Great thread, Greybeard.
Here is my brief opinion.
What we possess, what we rule over is a manifestation of our ego.
(We can discuss what is possession or control in all levels -from sex to political systems...)
An individual can establish control over his/her ego...but!..but...a person without ego in this System (that is cultivating exactly the ego) is completely vulnerable in all elements of life. There must be no reason for fear to initiate the ego manifestations. The opposite of fear, as you all know, is Love. Every time we are coming to this point.
Because of that, I believe that the real way to transcend the ego is this to be done planetary, universally...prevailing the fears of/for ALL, which means nobody to be a danger for anybody.
Love&Respect
I am posting also this video with Osho`s words about his way of liberating from ego. The quality of sound is low, but i hope you will understand what the master is saying.