Google’s parent company, Alphabet, hit a new milestone on Friday: a $2 trillion market cap.
Google is now the world’s fourth most valuable public company, right behind Nvidia, Apple, and Microsoft, which has a market cap of just over $3 trillion and overtook Apple earlier this year for first place.
So you think we should only use a goods-based bartering economy?
No, but a derivatives market that is apparently worth more than the world’s GDP times 100 really doesn’t make sense.
There is nuance between abolishing money and having Wall Street own every major company and selling parts of each many times over.
The first trillion sheep company
Why are you trying to reason with a person that says nonsensical things like that? You’re wasting your time and effort. It’s ok to just downvote and move on.
There may not be any hope of changing his mind. But pointing out the ridiculousness of their comment can potentially make the difference to other people who may not have the same knowledge, or haven’t thought it through.
At least something real would be better in my POV TBH…
I make wool.
You make bricks.
I need your bricks, but you don’t need wool.
How do i buy your bricks?
I’m not talking about the concept and use of money(which it’s supposed to be backed in something real) I’m talking about the electronic system of money, which are just an unreal electronic bunch of numbers backed up in nothing, maybe if the countries economies return to be backed at least in something real it would be better for the world’s economy.
Edit: to give you a practical example, do you think if you add up the money that supposedly exists in all the banks worldwide, is there something physically real that represents that value? Or what is the same, could you buy everything that exists and still have money left over?
The actual problem it’s modern economy it’s backed in nothing else than zeros into an electronic economic system, so it will only benefit to the most wealthy 1%.
If you’re talking about a gold standard, no. It resulted in huge economic instability.
https://www.moneyandbanking.com/commentary/2016/12/14/why-a-gold-standard-is-a-very-bad-idea
If you’re talking about an oil standard, fuck no. For obvious reasons.
If you’re talking about some other standard that wouldn’t have the gold standard problems? What would it be?
Simple. You trade wool for a club, then use the club to take the bricks. Finally, use the club to take back your wool. Perfect economic system!