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Emeritus Prof Christopher May

4 Wochen her •

Emeritus Prof Christopher May
4 Wochen her •

Here's @davidallengreen making the crucial point that when Billionaires start saying Court orders can be ignored they are cutting away at the basis of their own wealth.... billionaires depend (for the most part) on the rule of law to maintain their wealth... without its just so much paper & possession (with no firm property rights attached)

So, without comprehensive legal compliance these billionaires suddenly starting looking vulnerable....

#RuleOfLaw #billionnaires

https://emptycity.substack.com/p/the-paradox-of-the-billionaires-saying

The paradox of the Billionaires saying that Court Orders have no value, for without Court Orders there could not be Billionaires

Those saying that Orders of the Court can be freely defied should be careful what they wish for

^{d. a. t. green (The Empty City - a law and polity blog)}

MiniMia 🏴󠁧󠁢󠁷󠁬󠁳󠁿 🇵🇸 4 Wochen her •

Without the rule of law, such as it is, most of it is just numbers on a screen.

Emeritus Prof Christopher May 4 Wochen her •

Exactly.... except their barricaded mansions, of course

MiniMia 🏴󠁧󠁢󠁷󠁬󠁳󠁿 🇵🇸 4 Wochen her •

Ah, yes, but did they *actually* pay real money for them? Do people that rich actually pay for anything really? Look what happens when there's a panic and huge numbers of people try to get their money from the bank at the same time, like happened in Cyprus, was it, a few years ago? The whole system is like Tinkerbell - if even a small portion of the global population collectively stopped clapping, it would fall to bits.

Emeritus Prof Christopher May 4 Wochen her •

True, I guess one would need to assess the proportion of billionaires' wealth held in 'investments' and in physical assets - which the latter they would (in the absence of property rights) be depending on defensible possession (so private armies, or state sanction protection, required)