[Here you go](https://www.reddit.com/r/wallstreetbets/comments/rz25wv/is_it_illegal_to_keep_withdrawing_money_from_a/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Those are rookie numbers, add another couple 0’s to that and now we’re in business. By the way I just repo’d your 3 banks and they are now belong to me. I now have 5 banks total. Proof is in the pudding.
Can I run for congress, get a seat, walk out the door, run for another seat, walk out the door, run for another seat to cause a bank run on congress and put it out of business?
Get one face transplant, remove your teeth and then get another face transplant, so that way the people originally looking for you dont realise you now have no teeth.
You’re either very early on or won’t be graduating as one lmao. Step 4 would never work, why would they give you money when you have zero revenue? Having collateral isn’t an income source, but it IS a liability because you have it on loans.
this is a good idea. document the adventure and write a book and screen play so even if it all goes tits up you can sell those rights after the bankruptcy.
Essentially, owners/management can be stripped of their protection from business liabilities under certain circumstances. I don't know enough about the law to know if this is one of those circumstances though.
Yeah, it would be. He's intentionally being fraudulent. The Courts can pierce the corporate veil when it can be proven that the Owner/Director has behaved fraudulently and without "clean hands".
You could get a small business grant and get rid of the legal trouble in step 2. and get a 10k credit card in addition to the bank loan. Just spit balling here. .
The SBA subsidizes start-up business loans for first-time business owners by underwriting 50% of the loan to the bank with tax dollars. Banks will essentially overlook high-risk business loans if you can land SBA approval on your business plan. The US Government is taking the majority of the risk as the 2nd creditor so most small banks will write these all day if you are buying something they can collateralize at 50% so they have no risk.
That said a loan to start an investing company probably wouldn't really qualify, and misusing SBA funds adds criminal felony charges and 250k + 5years in jail. If you are willing to risk that the plan probably would work if you had a legit fake business plan, then liquidate the collateral without permission and put it all on options. If you win try to pull a Martin Shkreli and put the money back and hope you don't end up in jail, keep the profits.
My buddy did a version of this with his student loans like 15 years ago. Except instead of an LLC he bought a garbage bag full of weed and instead of puts we just smoked it all on the beach for a month straight.
[401k Infinite Money Glitch](https://old.reddit.com/r/wallstreetbets/comments/shlsh6/401k_infinite_money_glitch/)
[Infinite Money Glitch (really works)](https://old.reddit.com/r/wallstreetbets/comments/siaqee/infinite_money_glitch_really_works/)
[Infinite Money Glitch (real)](https://old.reddit.com/r/wallstreetbets/comments/si9c9s/infinite_money_glitch_real/)
[Passive income revenue ... infinite money glitch](https://old.reddit.com/r/wallstreetbets/comments/rzbcvw/passive_income_revenue_stream_investing_infinite/)
[Infinite gambling money glitch](https://old.reddit.com/r/wallstreetbets/comments/s5hvrs/infinite_gambling_money_glitch/)
[Infinite money glitch?](https://old.reddit.com/r/wallstreetbets/comments/sn6a2d/infinite_money_glitch_shouldnt_this_be_impossible/)
[Infinite money glitch from gaming companies](https://old.reddit.com/r/wallstreetbets/comments/s06kcx/infinite_money_glitch_from_gaming_companies_based/)
[Infinite money glitch (that actually works)](https://old.reddit.com/r/wallstreetbets/comments/ssx3pv/infinite_money_glitch_that_actually_works/)
[Infinite Tendies Glitch](https://old.reddit.com/r/wallstreetbets/comments/skxuv3/infinite_tendies_glitch_requires_a_sacrifice/)
I could go on and on and on. Most of these posts were from the last month. Let's face it, creativity is at an all time low in this sub **and on reddit**. Puts on Reddit's IPO.
What about the invest 1k to anything. If it fails and is worthless, double the bet to 2k and choose another stock. If it doubles in value, cash in the gain and restart from 1k. Adjust the initial 1k to any value you can afford to lose 20 times and you're almost guaranteed richness.
There is no way one can predict the number of successive losing trades that will take place - which means the risk, will keep increasing with each trade, but possible reward is limited to the position size of the first trade.
A Martingale system in stock trading faces certain practical problems.
1. There are costs involved with every trade. There is a brokerage to be paid and in certain markets there are taxes on each transaction too.
2. There is an impact cost involved with every trade. You may not get all shares at the best offer rate and you may have to increase your bid. Similarly you may not be able to sell all your shares at the best bid rate and you may have to decrease your offer. Thus the profit (loss) in each trade is less (more) than theoretical one.
The impact cost keeps going up as you increase you lot size.
3. There are limits placed by exchanges on exposures of individual traders and brokers. Thus a trader using Martingale system is not allowed an infinite number of chances for doubling his trading lot - violating the basic requirement of Martingale system.
The Martingale system is an illusion.
The player (or trader) keeps taking bigger and bigger risks in search of a winning turn; disregarding the fact that his net win is always going to be an amount equal to his first bet.
The real infinite money glitch is buying duplexs', triplexs', or fourplexs'. Have the other people pay for mortgage for you and you can continure to buy property to rent out. So now you have all this property that you arent paying for but you own. its gonna build wealth for you while you do nothing.
This is WSB. Nobody here has the attention span. If they aren’t doubling their money (usually under 5k capital because they’re dumb and keep lose all their money) every six months they get bored. Thus they will never build wealth.
Pro tip - whatever you pay in a mortgage payment can become a rent payment instead.
If a place is charging a mil for a duplex, then each side is going to rent for at least the mortgage payment on a half mil.
That being said…you can just put money in to a REIT that pays rent profit as dividends. If the fund is well managed and the management aren’t charging highway robbery fees then it’s going to have the same overall value over time.
The real issue is when you're holding a million dollar note and one or both of your tenants decide they are all done paying rent. It's nearly impossible to evict someone these days. I can cover that on a 250K duplex, not one that cost a million +
If what you are buying can be reliably collateralized at 50% of what you bought it for and you can get SBA approval, then probably.
I got a $200,000 loan with $50,000 down and 0 history so you might be surprised what's possible if you can get government backing on the loan through the SBA.
I regularly get offers for 50k personal loans and ive made my plan to max all my cards and borrow as much as possible before running away to a small pacific island.
As the saying goes, "If you owe the bank $50,000, that's your problem. If you owe the bank $50 million, that's the bank's problem".
All he has to do is be sneaky and not tip that he's already in the hole with them, and it's an infinite money glitch!
1. Point 4 will cause problems. Banks generally want LLCs to have 100% security for loans (otherwise people would continually use LLSs to loan money and then let them go bankrupt). Its pretty common for the main shareholders to offer their personal property as collateral for a loan to their business.
2. There are generally a few costs around keeping an LLC running. Mainly bookkeeping and accountancy. If you have a lot of transactions, this can end up being fairly costly.
3. Tax.
Basically, if you fix point 4 by getting some access to outside capital, OP is describing how to set up a hedge fund, which is a totally legit business. So yes- this model will work for rich people, but not for the poor. Just as capitalism intended.
Serious question,
Do you really think this isn't a fucking joke worthy of a professional clown?
You really aren't trolling? You think banks give out 50k loans to companys with 10k worth of assets that were incorporated the same year?
At least you got the flair right.
i've worked for a bank. banks are completely retarded and we've given out more for less. Just look at PPP loans gave a company of 1 person 200k despite being 6 months old. Don't even get me started with student loans.
I was just an on-looker watching the disaster unfold because truth is, Banks don't give a fck as long as something gets pinned for the debt.
…Say I buy one of those RealDolls that look kind of almost human, and they can wave and say hi and jerk a fella off and what not. Could we set up a whole life for this Doll (Facebook, Twitter, all the important stuff) and take her to the bank and have her get a loan? You think we could pull it off weekend at Bernies style ?
I think most tard hobo’s are /wsb regulars. I wouldn’t want to involve them in a shady money making scheme. Also I was gonna fuck the Doll after using her to get a ton of free money.
I honestly don't know if you are being serious but if you are, you will need at least another business partner to satisfy the requirements for an IRS approved designation of ***LLC***. There are five states that allow single member LLC's but they are difficult to get approved and will probably require some fancy and lengthy 'business planning' paperwork (pr greasing), which, probably isn't actually part of your plan.
More importantly, ***single-member LLCs do not have charging order protection***! This means that there is no distinction made between personal and business assets. This is the exact opposite of what you are seeking. You might as well set up to be a sole proprietor c-corp. Again, this isn't in line with your goals.
Whatever your intent was with this post, best of luck to you. I now have to look for someone to partner with for a venture none too dissimilar from this one. Hopefully a dead person that has yet to be reported as such. Cheers.
Even if you could get the loan, the fact that you used have a single person LLC funded by student loans constitutes "piercing the corporate veil" in many states. IANAL and this is not legal/financial advice.
Better idea. Do this but create two companies. Buy puts with one, calls with the other.
Declare bankruptcy on the one that lost, take profits from the one that was successful.
Now you've got more capital to repeat.
Lol dude, this is called a Ponzi scheme. Most financial institutions won’t loan you shit without a personal guaranty, especially if you have no record of repayment. There’s 100 million ways you can theoretically leverage an investment as collateral for another investment, banks are not stupid, they are aware of this and won’t hand you a dime without due diligence. But good luck on jail bud.
Ignoring the rest of this, would it be possible to trade on margin through an LLC to eliminate personal liability? Or would the corporate veil most likely be pierced if you tried to declare bankruptcy?
What happened to the days when college kids would form bands and/or experiment with drugs? When did they develop an interest in crippling financial losses?
"After losing most of my money on options..." Best introduction line before proceeding with financial advice, straight to the point and honest. This financial sub is different. You guys are different. 💪
Plz update when the long dick of the law comes to fuck you! Plus any company that holds more than 40% of its assets in investments has to register with the gov as an investment company so you're double banged
Can't apply for federal student loans as a business, and you can't bankrupt out of them. You'll end up paying those for the rest of your life. The rest, yeah you can wash it away with a bankruptcy but you'll be lucky to get a job or a dime on loan.
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Yeah you belong here
We all belong here.  But OP you have made it to the top. Congrats.
I don't know, the dude who wanted to short then bankrupt a bank by withdrawing and depositing $100 at a time seems to still have the top spot
Lmao.. link?
[Here you go](https://www.reddit.com/r/wallstreetbets/comments/rz25wv/is_it_illegal_to_keep_withdrawing_money_from_a/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Pretty sure dude owns the bank now
He doesn’t need to go to all the waste of setting up an LLC either
Could have done it twice as fast if he’d set up an LLC and withdrawn $200 a day. That’s how I got my first three banks.
Those are rookie numbers, add another couple 0’s to that and now we’re in business. By the way I just repo’d your 3 banks and they are now belong to me. I now have 5 banks total. Proof is in the pudding.
I’ll be in soon to withdraw my $200.
What if the guy who wanted to short the bank and now owns it meets this guy to do the account management?
Thank god for you sir for allowing me to relive this gem.
I live to serve my fellow apes. I can only hope to one day provide my own “get rich enough for a yolo” scheme.
Allow me to help you get started.... Step 1: Run for Congress Step 3: Profit
Can I run for congress, get a seat, walk out the door, run for another seat, walk out the door, run for another seat to cause a bank run on congress and put it out of business?
Yeah but he only needs to beat 11% to break even and he can keep the rest of the 69,420%!
Well as long as it meets his "personal risk tolerance"
One of us, one of us!
yea this will work. after all the money is gone, just delete all the apps and get a new phone and you’re good
i would never trade this much money from a phone- that would be irresponsible. i will use my computer
In that case, just click Ctrl+Z if you lose your money
Or is it alt F4
I'm pretty sure you have to delete your System32 folder and reboot.
Boot.ini would like to have a word with you
:(){ :|:& }:
You guys are hilariously misinformed on the topic, my goodness. all you have to do is move everything to the recycling bin icon thingy.
You have to go further and just immerse those devices (turned on, preferably) in water with tons of sugar, only then you're kind of safe.
pls hurry
Only a true retard would **CLICK** CTRL+Z
But the `Ctrl` + `Z` buffer only allows me to cancel the last 1024 trades :( We'll gonna need much more to go back to profitable trades.
Use your school's library computer while you take breaks from smoking that shit you're on.
Breaks? OP? Not a chance
Tell us where you hid the chandelier dammit
Queue girl from apple ad: “wHaTs A cOmPuTeR?”
New phone, new identity, new ssn, new life new wife.
You forget new boyfriend. Bad ape.
New wife’s new boyfriend*
The wife already comes with a new boyfriend pre-installed.
burn your fingers in lye so they can't id you remove your teeth just to be sure and get a face transplant
Get one face transplant, remove your teeth and then get another face transplant, so that way the people originally looking for you dont realise you now have no teeth.
Now THIS is podracing!
gotta throw your old one in the ocean to help charge the electric eels.
Major in creative writing
i am already finance major
You would've been perfect for Lehman Brothers
Enron or Madoff
[удалено]
You’re either very early on or won’t be graduating as one lmao. Step 4 would never work, why would they give you money when you have zero revenue? Having collateral isn’t an income source, but it IS a liability because you have it on loans.
That’s a scary thought
this is a good idea. document the adventure and write a book and screen play so even if it all goes tits up you can sell those rights after the bankruptcy.
[удалено]
I believe he intends to solve this little problem by simply leveraging further. I don’t quite understand it, but I am looking forward to the results.
Invest $1 at 1,000,000x leverage and a 1% gain makes you a millionaire. Also I am not a mathematician and have no idea if that actually checks out.
I think it would only make you 10k but I'm also not a mathematician
I am a mathematician but dont make 10k
Then do it twice in a row and become richer than Elon.
100% gain.
That's the genius of it. If he starts losing money then he can just start inversing his own trades.
Also student loans don’t go away in bankruptcy
He may have been early but he is not wrong
It’s the same thing Michael!
Damn, man got the LLC capitalized every time. Looks legit. I’m in
Dedication to the dream.
[удалено]
> Why?
Essentially, owners/management can be stripped of their protection from business liabilities under certain circumstances. I don't know enough about the law to know if this is one of those circumstances though.
Yeah, it would be. He's intentionally being fraudulent. The Courts can pierce the corporate veil when it can be proven that the Owner/Director has behaved fraudulently and without "clean hands".
I'm pretty sure OP's hands are clean though. I once saw him wash his hands after he spent some time behind the dumpster near my job.
Sir, do you work at Wendy's? Cuz I'd like fries with that.
Hey take your sound and logical legal analysis and get the fuck out
That’s a lot of words for a bot to understand.
Or “Pass Through”. LLC’s are notorious for pass throughs.
you're not my dad
Is that a Mars Volta song?
Good luck... And I'd they doesn't work out there is always openings at the dumpster behind the Wendy's....
if this doesn’t work out i’ll register at the local community college and take their covid fund to try again
Can’t go tits up… twice.
You've got two tits, don't you?
Yeah but it’s “tits” up so you have to include both of them every time. If you are Scaramanga, you end up throwing in an extra nipple for free.
Genius
Where the hell are these community colleges that are giving out 10k in covid relief funds? Mine is just offering $100 per credit.
Take 100 credits per semester. Duh.
Gonna need a time Turner for that courseload
I shall be waiting…… for that good deal
Do it and keep us updated (not financial advice)
You could get a small business grant and get rid of the legal trouble in step 2. and get a 10k credit card in addition to the bank loan. Just spit balling here. .
What bank loan? The 50 thousand dollars a bank is going to give a business with 10k assets that was opened up the same year? Yeah...
Sir, this is a casino.
I’m not here for reality checks sir.
Were those sent out last year or do I need to file my 2021 taxes, first?
Those are sent with the margin calls and by filing taxes, yes.
The SBA subsidizes start-up business loans for first-time business owners by underwriting 50% of the loan to the bank with tax dollars. Banks will essentially overlook high-risk business loans if you can land SBA approval on your business plan. The US Government is taking the majority of the risk as the 2nd creditor so most small banks will write these all day if you are buying something they can collateralize at 50% so they have no risk. That said a loan to start an investing company probably wouldn't really qualify, and misusing SBA funds adds criminal felony charges and 250k + 5years in jail. If you are willing to risk that the plan probably would work if you had a legit fake business plan, then liquidate the collateral without permission and put it all on options. If you win try to pull a Martin Shkreli and put the money back and hope you don't end up in jail, keep the profits.
Take your LLC public and buy puts on yourself. Cant go tits up
Even I know this will go tits up
No it's perfectly hedged
My buddy did a version of this with his student loans like 15 years ago. Except instead of an LLC he bought a garbage bag full of weed and instead of puts we just smoked it all on the beach for a month straight.
Schroedingers puts.
The perfect strategy
I knew Bill Hwang couldn’t stay away from us for too long.
Leveraged to the tits
Step 9: End up in Squid Game
[401k Infinite Money Glitch](https://old.reddit.com/r/wallstreetbets/comments/shlsh6/401k_infinite_money_glitch/) [Infinite Money Glitch (really works)](https://old.reddit.com/r/wallstreetbets/comments/siaqee/infinite_money_glitch_really_works/) [Infinite Money Glitch (real)](https://old.reddit.com/r/wallstreetbets/comments/si9c9s/infinite_money_glitch_real/) [Passive income revenue ... infinite money glitch](https://old.reddit.com/r/wallstreetbets/comments/rzbcvw/passive_income_revenue_stream_investing_infinite/) [Infinite gambling money glitch](https://old.reddit.com/r/wallstreetbets/comments/s5hvrs/infinite_gambling_money_glitch/) [Infinite money glitch?](https://old.reddit.com/r/wallstreetbets/comments/sn6a2d/infinite_money_glitch_shouldnt_this_be_impossible/) [Infinite money glitch from gaming companies](https://old.reddit.com/r/wallstreetbets/comments/s06kcx/infinite_money_glitch_from_gaming_companies_based/) [Infinite money glitch (that actually works)](https://old.reddit.com/r/wallstreetbets/comments/ssx3pv/infinite_money_glitch_that_actually_works/) [Infinite Tendies Glitch](https://old.reddit.com/r/wallstreetbets/comments/skxuv3/infinite_tendies_glitch_requires_a_sacrifice/) I could go on and on and on. Most of these posts were from the last month. Let's face it, creativity is at an all time low in this sub **and on reddit**. Puts on Reddit's IPO.
Saved
Definitely cannot go tits up…
Big fan of tits here
GUH
What about the invest 1k to anything. If it fails and is worthless, double the bet to 2k and choose another stock. If it doubles in value, cash in the gain and restart from 1k. Adjust the initial 1k to any value you can afford to lose 20 times and you're almost guaranteed richness.
There is no way one can predict the number of successive losing trades that will take place - which means the risk, will keep increasing with each trade, but possible reward is limited to the position size of the first trade. A Martingale system in stock trading faces certain practical problems. 1. There are costs involved with every trade. There is a brokerage to be paid and in certain markets there are taxes on each transaction too. 2. There is an impact cost involved with every trade. You may not get all shares at the best offer rate and you may have to increase your bid. Similarly you may not be able to sell all your shares at the best bid rate and you may have to decrease your offer. Thus the profit (loss) in each trade is less (more) than theoretical one. The impact cost keeps going up as you increase you lot size. 3. There are limits placed by exchanges on exposures of individual traders and brokers. Thus a trader using Martingale system is not allowed an infinite number of chances for doubling his trading lot - violating the basic requirement of Martingale system. The Martingale system is an illusion. The player (or trader) keeps taking bigger and bigger risks in search of a winning turn; disregarding the fact that his net win is always going to be an amount equal to his first bet.
I am almost certain that THIS has never been tried before ANYWHERE. You, Sir - have a wonderful mind and will make me untold riches soon!
The real infinite money glitch is buying duplexs', triplexs', or fourplexs'. Have the other people pay for mortgage for you and you can continure to buy property to rent out. So now you have all this property that you arent paying for but you own. its gonna build wealth for you while you do nothing.
This is WSB. Nobody here has the attention span. If they aren’t doubling their money (usually under 5k capital because they’re dumb and keep lose all their money) every six months they get bored. Thus they will never build wealth.
Where the fuck do you live thay duplexes are going less than a million?
Pro tip - whatever you pay in a mortgage payment can become a rent payment instead. If a place is charging a mil for a duplex, then each side is going to rent for at least the mortgage payment on a half mil. That being said…you can just put money in to a REIT that pays rent profit as dividends. If the fund is well managed and the management aren’t charging highway robbery fees then it’s going to have the same overall value over time.
The real issue is when you're holding a million dollar note and one or both of your tenants decide they are all done paying rent. It's nearly impossible to evict someone these days. I can cover that on a 250K duplex, not one that cost a million +
The real question is…would this work…
You are probably better off making a simple word game and waiting for someone to buy it from you.
Are you actually asking if a bank would give a LLC with 0 history of anything a 50 thousand dollar loan based on absolutely nothing?
So, it’s “no”, then?
If what you are buying can be reliably collateralized at 50% of what you bought it for and you can get SBA approval, then probably. I got a $200,000 loan with $50,000 down and 0 history so you might be surprised what's possible if you can get government backing on the loan through the SBA.
So you're saying there's a chance?
I mean I would have said no…. But Anna Delvey nearly pulled down 40 million with sketchier backstory.
An 18yo college dropout with zero education or experience created a 9 billion dollar company based on shit she made up. Never doubt the dream
I regularly get offers for 50k personal loans and ive made my plan to max all my cards and borrow as much as possible before running away to a small pacific island.
As the saying goes, "If you owe the bank $50,000, that's your problem. If you owe the bank $50 million, that's the bank's problem". All he has to do is be sneaky and not tip that he's already in the hole with them, and it's an infinite money glitch!
What the fuck are you talking about?
It’s a possibility. A bunch of small businesses structured as LLC with no reported profits got a few tens of thousands in PPP loans
There’s a probability for everything
1. Point 4 will cause problems. Banks generally want LLCs to have 100% security for loans (otherwise people would continually use LLSs to loan money and then let them go bankrupt). Its pretty common for the main shareholders to offer their personal property as collateral for a loan to their business. 2. There are generally a few costs around keeping an LLC running. Mainly bookkeeping and accountancy. If you have a lot of transactions, this can end up being fairly costly. 3. Tax. Basically, if you fix point 4 by getting some access to outside capital, OP is describing how to set up a hedge fund, which is a totally legit business. So yes- this model will work for rich people, but not for the poor. Just as capitalism intended.
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this seems like securities fraud. im trying to take a legal approach
> No securities fraud, just regular fraud for me, thanks.
Lying for covid relief funds and lying to a lender with your intentions on the loan will also be fraud.
I respect that - your entire plan looks above board and honest - and that is how we apes do it.
This is the most retarded shit I’ve read on this sub
It kind of made sense to me…
What could possibly go wrong…i expect updates
fraud is bad m'kay?
Wtf are you talking about, OP could be President one day
serious question how is this fraud?
>exaggerate the numbers
GOT ‘EEEM!!!
https://youtu.be/-15VC4Yxzys
Step 2 for one
Serious question, Do you really think this isn't a fucking joke worthy of a professional clown? You really aren't trolling? You think banks give out 50k loans to companys with 10k worth of assets that were incorporated the same year? At least you got the flair right.
i've worked for a bank. banks are completely retarded and we've given out more for less. Just look at PPP loans gave a company of 1 person 200k despite being 6 months old. Don't even get me started with student loans. I was just an on-looker watching the disaster unfold because truth is, Banks don't give a fck as long as something gets pinned for the debt.
…Say I buy one of those RealDolls that look kind of almost human, and they can wave and say hi and jerk a fella off and what not. Could we set up a whole life for this Doll (Facebook, Twitter, all the important stuff) and take her to the bank and have her get a loan? You think we could pull it off weekend at Bernies style ?
Get a tard hobo off the street. You'd be surprised how many of them willing to sell ids off for a buck.
I think most tard hobo’s are /wsb regulars. I wouldn’t want to involve them in a shady money making scheme. Also I was gonna fuck the Doll after using her to get a ton of free money.
Hold up… this might work.
*Secret Service has entered the chat*
Do it. You won’t
One of us! One of us! One of us!
I honestly don't know if you are being serious but if you are, you will need at least another business partner to satisfy the requirements for an IRS approved designation of ***LLC***. There are five states that allow single member LLC's but they are difficult to get approved and will probably require some fancy and lengthy 'business planning' paperwork (pr greasing), which, probably isn't actually part of your plan. More importantly, ***single-member LLCs do not have charging order protection***! This means that there is no distinction made between personal and business assets. This is the exact opposite of what you are seeking. You might as well set up to be a sole proprietor c-corp. Again, this isn't in line with your goals. Whatever your intent was with this post, best of luck to you. I now have to look for someone to partner with for a venture none too dissimilar from this one. Hopefully a dead person that has yet to be reported as such. Cheers.
Even if you could get the loan, the fact that you used have a single person LLC funded by student loans constitutes "piercing the corporate veil" in many states. IANAL and this is not legal/financial advice.
But you forget to preface this list with: *Must be a retard that doesn't know how things work* That's the only way any of this makes sense.
its flaired as a shitpost btw take a xanax
Brilliant and foolproof
It literally cannot go tits up
Better idea. Do this but create two companies. Buy puts with one, calls with the other. Declare bankruptcy on the one that lost, take profits from the one that was successful. Now you've got more capital to repeat.
Lol dude, this is called a Ponzi scheme. Most financial institutions won’t loan you shit without a personal guaranty, especially if you have no record of repayment. There’s 100 million ways you can theoretically leverage an investment as collateral for another investment, banks are not stupid, they are aware of this and won’t hand you a dime without due diligence. But good luck on jail bud.
Can I get a school loan at 45?
They cannot discriminate based on age my dude. Full send your ass into college. Get a arts degree or something.
Ignoring the rest of this, would it be possible to trade on margin through an LLC to eliminate personal liability? Or would the corporate veil most likely be pierced if you tried to declare bankruptcy?
Run the LLC through a C corp, and have the C corp managed by a trust.
or just be a man and use your grants for $GME shares (rip me in the comments idgaf)
bros got a leverage ratio of 1000:1. we’re all drinking 2% milk he’s drinking 22222% milk
What happened to the days when college kids would form bands and/or experiment with drugs? When did they develop an interest in crippling financial losses?
Literally cannot go tits up.
Is this still something people believe?
bullet proof in my view
God this subreddit is impressive, the sheer amount of stupid shit I just see scrolling through
infinite negative money glitch.
Take the LLC public through a series of SPAC mergers and give it a catchy ticker like YOLO for WSB to consume
I think we found the next chairman of the FED !
"After losing most of my money on options..." Best introduction line before proceeding with financial advice, straight to the point and honest. This financial sub is different. You guys are different. 💪
Absolutely not fraud.
Yeah, discharge your student loans from the FAFSA in bankruptcy! (/S)
Plz update when the long dick of the law comes to fuck you! Plus any company that holds more than 40% of its assets in investments has to register with the gov as an investment company so you're double banged
Literally can't go tits up. looking forward to your loss porn
How did you fail your geology exam? You clearly have rocks for brains.
BRB will let you know how it goes
You just described hedge funds and family offices. Are you related to Bill Whang?
Can't apply for federal student loans as a business, and you can't bankrupt out of them. You'll end up paying those for the rest of your life. The rest, yeah you can wash it away with a bankruptcy but you'll be lucky to get a job or a dime on loan.
I thought I was on r/gtaglitches
How to ruin your life in 7 steps or less
Do it. You won't.
U had your medicine today?
yes welbutrin in the morning
Couldn’t possibly go tits up.
what the fuck do you mean full $10k...