Marantz CD6006 (UK Edition); Amp: Musical Fidelity A5 Integrated.
Speakers: Zu Omen Def, REL T9i subwoofer. Cables: Atlas Equator interconnects, Atlas Hyper 3.0 speaker cables
T'other system:
Echo Dot, Amptastic Mini One,Arcam A75 integrated, Celestion 5's, BK XLS-200 DF
A/V:
LG 55" OLED, Panasonic Blu Ray, Sony a/v amp, MA Radius speakers, REL Storm sub
Forget the past, it's gone. And don't worry about the future, it doesn't exist. There is only NOW.
KICKSTARTER: ENABLING SCAMMERS SINCE 2009
Location: Suffolk
Posts: 1,998
I'm guy.
My wife is right (as always), I found myself switching off and thinking about ham sandwiches (with English mustard) when I got as far as "flat currency" and "fractional reserve banking"
LP12, Ittok (black), DV10X5, NVA Phono 2 (twin supply), NVAP50, Art Audio Quintet 15w power amp, NVA LS5 cable, Rega Ela mk1's.
Sony CDP XB930.
Location: Suffolk
Posts: 1,998
I'm guy.