#banking-crisis
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'Rich Dad, Poor Dad' author reveals he's $1 billion in debt-but says going bust would 'not be his problem' | Fortune

"I use debt as money and I don't save cash because in 1971 the dollar became debt," he added, referring to the Nixon shock, where the former president ended the convertibility of the US dollar into gold, devalued the currency, and ultimately, led to the rise of cryptocurrencies. Instead, Kiyosaki uses debt to buy assets, like gold, which can withstand market crashes and spiraling inflation-unlike cash saved in the bank. "If I go bust, the bank goes bust," he added. "Not my problem."

Business

UK politics

fromIrish Independent

2 months ago

Government sale of final AIB stake crystallises 2bn loss on crash-era bailout

Taxpayers won't fully recoup the costs associated with saving major banks during the crisis despite some profit from stake sales.

fromIrish Independent

2 months ago

Government sale of final AIB stake crystalizes 2bn loss on crash-era bailout

The Department of Finance stated that, from an overall basis, taxpayers are approximately €0.6bn above break-even on their €29.4bn investment in AIB.

UK politics

Cryptocurrency

fromSlate Magazine

3 months ago

I Warned the Senate About a Crypto Crash. Now It's Coming.

Deregulation and risk in crypto markets may precipitate a larger banking crisis similar to the subprime fiasco.

Recent bank failures underscore ongoing vulnerabilities in the financial system amid crypto risks.

Fundraising

fromTruthout

4 months ago

Even for Those With the Money to Pay for Essentials, Cash Is Drying Up in Gaza

The conflict in Gaza has created a severe financial crisis, immobilizing the banking system and forcing people to resort to costly cash brokers.