Black Money Business Jobs : Substantive Wealth vs. Virtual Wealth

Discussion in 'Black Money Business Jobs' started by Shikamaru, Aug 9, 2011.

  1. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    I think we sometimes confuse virtual wealth for substantive wealth.

    What is substantive wealth? Substantive wealth is real wealth composed of real resources i.e. food, land, shelter, gold, silver, copper, tools, fuel, weapons, seeds, energy, technology, plants, water, medicine, etc.

    Substantive wealth is measured in weight i.e. ounces, pounds, etc.

    What is virtual wealth? Virtual wealth is wealth composed in papers i.e Federal Reserve Notes (FRNs), stocks, bonds, mutual funds, contracts, insurance, credit, etc.

    Virtual wealth is measured in FRNs or value.
    Value is pie in the sky.

    Substantive wealth works in nature and the real world.
    Virtual wealth works in societies, markets, or systems.
     
  2. Knowledge Seed

    Knowledge Seed Well-Known Member MEMBER

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    Substantive wealth is usually acquired through virtual wealth. For example, Ted Turner owns 2.1 million acres of land (substantive wealth). But he doesn't own it directly. He owns that land through stock(virtual wealth) in his company Turner Enterprises.
     
  3. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    This is true.
    Substantive wealth can also be produced by labor as well.

    The example you gave is more indicative of law as to who holds what interest in a given res (Latin meaning thing).
    In the example you provided, the land (asset) is held in a trust corpus or body corporate for use by the corporation.
    Interests in the land include shareholders, government, bondholders, and other creditors. The property would satisfy the claims of the interests of all parties involved in the event of a liquidation. The assets are security.
     
  4. Knowledge Seed

    Knowledge Seed Well-Known Member MEMBER

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    I've never considered labor to be any form of wealth. If it were a form of wealth, everybody with a job would be wealthy, right?
     
  5. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Labor is property.

    It is the fruits of one's labor that can produce substantive wealth.

    If you will note history, most people did not own their own labor or its fruits.

    History, for a large part, has been about the theft of other peoples' labor.
     
  6. Knowledge Seed

    Knowledge Seed Well-Known Member MEMBER

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    I wouldn't call it theft. Slavery was theft. But in an environment were labor is compensated for - whether it be through wages and/or benefits or some other compensation method - it is not theft. It is a voluntary exchange.
     
  7. Mikha'el

    Mikha'el Well-Known Member MEMBER

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    This.

    95% of american infrastructure is built on the control of this resource. the rest control their own labor n use it to develop things (businesses, Talents, etc)
     
  8. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    If you peacefully reside on some land for generations and invaders come in to take your resources, people, and yourself; what would you call that?

    I call it theft.

    I stand on the premise that history has been in large part about the theft of other peoples' labor (and their resources).

    The Indo-Europeans invaded, colonized, and enslaved the native Dravidians in India thousands of years ago.
    Greeks built their city states on war, colonization, and slavery.
    Rome expanded its empire on war, colonization, and slavery.
    England established its monarchy on invasion, war and serfdom.
    France established its monarchy on invasion, war and serfdom.
    The United States established itself on colonization, slavery, and invasion.
    The Spanish empire established itself on colonization, slavery, and war
    The British empire grew itself on colonization, slavery, and war.

    I can't find one nation, civilization, or empire in 6000 years or recorded history that wasn't built on theft. The political structure (government) is then setup up to hold the ill gotten gains for the victors.

    Furthermore, being compensated in a depreciating medium of exchange is another form of theft. Theft of purchasing power. Its a stealth/hidden tax.
     
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