this post was submitted on 23 Feb 2025
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It's called "Buy, Borrow, Die", and that's exactly what they do. They buy or inherit assets, hold them indefinitely, because they have no monetary value until sold, and take out loans using those assets as collateral. Then they just pay the interest on the loans, and then play with the money. Southern slave owners were doing a similar thing before Emancipation. The lax rules of Southern banking even allowed them to take out multiple loans on a single slave.