Posts Tagged ‘assets’

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Donald Trump: Cryptocurrency – Not

Posted by admin on Monday, July 15, 2019

Donald Trump Money Quote saying in a series of tweets that he doesn’t believe in cryptocurrency – from Bitcoin to Facebook Libra – panning all. Donald Trump said:
 
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity Quote

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity” — Donald Trump

 

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Donald Trump criticized cryptocurrencies like Bitcoin in a series of tweets in July 2019. He said he was “not a fan” of cryptocurrencies because their value is highly volatile and based on thin air, not backed by any physical assets. He also expressed concern that unregulated cryptocurrencies could facilitate unlawful behavior like drug trafficking. For Facebook’s planned Libra cryptocurrency, Trump said companies wanting to become banks need to apply for a proper banking charter and be subject to banking regulations.

 

Facebook Libra’s 'virtual currency' will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks Quote
 

“Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks” — Donald J. Trump

 

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Specifically regarding Facebook’s Libra cryptocurrency, Trump said that if Facebook wants to become a bank, it must “seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks.” He emphasized that the only real currency in the USA is the U.S. dollar.

 

We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar! Quote
 

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” — Donald Trump

 

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criticizing cryptocurrencies like Bitcoin and Facebook’s proposed Libra. When Trump said cryptocurrencies are “not money” and have values based on “thin air”, he was contrasting them with the dollar, which he described as “dependable and reliable”. Since the dollar is backed by and exchangeable for the credit of the U.S. government, Trump views it as a more stable store of value compared to cryptocurrencies whose values can fluctuate wildly. By stressing that the dollar “will always stay” the dominant global currency, Trump was essentially dismissing cryptocurrencies as viable alternatives to government-backed fiat money.

Michael Cohen: Inflated Assets

Posted by admin on Wednesday, February 27, 2019

Michael Cohen Money Quote saying during his congressional testimony on February 27 that President Trump claimed greater wealth when it suited his purpose and lesser wealth when it saved him on taxes. Michael Cohen said:
 
Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes Quote
 

“Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes” — Michael Cohen

 

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In this quote, Michael Cohen is accusing Donald Trump of strategically and deliberately misrepresenting his true net worth and assets depending on the situation. Some key points:

  • Cohen states that Trump would inflate or exaggerate the total value of his assets/wealth when it served a purpose like trying to be ranked on the Forbes list of richest people.
  • However, Cohen claims that in other cases like when paying real estate taxes, Trump would do the opposite and downplay the value of his assets/net worth to reduce his tax liability.
  • In essence, Cohen is asserting that Trump was not honest and would adjust his estimates of his wealth higher or lower based on whether overstating or understating values was more personally advantageous at that particular time.

So in summary, Cohen accuses Trump of being purposely deceptive and flexible with the truth about his financial situation and worth depending on what provided maximum benefit in each scenario, rather than providing accurate assessments consistently.

Warren Buffett: Trump Terrific at Borrowing

Posted by admin on Sunday, July 1, 2018

Warren Buffett Money Quote saying Donald Trump is more interested in ostentatious display than equity and fairness in real estate and got overextended. Warren Buffett said:
 
 
Trump Overpaid for Properties, got people to lend money, never any real Equity  Quote
 

“Where did Donald Trump go wrong? The big problem with Donald Trump was he never went right. He basically overpaid for properties, but he got people to lend him the money. He was terrific at borrowing money. If you look at his assets, and what he paid for them, and what he borrowed to get them, there was never any real equity there” — Warren Buffett

 

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In this quote, Warren Buffett is criticizing Donald Trump’s past business practices related to borrowing money. Buffett says that Trump became too focused on how much money he could borrow from lenders, without properly considering whether he would be able to repay what he owed.

According to Buffett, this over-reliance on borrowed funds, or “leverage,” ultimately led to some of Trump’s business failures. Overall, Buffett is warning about the risks of taking on too much debt without having a clear plan for how to service and repay that debt over time.

Miya Yamanouchi: Financial Assets Flashing

Posted by admin on Saturday, May 26, 2018

Miya Yamanouchi Money Quote saying men strutting their finances and possessions should not impress a woman on her own path to wealth. Miya Yamanouchi said:
 
Guys show off to a girl by boasting of their financial assets and flashing cash - show me integrity not money Quote
 

“So many guys try to show off to a girl by boasting of their financial assets and flashing their cash around etc, but a girl who makes her own money and is building her own empire is not impressed by such things. – Show me the integrity not the money” — Miya Yamanouchi

 

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This quote from Miya Yamanouchi suggests that for a woman who is ambitious and independently successful in her own career and financial endeavors, superficial displays of wealth or money from men do not impress or attract in the way they believe.

Rather than boasting about financial assets or flashing cash, she advises men to instead demonstrate high character traits like “integrity.”

The quote implies that a woman focused on building her own empire through hard work and ability values inner qualities over outward signs of riches. It promotes showing one’s true self through principled actions and behavior, not through money or possessions, to earn genuine respect and interest from capable, self-sufficient women.

Toni Fan: Data Deposit & Transfer

Posted by admin on Friday, September 8, 2017

Toni Fan Money Quote saying it’s routine to move money from one bank to another, but we cannot so easily move our data. Toni Fan said:
 
It’s easy enough to deposit assets, in the form of money, in one bank and withdraw it from another. But it’s far more difficult, if not downright impossible, to transfer personal data Quote
 

“It’s easy enough to deposit assets, in the form of money, in one bank and withdraw it from another. But it’s far more difficult, if not downright impossible, to transfer personal data” — Toni Fan

 

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In this quote, Toni Fan is drawing a comparison between how easily money can be transferred between banks digitally, versus how challenging it is to transfer personal data between organizations in the same seamless way.

The best interpretation is that Fan recognizes it is simple for financial institutions to move assets like money around electronically as needed, but personal data, which is also increasingly digital, faces many more obstacles to being easily portable or “withdrawn” from one source and deposited with another.

Fan sees data as harder to transfer between entities if individuals want control over their information and choice in where it resides. The overall message is that while money is fluid in the digital world, personal data lacks the same liquidity and mobility due to technical and policy limitations.

Sheri Dillon: Government Diversified Portfolio

Posted by admin on Wednesday, January 11, 2017

Sheri Dillon Money Quote saying as Trump conflict of interest attorney that he’ll hold a diversified portfolio that meets guidelines from the Office of Government Ethics. Sheri Dillon said:
 
hold liquid assets: cash, cash equivalents, and treasuries and perhaps some positions in a government approved diversified portfolio, one that is consistent with the regulations from the Office of Government Ethics Quote
 

“The President-elect has also already disposed of all of his investments in publicly traded or easily liquidated investments. As a result, the trust will have two types of assets. First, it will hold liquid assets: cash, cash equivalents, and treasuries and perhaps some positions in a government approved diversified portfolio, one that is consistent with the regulations from the Office of Government Ethics” — Sheri Dillon

 

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This quote from Sheri Dillon seems to be explaining the structure and assets of the trust that Donald Trump established to hold his business assets during his presidency. A few key points:

  1. Trump had already disposed of all his publicly traded stock investments and easily liquidated holdings prior to taking office, suggesting an effort to reduce conflicts of interest.
  2. The trust will contain two types of assets – liquid assets like cash, treasuries and some diversified low-risk investments approved by the Office of Government Ethics.
  3. This is intended to remove Trump’s control and involvement in his original business holdings while president, while still providing a return on those assets through the trust structure.

Overall, Dillon appears to be outlining how the trust was set up to manage Trump’s business interests in a way aimed at reducing perceived conflicts and adhering to ethics guidelines, while still generating returns from his original investments.

Warren Buffett: Wells Fargo Customer Base

Posted by admin on Friday, September 30, 2016

Warren Buffett Money Quote saying the Wells Fargo customer base was growing steadily – however growth was due to fraud – making it much harder for Wells Fargo to make money on new customer growth. Warren Buffett said:
 
What you make money off of is customers. And you make money on customers by having a helluva spread on assets and not doing anything really dumb. And that's what they do Quote
 

“Wells Fargo … you can’t take away Wells’ customer base. It grows quarter by quarter. And what you make money off of is customers. And you make money on customers by having a helluva spread on assets and not doing anything really dumb. And that’s what they do” — Warren Buffett

 

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Warren Buffett is praising Wells Fargo’s large and steadily growing customer base. He notes that banks primarily make money from their customers through interest earned on loans and fees. Specifically, Wells Fargo earns money from its “spread” – the difference between the interest it pays depositors and the higher interest it charges for loans.

As long as Wells Fargo lends responsibly and avoids risky or fraudulent behavior (“doing anything really dumb”), its large customer base will continue generating steady profits from this spread on assets like mortgages and credit cards. Overall, Buffett sees Wells Fargo’s expanding customer base as a key strength of the bank’s business model.

C.K. Wilde: Art World a Last Great Cartel

Posted by admin on Friday, September 23, 2016

C.K. Wilde Money Quote saying artists work speaks to injustice and inequality are supported by wealthy art collectors that may be avoiding taxes and seeking to be influential. C.K. Wilde said:
 
I am involved in one of the last great cartels, the art world. A place for the wealthy to “hide” their assets, to dodge taxes, and to celebrate their influence Quote
 

“I am involved in one of the last great cartels, the art world. A place for the wealthy to “hide” their assets, to dodge taxes, and to celebrate their influence” — C.K. Wilde

 

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This quote from C.K. Wilde suggests that the art world functions partly as a means for wealthy individuals to obscure or launder assets for tax purposes while also publicly displaying their status and connections.

The best interpretation is that Wilde sees the art market as effectively operating like an unregulated “cartel” through which the rich can covertly move and store significant funds in high-value artworks to potentially avoid taxes on luxury purchases or investments.

Additionally, acquiring famous pieces allows the elite to flaunt cultural capital and socialize within exclusive art circles. So in essence, the quote portrays the art scene in a cynical light as providing avenues for the affluent to subtly wield economic power and influence beyond just appreciation of aesthetics according to Wilde’s view.

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