The world is awash in claims on productivity, some of which are more plausible than others, but which sum to a ridiculous figure that has no basis in physical or social reality.

As Chris keeps saying - more or less - capital is not a substance, or even a number. Its value derives entirely from its ability to claim the productivity of others, and/or to monopolise resources.

If the productivity or resources don't exist, the book value is meaningless.