LIQUIDATION CONTAGIONWealth taxes are even worse than you think. Any asset held by Californian billionaires or Dutch citizens is now at risk of experiencing forced liquidation pressure.So: it’s not just that you don’t want to hold assets as a Dutchman. You also don’t want a Dutchman to hold your assets. Because the logic of forced liquidation is contagion.Let’s think it through.(1) First, suppose there is an asset with a total market cap of $10,000, with 10 shares total, of which 1 share each is held by 10 ...

What is your take on wealth taxes in the US. Because that's a manifestation of this issue. It >> it's a manifestation of the issue, but it's also very important.How do bubbles burst. Okay, bubbles burst. There's a difference between wealth and money.You can easily make wealth. Wealth is like um I raise $50 million with a billion dollar valuation on on a stock. It's only 50 million comes up, but I'm a billionaire.And then that's a billion dollars in wealth. Now, you know what pops bubbles. What pops bubbles ...

A dozen OECD countries had wealth taxes in 1990, but over time the approach has fallen out of favour. Put simply, politicians abandoned them because they didn’t work https://t.co/7vUBjs33PYIllustration: Álvaro Bernis https://t.co/qMMknStnCK ...