It is "horded" in that it is wealth that does not circulate within the local or regional economy and has no loyalty to these communities it is extracted from. It is a social and regional version of a trade deficit. This isolation prevents others from accessing social mobility and opportunity through the exploitations of foreign regions and people. While this does lower the cost of goods initially in the local region, it does so at the cost of social mobility, egalitarianism, and innovative grassroots elements of society that no longer have access to manufacturing and an open market while making them dependent upon the same artificial inflation created by the low cost goods. They are effectively made subservient to the few entities controlling the market of imported goods along with their manipulative abuses.

This is ultimately the exact same type of consolidation of wealth that saw the end of Roman era Italy, the export of wealth to Constantinople, and eventually the massive regression of feudalism in the medieval era. Democracy requires autonomy and a far more egalitarian society. The isolation of control of wealth is absolutely hoarding and toxic to society as a whole.