How Do Banks Make Money

People walk past a mural on a restaurant wall depicting U. Presidential hopeful Donald Trump and Russian President Vladimir Putin greeting each other with a kiss in the Lithuanian capital Vilnius on May 13, 2016. Russian intelligence agencies have allegedly recently digitally broken into four different American organizations that are affiliated either with Hillary Clinton or the Democratic Party since late May. How Do Banks Make Money of the hacks appear designed to benefit Donald Trump’s presidential aspirations in one fashion or another. When asked about this, and his affection for Russian president Vladimir Putin, Trump said any inference that a connection exists between the two is absurd and the stuff of conspiracy.

Most of the coverage of the links between Trump and Putin’s Russia takes the GOP presidential nominee at his word—that he has lusted after a Trump tower in Moscow, and come up spectacularly short. But Trump’s dodge—that he has no businesses in Russia, so there is no connection to Putin—is a classic magician’s trick. Show one idle hand, while the other is actually doing the work. The truth, as several columnists and reporters have painstakingly shown since the first hack of a Clinton-affiliated group took place in late May or early June, is that several of Trump’s businesses outside of Russia are entangled with Russian financiers inside Putin’s circle. So, yes, it’s true that Trump has failed to land a business venture inside Russia. But the real truth is that, as major banks in America stopped lending him money following his many bankruptcies, the Trump organization was forced to seek financing from non-traditional institutions. Several had direct ties to Russian financial interests in ways that have raised eyebrows. What’s more, several of Trump’s senior advisors have business ties to Russia or its satellite politicians.

Max Boot wrote in the Los Angeles Times. Trump has sought and received funding from Russian investors for his business ventures, especially after most American banks stopped lending to him following his multiple bankruptcies. What’s more, three of Trump’s top advisors all have extensive financial and business ties to Russian financiers, wrote Boot, the former editor of the Op Ed page of the Wall Street Journal and now a senior fellow at the Council on Foreign Relations. Trump’s de facto campaign manager, Paul Manafort, was a longtime consultant to Viktor Yanukovich, the Russian-backed president of Ukraine who was overthrown in 2014. Manafort also has done multimillion-dollar business deals with Russian oligarchs. Trump’s foreign policy advisor Carter Page has his own business ties to the state-controlled Russian oil giant Gazprom. Another Trump foreign policy advisor, retired Army Lt. 7 million in payments earmarked for him. Manafort said in a statement first reported by NBC News.

Donald Trump has a responsibility to disclose campaign chair Paul Manafort’s and all other campaign employees’ and advisers’ ties to Russian or pro-Kremlin entities, including whether any of Trump’s employees or advisers are currently representing and or being paid by them. But it is Trump’s financing from Russian satellite business interests that would seem to explain his pro-Putin sympathies. The most obvious example is Trump Soho, a complicated web of financial intrigue that has played out in court. A lawsuit claimed that the business group, Bayrock, underpinning Trump Soho was supported by criminal Russian financial interests. The financing came from Russian-affiliated business interests that engaged in criminal activities, it said. Trump took any part in, or knew of, their racketeering. Journalists who’ve looked at the Bayrock lawsuit, and Trump Soho, wonder why Trump was involved at all. What was Trump thinking entering into business with partners like these?

It’s a question he has tried to banish by downplaying his ties to Bayrock. But Bayrock wasn’t just involved with Trump Soho. It financed multiple Trump projects around the world, Foer wrote. But, as The New York Times has reported, that was only the beginning of the Trump organization’s entanglement with Russian financiers. Trump was quite taken with Bayrock’s founder, Tevfik Arif, a former Soviet-era commerce official originally from Kazakhstan. Bayrock, which was developing commercial properties in Brooklyn, proposed that Mr. Trump was eager to work with both financial groups on Trump projects all over the world. Trump was particularly taken with Mr.

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19 just starting college but if you have 4 million dollars your life is an easy breeze from here on out, the Times also reported that federal court records recently released showed yet another link to Russian financial interests in Trump businesses. You seem to be assuming all those with money are fearful of loosing it and are therefore misserable, we dont know exactly what to do with it. Money is historically an emergent market phenomenon establishing a commodity money, the averages we give are our own experiences.

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Arif had brought potential Russian investors to Mr. Bayrock knew the people, knew the investors, and in some cases I believe they were friends of Mr. The Times also reported that federal court records recently released showed yet another link to Russian financial interests in Trump businesses. Trump Soho was so complicated that Bayrock’s finance chief, Jody Kriss, sued it for fraud.

Russia and Kazakhstan whenever the business interest needed funding. There are other Russian business ties to the Trump organization as well. Trump’s first real estate venture in Toronto, Canada, was a partnership with two Russian-Canadian entrepreneurs, Toronto Life reported in 2013. The hotel’s developer, Talon International, is run by Val Levitan and Alex Shnaider, two Russian-Canadian entrepreneurs. Finally, for all of his denials of Russian ties lately, Trump has boasted in the past of his many meetings with Russian oligarchs.

How Do Banks Make Money Read on…

How Do Banks Make Money Read on…

During one trip to Moscow, Trump bragged that they all showed up to meet him to discuss projects around the globe. And when Trump built a tower in Panama, his clients were wealthy Russians, the Washington Post reported. Russians make up a pretty disproportionate cross-section of a lot of our assets. The only instance that Trump acknowledges any sort of Russian financial connection is a Florida mansion he sold to a wealthy Russian. What do I have to do with Russia? Trump said in the wake of the DNC hack.

But it should be obvious to anyone trying to pay attention to these moving targets that Trump is saying one thing and doing something else. When it comes to Trump and Russia, the truth may take awhile to emerge. Bloomberg reported in June that the Clinton Foundation was breached by Russian hackers. The Russians may also have acquired the emails that Hillary Clinton sent as secretary of State. In the 1970s, burglars broke into the Democratic National Committee headquarters in the Watergate office complex. President Richard Nixon, a Republican, was forced out of office for the White House cover up of its involvement in the DNC break in.

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Now, a generation later, a digital break in to the national headquarters of one of our two major parties by a foreign adversary in order to leak information that benefits the other national party’s presidential candidate seems to be just the normal course of doing business. The Trump era, it is safe to assume, is like nothing we’ve ever seen before. Saurack of Satterlee Stephens LLP, Bayrock’s attorney, provided the following statement after publication: The allegations made by Jody Kriss in the lawsuit are completely baseless and unsubstantiated. The allegations of tax fraud, as well as other allegations from his original complaint that are quoted in this article, were not included by Kriss when he filed a second amended complaint in the lawsuit. TIME Ideas hosts the world’s leading voices, providing commentary on events in news, society, and culture. Opinions expressed do not necessarily reflect the views of TIME editors.

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Your browser will redirect to your requested content shortly. Your browser will redirect to your requested content shortly. Where Pot Entrepreneurs Go When the Banks Just Say No As the legal markets for marijuana spread, a small credit union is solving a big problem: what to do with all the cash. It was wider at the bottom, sort of like an inverted funnel, and two buckles secured the flap. Babak Behzadzadeh knew exactly how he might use the bag when he saw it hanging in a shop in Playa del Carmen, Mexico: It could be his bank. Behzadzadeh placing cash in his satchel. Behzadzadeh owns two businesses in Denver.

Avicenna Products makes potent marijuana concentrates. Next door, Green Sativa grows marijuana, which it sells directly through its own medical dispensary and store. 350,000 in monthly sales, all of it in cash. He sat at the ornate wooden desk and on its inlaid-leather top began counting the bills in each thousand-dollar stack. Babak Behzadzadeh among the marijuana plants at Green Sativa. Growing and selling marijuana are, like using it, legal under Colorado law.