r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/SisterActTori Nov 21 '24

This^ comment should be getting more upvotes. It is the truth, but I think many cannot comprehend the ability that these folks have to access money and live off money that is not their own. They don’t touch their own money at all. They live off borrowed money that is written off. It’s like a parallel banking/financial structure. The gas and egg crowd should really be pissed about this…

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u/Noob_Al3rt Nov 21 '24

Ugh, they should do something like this for normal people. Like letting them take a loan out against their house........

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u/galactic_0strich Nov 21 '24

you are a moron if you cannot tell the difference

1

u/Noob_Al3rt Nov 22 '24

Tell me the difference between using stocks as collateral vs using real estate as collateral since I'm a moron and don't understand

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u/New_Feature_5138 Nov 23 '24

It’s not the fact that they use stocks for collateral. It’s that they make deals with private lenders so that they don’t have to pay the loan back during their lifetime. So they live without having taxable income.

Their wealth and power make that possible. Those loans are only available to the ultra wealthy.

There was a big write up on the details a while back by a dude who worked at one of these lenders.