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Author Topic: 2,300 billionaires, each holding $600m of cash on average  (Read 3243 times)
snappa4ever
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September 25, 2014, 12:19:37 AM
 #21

Hoarding cash is pretty stupid in my opinion, it can be hyperinflated very quickly...
seems the average $600m is just amount for few month of expences for the billionaires instead Smiley
Hyperinflation is actually pretty rare. Even more so in the industrialized world. With the exception of the last 5ish years interest earned on bank deposits would earn all of, if not more then the amount "lost" from inflation.

Billionaires are hoarding cash because there are not investments that carry an appropriate level of risk and expected return.

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marcus_of_augustus
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September 25, 2014, 12:46:12 AM
 #22

Hoarding cash is pretty stupid in my opinion, it can be hyperinflated very quickly...
seems the average $600m is just amount for few month of expences for the billionaires instead Smiley
Hyperinflation is actually pretty rare. Even more so in the industrialized world. With the exception of the last 5ish years interest earned on bank deposits would earn all of, if not more then the amount "lost" from inflation.

Billionaires are hoarding cash because there are not investments that carry an appropriate level of risk and expected return.

... as you can clearly see fiat money is a huge CONfidence game.

If a certain 0.000033 % decided over a short period that US dollar "cash" holdings would be devaluing, then they would ... drastically. As it is right now those holdings are losing value due to negative real interest rates. The US Federal Reserve Dollar has become the biggest Ponzi scheme the world has ever known and in the process gutted the real, productive economy.

Adamcheek
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September 25, 2014, 06:04:13 AM
 #23

Wow that sure is impressive... damn I wish I could have that.

Then I could stop gambling for a few bucks everyday
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September 25, 2014, 06:41:20 AM
 #24

Be great if some of this money started flowing into Bitcoin

Been questioning myself for a long time now, why it's not happening already. It's too illogic.

Bitshares - advanced decentralized exchange and asset platform.
V8x8d
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September 25, 2014, 09:35:26 AM
 #25

One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.

Well, ask yourself: Are these super powerful, rich people at top moving millions going to simply sit back and relax as their super fortunes vanish? Not in a million years. USD will not fail unless these guys want to imo, because they control everything.
They are not going to allow for big Bitcoin holders to be the new elite, they'll do something about it. I don't know what, but something.

Oh and becoming a millonaire, let alone a billonaire, depends on so many factors that it's mostly luck.

Unless you are a member of the Bank of International Settlements, you know nothing.

http://redefininggod.com/2014/09/mainstream-globalist-propaganda-reveals-eastwest-conflict-is-a-farce/

Thanks for posting that great article, now I just need to go and vomit..

I find it disgusting that they are stealing our Gold. It's no wonder the FED and BOE won't audit their gold reserves. The shock will be that the West has no Gold.

When official unemployment figures are less that 6.5% and the official inflation rate is above 2% for consecutive months get out of Western Fiat currency and into hard assets (plus Bitcoin), as interest rates hikes will plunge us into the abyss.
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September 25, 2014, 12:25:26 PM
 #26

Saw this article a couple days ago...survival of the fittest.
Read more. http://www.democracyjournal.org/16/6740.php?page=all

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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September 25, 2014, 12:47:21 PM
 #27

Great fortunes are made through concentrated risk, they are kept through diversification
On that basis alone, I doubt too many of them will do much more than maybe dabble

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September 25, 2014, 12:49:27 PM
 #28

Be great if some of this money started flowing into Bitcoin




http://rt.com/business/190100-billionaires-hoarding-millions-cash/




If this happens the sky is the limit lol.

CryptoCarmen
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September 25, 2014, 12:59:50 PM
 #29

If you were given 1 dollar for every second since the day you were born, you would be a millionaire by 10days old.

At this same rate, you wouldn't become a billionaire until you are 31 yrs old….


a billion is an insane amount of money, and no one should have that amount before the whole world has enough food and necessities.

a million is not all that much, i mean it's nice to have, but it's not as much as you'd think.

many people in a western society will actually earn a million or more throughout their lives, but most of it will be eaten away by taxes and also housing and food etc.

billionaires should be prohibited by law and all put in prisons for life time.
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September 25, 2014, 01:38:05 PM
 #30

If only I could become a billionaire...

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September 25, 2014, 03:51:04 PM
 #31



billionaires should be prohibited by law and all put in prisons for life time.

Unless they're us ,right? Roll Eyes
malexls
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September 25, 2014, 04:24:57 PM
 #32

$600m  Shocked Huh

where and how
CryptoCarmen
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September 25, 2014, 08:44:48 PM
 #33



billionaires should be prohibited by law and all put in prisons for life time.

Unless they're us ,right? Roll Eyes

no excuses. I would gladly be billionaire and be imprisoned. since would buy my way out anyway.
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September 25, 2014, 09:07:08 PM
 #34

I'm sure some may invest in bitcoin, but what would be the point? They've already got enough money or more than they could ever need.

well ... no.
I don't want that my bank freeze my account for a ball-in ... that it legal in my country since december 2013.

bitcoin is as fast as paypal, now to withdrawn with services like this : https://www.coinhouse.io/faq (pay in bitcoin, receive a virtual number in credit card to pay = 6% of fee)
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September 26, 2014, 01:28:00 AM
 #35

I'm sure there are a few trillionares as well, but they would be of the record









“It's easier to fool people than to convince them that they have been fooled.” Mark Twain
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September 26, 2014, 08:40:04 AM
 #36



billionaires should be prohibited by law and all put in prisons for life time.

Unless they're us ,right? Roll Eyes

no excuses. I would gladly be billionaire and be imprisoned. since would buy my way out anyway.

So basically , the price of  being highly successful at what you do( even if it's legal) is imprisonment and you're okay with that.And in order to get released they must surrender a portion of their wealth to the government (beats taxing everyone ,I suppose).Seems legit.

I'm totally with you  . A government that blindly jails  innocent just for being amazing at making money does seems very utopian to me too.
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September 26, 2014, 09:32:53 AM
 #37

Hopefully for them they hoarding the cash and not just number in bank account. When it goes wrong they can at least use the paper to generate heat in winter days. But hopefully it can last few more generations, I have some cash as well  Cheesy
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September 26, 2014, 12:24:59 PM
 #38

Switzerland have way to many billionaires.
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September 26, 2014, 01:04:12 PM
 #39

Switzerland have way to many billionaires.
It's ridiculous and really fishy how that small land has gathered so much money, I dont believe for a second there isn't something else going on.



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fryarminer
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September 27, 2014, 04:39:46 AM
 #40

It must be a mental disorder to have that much money. Seriously, and I don't mean it offensively. The level of obsession has definitely got to be passed after a certain point, where you have more money than you could possibly spend in your lifetime, and yet you still continue to hoard as if you do not have enough.

Where is the joy or pleasure in that? It is an obsession - a disorder.
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