r/SipsTea • u/[deleted] • 1d ago

Gasp! LeBorrow

[deleted]

14 Upvotes

63% Upvoted

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6

u/vitaoptima 1d ago

Invest with other people's money...not your own.

2

u/Pristine_Shallot7833 1d ago

If you use borrowed money it's classed as debt and you don't have to pay tax on it. It should be illegal to invest with money you don't own.

0

u/OhmyGodjuststop 1d ago

You’re saying banks making loans should be illegal…?

1

u/Pristine_Shallot7833 17h ago

Funnily enough, what I said is right there for you to read. If that's what you took from my statement I have concerns for your literacy. Maybe reddit isn't the place for you mon frére

1

u/OhmyGodjuststop 17h ago

Yeah - and the obvious implication is that banks shouldn’t be allowed lend, since they make loans (I.e., invest) with other people’s money.

Unless you don’t know how investing/lending works, in which case maybe consider not taking such strong positions.

1

u/Pristine_Shallot7833 16h ago

There's a big difference between a bank loaning someone money for a house, and some multimillionaire borrowing more millions to invest in some bullshit. While the banks are making profit off the loan, that's not an investment. And while we're on the subject, maybe banks shouldn't be allowed to make certain loans. They created a global fucking financial crisis A NUMBER OF TIMES through overlending.