Trump is broke.

[sellitman]

In this thread, I’m going to post articles I have collected over the past year which I believe constitute circumstantial proof President Donald Trump is using the Presidency to avoid bankruptcy.

Trump is broke.

https://t.co/Nyhc5PSCwr

[ProudMNDemocrat]

1. Doesn't surprise me.

Melania had better start gathering her shit for a Garage Sale.

[Hoyt]

2. Have no doubt, and can't think of a family more deserving.

[House of Roberts]

3. Trump is worse than broke.

Trump owes money to Russian loan sharks at way above market interest rates, and just the vigorish on those loans is more than he's taking in right now. He's sinking deeper and deeper into a black hole he'll never get out of.

[Beartracks]

10. Yes, he's more than broke. He's in debt up to his zhopul. n/t

[Xolodno]

19. Now that...

...made me laugh!


So let me spoil it. He's in debt up to his Ass(hole)

...emphasis is mine.

[Walleye]

4. I've suspected this. He's so willing to funnel our money into his properties

It’s probably why he was so anxious to end the lockdown

[Aristus]

5. I thought we established this ages ago.

Everyone knows he's broke. He's no more a billionaire than I am.

He's floating along on an immense ocean of Russian debt.

He can't pay them back in cash, so he pays them back in American socio-economic and political instability.

[Thekaspervote]

16. +1000

[ProfessorGAC]

26. Same Here, Aristus!

Moody's downgrades the companies credit worthiness because the value of assets were overstated by around 20%.
Then, the downgrade again, 2 years later, because the debt load TO U.S. BANKS was $900+ million higher than previously believed.
Then, we found out about Deutsche Bank loans in 10 figures.
Now, we know around $300 million in loans to China's main bank.
He was living off $ of the charitable (?) foundation.
And we know about Russian loans (thanks to Uday).
The properties weren't worth what was claimed, the debt load is massively higher than reported and "it" was stealing from their own charity.
Sounds like a person with more debt than assets.

[dalton99a]

6. Kick

[Wellstone ruled]

7. Couple others playing in this sand box of debt.

China to the tune of 2 hundred million via Elaine Chao's Family and the Bank of China. UAE via Kushner for several hundred Million. Oh btw,the Saudi Royals for several hundred Million.

To the Creditors,When Trump leaves Office in January,they will be suing his ass for all that Crappy Real Estate. No one wants to own Golf Courses,but,the land will generate Billions with new Residential Housing.

[ProfessorGAC]

27. Nearly $300 Million

Last report I saw was around $290 million.
And, that's just what is now public information.

[marble falls]

8. Please, let him be broke! This is why he keeps changing lawyers! They won't work past the retainer.

[BannonsLiver]

9. I think that's why they have been desperate to sell their lease on his DC hotel

I also think the effort to sell is a sign they/he thinks he’s going to lose in November. If they thought he was going to win they would hold on to it to use it to grift $2,000 a night rooms to the SS and also from
Brown nosing foreign govt officials who stay there on official visits.

[brush]

11. In dept up to his behind with his golf courses and resorts shut down...

and generating no income to pay his creditors—yeah he's broke. Couldn't happen to a more deserving person.

And those Russian oligarchs seem to prefer the plutonium remedy.

[smirkymonkey]

12. Bwahahahaha!

I love the smell of schadenfreude in the morning!

Not only is he most likely broke, he probably has billions of dollars to pay back just to get to zero.

I want him to suffer like the little maggot that he is.

[amuse bouche]

13. Nice

[BigmanPigman]

14. This makes him more dangerous.

He will stop at nothing to win because he HAS TO win...to save his ass from jail and bankruptcy. The time between now and Inauguration Day he and his pals in Russia, the GOP etc will be helping him cheat, lie and steal the votes.

[Rhiannon12866]

15. I've long thought this was the only reason he decided to run - he saw it as a money-making scheme

All of his previous efforts failed, so he was counting on both the attention and the campaign contributions, but he never imagined that he'd "win" or have to do the job...

[Luz]

28. I think the plan was to lose then start his own "news"

network and spend 24/7 attacking hillary. I still think he (or his spawn) will try again when he looses this time.

[Rhiannon12866]

29. Well, he keeps on trying, but hopefully the end of Trump will end his idiotic ambitions

Could things possibly get worse in this country now? Thousands have died, the economy is tanking and our major cities are in an uproar. And we know how his previous "businesses" have turned out. He's managed to fail in everything he's tried despite the start he was given in life. I hesitate to say it can't get worse since so far it inevitably has...

[SleeplessinSoCal]

17. He always defaults. Finds ways to delay, sue, bribe with trumpy favors.

Sleazeball extraordinaire.

[JI7]

18. Isn't this something that everyone pretty much suspects. He owes

far more than he has. Owes a lot to Russia and China especially.

[pink]

20. Dirty Money on Netflix

Season 1 episode 6

Jared Kushner is in season 2

[DFW]

21. He already calls himself the King of Debt. And there is the eternal accountant's question?

If you have assets of $5 billion and debts of $7 billion, what IS your net worth?

What really counts is how long you can keep the $5 billion without having any of the $7 billion debt called in. How does anyone get away with this in the first place? Well, for one thing, no bank wants to ADMIT that the $7 billion (or portion thereof) debt that they list as their own assets doesn't exist. If they call in the loan, and there is nothing to collect, the money disappears from their assets. No bank wants that, so they play along with the fiction that the outstanding loan will one day be repaid, and is therefore still an asset.

It's a big game of chicken. Who admits first that the money isn't there? Certainly not Trump, who doesn't want to be suddenly penniless. Not the bank, whose manager of the Trump loan then not only gets fired but might open himself up to criminal prosecution. Not the bank's stockholders, whose shares will drop in value if billions in stated assets turn out not to be there.

So, the fiction persists.

[A HERETIC I AM]

22. He's a world class money launderer

Think about it;

His two primary lines are hotels and golf, often linked together (The Doral, in Miami, for instance).

Hotels;

This is an interesting sleeve (as I'm sure you are aware, DFW, since you travel so often, as do I. I've been about halfway around the world in my lifetime and have stayed in well over a thousand different hotels.) because there is an oversupply of rooms worldwide, according to some articles I've read, but he tries his best to keep properties with his name on them (note I didn't say HIS properties) on the "upscale" side, meaning in the range of $250/night and above.

Now, in some circles, $250 a night for a room is peanuts, but the vast majority of the traveling public isn't spending nearly that much per night. Those are resort rates for average folks. Vacation spending, in other words.

I did a quick search, and for a 3 day weekend stay 2 weeks from now, rates for his property on Pennsylvania Avenue in DC start at $316

So basically he buys and or licenses his name to overpriced properties around the world, trying to lure people with the "cache" that is Trump. There are indications it is failing, by the way. BIG TIME. Occupancy is WAY down at most of his properties, apparently.

Golf;

Golf is a game that is losing an entire generation. Or two. The demographics for golf have not looked good for quite a while. Its core players in the US are older, white and dying off, and like Skiing, has high equipment costs to get onto and isn't cheap to play, by any stretch. But it appeals to rich folks around the world, so it's a great place to sink money! This is his biggest scam, from what I can discern. He uses golf courses to launder money for offshore interests.

No American bank wants to go big on new golfing enterprises because they lose money, so Trumpy has gotten himself into the position of laundering money for foreign operators, and he uses golf courses to do it.

[DFW]

23. Still, you need to get something out of it to make that worthwhile

Since he doesn't appear to have any real assets of his own, he would have to be laundering money for SOMEONE that has dirty funds they want cleaned into legitimate funds. I have no idea what his cut would be, but I can't imagine it's enough to keep his debts current. Obviously, his tax returns would reveal who his financial playmates are, which is not a cast of characters he wants exposed.

[A HERETIC I AM]

24. The Russians and the Saudis for starters.

Last edited Sat May 30, 2020, 03:43 PM - Edit history (1)

Just look wherever he has a hotel.

I thought about this a bunch.

Somewhere, way down the line, someone is back stopping him.

I know enough about the aviation industry to understand that when you want to fuel a plane, the folks putting the fuel IN the plane WILL GET PAID or you won't get fueled again, period. Word gets out pretty quickly if you start stiffing FBO's

So Trumpy had a 767 he flew around on (And before that, a 737 ...Edit; It was a 727, not a 737) and it obviously burned fuel. So....you can pay for fuel on a credit card, even use one to put 10,000 gallons on a jet, no problem. Credit lines like that exist. So his line of credit wasn't declined...at least not so much that it became news.

But you can pay off one line of credit with another. And another. And so on...until.....


YOU CAN'T

And there is the backstop. There just has to be.

Somewhere, way down the line is a someone or someones who has a vested interest in ...

A) Making sure he is minimally solvent, and
B) Staying anonymous.

When all this comes out, and it will, sooner or later, it will be shown that Donald Trumpy was the biggest international con and scam artist to ever rise to political power in the West.

Ever.

And if it doesn't make the American people seriously re-think the way we do things, we deserve whatever follows.

[DFW]

25. He has certainly fought tooth and nail to conceal the identity of his last line of defense

My suspicion is the buck stops with someone whose initials are ВВП (V.V.P. in the Roman alphabet).

And I fully agree especially with your last part. If this is not a mistake we are willing to learn from, then we deserve whatever happens when it is made the next time.

Or, at least, if we don't stop it when it is next attempted (and after such a rollicking success in bringing us to our knees this time, it WILL be attempted again). the ones who tried to stop it will get something they do NOT deserve, and the rest won't be smart enough to care.