
Originally Posted by
pritch
Trump defaulted on a loan to Deutchbank. He then sued them. After all that, and rather surprisingly, he went back to Deutchbank for another loan. Deutchbank required guarantors of course, and it is believed that there were one or more Russian oligarchs guaranteed the new loan.
Trump used to call himself "the king of debt" but eventually he had burned through his inheritance and was broke. He then started buying up golf courses and resorts - paying cash. Eric Trump is on record saying that the Trump Organisation could get all of the money it needed from Russia. There is one obvious explanation for this... t.
All of the successful entrepreneurs out there in business utilise debt for success. No one has cash sitting around can of thevmagnitude required to roll high level projects. Cash is a liability for them it could disappear in an instant due to bank failure from other people’s debt s lol
Debt is a powerful tool that we are taught to be afraid of using. People like trump use their negotiation skills to get debt to create assetts. A real asset is something that creates income with very little further effort once created.
However there are plenty of external factors that can interrupt cashflow to service the debt and it all falls over.
Our own govts are masters at using debt to build our vital infrastructures and servicing that debt via our taxes. So in effect we are all operating just like Trump did.....
At least Trump had a few hotels for his efforts where as our debt often just produces a new woke pc govt dept hell bent on making life difficult
Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket - Eric Hoffer
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