Message from @Green Syndicalism
Discord ID: 638378523249213459
there are at least 20 socially owned banks
socially owned can be in a gazillion forms, is a joint stock company considered 'socially owned'?
or a credit union
now in this system, you can have a stock market for the trade of securities between socially owned banks
if individuals can have property rights in stock, i think thats' the dividing line
socially owned as in, the people of that region have equal, or near equal, levels of shares in it
and they cannot sell the shares
it's not a technical argument, it's arbitrary but i think it represents a big difference since having property rights in stock versus not being able to have them is a big deal
but this is literally a socialist system which has a stock market
so....
youre wrong
that's not really a stock market
that's a socialist govenrment pretending to have a stock market
how the fuck isnt a market of securities being openly traded by all banks not a "market of stocks"
its not a socialist govt
holy shit
these banks arent owned by the government
you said "they cannot sell the shares"
yes?
that's a big deal
and its not govt owned shares
the banks arent government owned
theyre socially owned
whatever the arrangement is, if they can sell and 'dump it' they aren't really participating in a stock market
if they cant
and i said the people cant sell the shares they have of THEIR BANK
the shares of the stocks CAN BE SOLD
by the banks in question
that's what im talking about, in this case the bank is just a holding company, you can buy stock now in companies that also own stock
nothing unusual there
if you can't dump it, it's not a real stock market
but the stocks can be dumped
so
the stock market exists
the reason for this is fairly deep, it involves the psychology of being a real market participant versus being some sort of 'play actor' in a market
theres literally nothing stopping a stock going to 0 on this stock market
the idea of 'playing market' is old, it has some merit in some areas but for the purposes of DIVIDING between socialism and capitalism, it is on the other side
nice evadin the point
going to 0 is one thing. dumping your shares to get out is another
that's not evasion