What caused such "dangerous" income inequality?

Look...as I am only a multitude of HOURS away from leaving for the Middle East with my Team I have no desire to argue with you so rather I would like to simply explain how I know a few things you don't.

Everything I have been talking about is specific to illegal activities that have and are still going on and are crimes just about IMPOSSIBLE to prove or prosecute those who commit them.

For those of us who are extremely wealthy...and extremely wealthy means having at least money and assets in excess of $100 Million.....FILTHY RICH....means having money and assets over $500 Million....CRIMINAL RICH SOB means having assets of over $1 Billion.

Anyways....for multiple decades now Corporations that offer Stocks to the general public have come to understand that although the Extremely Wealthy might own large numbers of shares....getting SEVERAL WELL KNOWN CELEBRITIES....to become owners of stock in your company is equivalent to spending Millions upon Millions in ad campaigns to advertise your company.

This was taken a step further and Bernie Madoff developed it into an ART FORM as although almost impossible to prove and even harder to prosecute....several WELL KNOWN CELEBRITIES who were PAID to advocate Madoff were able to fool hundreds of other Extremely Wealthy Celebrities into using Madoff as well.

Kevin Bacon was one of those Celebrities talked into going with Madoff and he lost everything.

Now...is there ANYTHING I have posted here you disagree with?

AboveAlpha

 

Which are? You have yet to name them, or even prove that they are occurring...

Maybe in that empty space you call a head, but the rest of us do not classify wealthy individuals in such a fashion. Rich is defined as anyone with a net worth exceeding $1 million dollars. The threshold is usually from $1 - $5 million dollars, and anyone who passes that threshold is considered a Very HNWI. Anything $50 million and over is considered a Ultra HNWI individual.

Look it up. I seriously thought you were informed /Sarcasm

Are you saying this because you believe this to be true or are you saying this because you believe there is no way of proving you wrong?

You do realise that the SEC keeps records of all major shareholders in a company, correct? This is also available to the public, along with the insider transactions of executives.

There were plenty of celebrities who were victims of Madoff. This is because Madoff targeted wealthy people.

The Madoff incident doesn't support anything you are trying to say. Not in the slightest.

A better question should be, 'is there anything you have posted that is considered credible and/or valid...'

 

OK....I see you are more interested in nit picking terminology than discussing the issue...the issue being how massive impropriety is still occurring on Wall Street.

You instead are more interested in arguing about what words should be used to describe various degrees of wealth. LOL!!!

Look...I am NOT a Stock Broker however I am extremely wealthy and I have been offered certain....deals...which I have refused which were WITHOUT A DOUBT...illegal.

It is true I cannot 100% with certainty PROVE those specific Celebrities on the Bad Boy and Girl List did anything illegal...but then again neither can prosecutors and that is because the local Community College Educated Prosecutors cannot possibly match up or out think the Harvard Graduates setting these illegal activities up.

And just because the SEC has lists and records doesn't mean those on those lists are the one's who's money was used to purchase Stocks.

Perhaps one day when you are a bit more mature and a bit more well educated to how thing REALLY WORK...we might be able to actually have a pleasant discussion....but for now....you are in the dark...with no Moon...no Stars...and no flashlight....and no CLUE.

AboveAlpha

 

The terminology shows that you have an understanding of the issue and can discuss it.

But then again, one of us works in the mailroom. I forget whom.

You're the one who brought it up. I merely corrected you (again).

I do believe that you are extremely wealthy. Plenty of those types hang around here. This probably makes you the seventh one I have encountered while I was here. With all this money you half, you have enough time to average 26 post a day on here. Must be awesome being wealthy...

Yeah. That's what the government does. They send half baked community college graduates up against Ivy League evildoers...

What colour is the sky in your world? I would really like to know...

Whether or not it was their money is irrelevant. You can purchase stocks on margins. As long as you are the one who physically (or electronically in this case) purchased the stock, the certificate is in your name.

You're the one who wants to ignore terminologies and I'm the uneducated one? LMAO!

Maybe you should put more of your words in caps. I'm sure someone will take you seriously then...

 

Really?

Really?

LOL!!

If you would not mind...and I promise not to say anything derogatory....what College or University did you go to and what degree did you obtain and in what field?

AboveAlpha

 

You know, when you realize that all money is imaginary money, you come to realize that income inequality is a load of crap.

Money is imaginary because it is fiat money. that means it is not valuable in any way except for the value we infer.

And I'm not so sure that money isn't imaginary even if it is backed by some sort of precious metal or mineral either.

 

Nothing wrong with ripping someone off so long as they give their consent. For instance, I might sell you this can of beans for $200 when you can buy the same thing for $0.50 down the road. So long as we both agree and a transaction occurs, that I ripped you off is irrelevant.

So yeah, there are a lot of dodgy, non-consensual financial deals going on (almost all of them with the backing and encouragement of the government) - those we should abolish. But we should be careful not to restrict voluntary transactions in the process. For instance, I should be able to charge you 20% interest on a loan if I want.

 

That's why I own a lot of Property!! LOL!!

AboveAlpha

 

Not that I'd like to exult about my experience or credentials to complete strangers online, but I received my undergrad degree in Finances at the London School of Business and Finance (LSE) and received my post-grad degree at NYU STERN in Financial Economics.

Not the most prestigious institutions in the world, but I don't see what derogatory can be said about me. I've been doing what I do for 10+ years and I am very good at it...

 

When I was talking about people being ripped off I was referring to Illegal Impropriety not Supply and Demand.

Years ago there was this funny comic strip....I can't seem to remember the name of it...perhaps...Outland?

Anyways....Donald Trump dies and finds himself reincarnated into the body of Bill the Cat....this frizzy house cat character in the comic strip.

Trump say's to himself...OK...I am a freakin' CAT!! Time to begin my climb back to the top!!

Another character walks by sucking on a Tootsie Pop and Trump now a cat asks the character..."Hey! I will give you 50 cents for that half eaten pop."

The guy with the pop say's..."Sure!"

Trump swipes the pop out of his hands and say's...'OK...I will pay you next week!"

Trump then sees another character walking buy and sticks the half eaten pop in the air and say's...'Hey! I got a great deal on Pre-Licked Corinthian Pop's only $5."

The character walking buy say's..."Sure!"...and hands Trump $5....and as Trump walks the other way with 5 Bucks the character he swiped it from first who watched Trump make $5 screams...HEY!!! LOL!!!

AboveAlpha

 

Can't be too careful these days unfortunately

 

And what is it you do specifically if you don't mind me asking?

AboveAlpha

 

I still don't see anything dangerous with income inequality.

There will always be income inequality. I'd rather it be in the private
sector than in the government.

The government has too much money. The private sector doesn't.

 

Everyone is out to make a buck....but unfortunately some are out to steal one...or two...or a Billion! LOL!

AboveAlpha

 

By the way Vix...if you have been to London lately...is that place...The American Sports Bar near the street by the Millennium Wheel still there?

Last time I went to that Bar they had a line down the street as Londoners in summer were flocking for cold beer and 30 big flat screens! LOL!!

Oh...and Tex Mex, Burgers, Ribs and everything a proper London Pub does not have.

AboveAlpha

 

To be honest I have nothing really against you if, like the government, you choose theft over peaceful means of acquiring funds - to each their own - I just have no problem with using your own tactics against you - theft, fraud, lethal force.

Not you, people generally

 

The problems we have are specific to Politician's being paid off to not pass sweeping Market Reforms.

Thus the average family looking to get ahead finds out their 401K's were worthless.

That is something that cannot be allowed to happen.

AboveAlpha

 

What sort of sweeping market reforms?

 

I have mixed thoughts on wealth inequality.

On one hand, the inequality in itself isn't bad or dangerous, I think its simply used to inflame people for political purposes. If a person a the "bottom" is being paid fairly for his ability and production, then why would he complain about another person with more skills and productivity making more? Bill Gates & Steve Jobs changed the world, they made a massive fortune doing it, and they deserve it. Not everyone could do what they did. But everyone can push a broom, its a trivial skill, and not worth much money.

On the other hand, some of these people are so fantastically wealthy that they can single handedly buy political influence and force change on everyone. People like Soros, with 10's of billions to spend, can effectively disenfranchise entire segments of the population. Bill Gates wanted to dictate education standards and processes to the nation, and using his billions he is forcing it on the nation (Common Core) by "contributing" to politicians and paying "incentives" to states and communities that sign up.

Such obscene wealth in a single individual invites corruption.

 

It should be obvious: I'm a stock broker...