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Robert Kiyosaki gets "sexually stimulated" thinking about defaulting on $1,200,000,000 in debt… “If you owe the bank $20,000,000 and can't pay it back, you have a problem… But if you owe $1,000,000,000 and can't pay it back, it's the bank's problem”

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Giannis says if you owe the bank $100 million, that’s not your problem, it’s theirs “Debt’s my friend. I can make more money on return of investment” “If you have a debt and you owe the bank $100 million, you don’t have a problem. They have a problem” “People don’t understand, money makes more money for you…”

Giannis says if you owe the bank $100 million, that’s not your problem, it’s theirs “Debt’s my friend. I can make more money on return of investment” “If you have a debt and you owe the bank $100 million, you don’t have a problem. They have a problem” “People don’t understand, money makes more money for you…”

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💵Robert Kiyosaki, author of the bestseller “Rich Dad Poor Dad,” admits he’s now $1.2 billion in debt When asked whether such a sum scares him, he burst out laughing and said it actually motivates him. “When you owe the bank 20 million — that’s your problem. But when you owe a billion — that’s the bank’s problem,” he said.

💵Robert Kiyosaki, author of the bestseller “Rich Dad Poor Dad,” admits he’s now $1.2 billion in debt When asked whether such a sum scares him, he burst out laughing and said it actually motivates him. “When you owe the bank 20 million — that’s your problem. But when you owe a billion — that’s the bank’s problem,” he said.

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Debt isn’t the problem if you have enough income to pay the interest on the debt. You can learn more about the red flags of when debt becomes a problem in my study here: #principles #howcountriesgobroke

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Tax expert explains what happens if you owe millions to the IRS and can’t pay “If you owe the IRS and you legitimately don’t have the money to pay them, you have two options. You can either get on a payment plan or you can do an offer in compromise” “Now the payment plan only works if your tax bill is $50,000 or less. So if you’re making millions and you owe millions, you’re in a situation here” “This is where the offer in compromise comes in. The IRS knows you probably aren’t going to be able to pay them back with the income that you currently have sitting inside your savings account or the income that they can see coming in” “So if you can show that you’ve had a negative economic gain, you’re making less money, you’re not able to really grow your revenue, they will start to focus on creating a compromise with you” “We call these OICs. This is where you offer the IRS a reduced amount and you compromise on that amount and hopefully you can pay that in a lump sum and be able to rid away with your IRS debt” “Or what they’ll also allow for you to do is pay a percentage of it in a lump sum and then get the rest on a payment plan”

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Two ways out of debt: - Pay it back - Default Unless you can print what you owe, like the US government. The US can’t default. The US can’t afford its debt. Only option? Print dollars. Don’t save in what they have to print. Opt out. Buy #Bitcoin 🫡

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