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submitted 2 days ago* (last edited 2 days ago) by fireweed@lemmy.world to c/microblogmemes@lemmy.world
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[-] TrackenDaKracken@lemmy.world 18 points 2 days ago

I knew there'd be folks in here claiming it's "fake money." They can liquidate when they want to, it's not "fake."

[-] gravitywell@sh.itjust.works 8 points 2 days ago* (last edited 2 days ago)

Not only is it real money when its invested, typically the rich can just borrow against those shares instead of having to liquidate anything to pay for things.

For example when they need $40b to purchase a website or media corp to use so they can have better control of the narrative, they just get a loan because everyone knows they'll be able to make the payments, instead of selling enough shares to tank the thing that inflates their networth beyond all reason.

[-] boonhet@sopuli.xyz 6 points 2 days ago* (last edited 2 days ago)

They can liquidate part of it. If they liquidate all of it then most will disappear into thin air.

If you're Elon Musk and own a large part of Tesla and SpaceX and you sell all your shares, both companies crater HARD.

Just remove stock from anyone who owns over 1% of any publicly traded company and nationalize all index funds' assets (yes, that includes retirement funds). Problem solved.

Or just cap total wealth at ~5 mill, indexed to the median income so there's no need for legislation like with minimum wage.

[-] surewhynotlem@lemmy.world 3 points 2 days ago

They don't even need to liquidate. They can just take a loan against it like they already do.

this post was submitted on 08 Nov 2026
1808 points (99.1% liked)

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