The Daily Mail published an astonishing article, finding that Joe and Jill Biden have refinanced their Delaware properties an unbelievable 35 times, including taking out multiple mortgages on those homes.
The article says that “the couple have had a habit of negotiating a new mortgage or credit deal on both homes every 17 months,” borrowing a total of $6 million on both of their Delaware properties, even though there’s still an outstanding $541,000 mortgage on their current three-bedroom, 4.5-bath Wilmington mansion nearly three decades after they bought it.
Here’s ChatGPT’s number one reason why this ‘fictional’ president may have taken out 17 mortgages and keeps taking out large sums of money: money laundering.
How on earth does this make sense since the Bidens have a reported net worth of $10 million?
A financial expert told the Daily Mail that “it doesn’t make a lot of sense unless they were desperate for cash.” If they have $10 million, why are they so desperate for cash? Why would they need to be using their homes, as the Daily Mail says, “as an ATM”?
The article points out that “the revelation comes as questions grow about the president’s involvement in his son Hunter’s shady business dealings with Chinese oil giant CEFC and other foreign entities.” Is this another way that the Bidens laundered money in addition to what the House Oversight Committee has discovered thus far?
The writer of the article says Biden’s net worth is from book deals. However, there are no records of him ever getting payment from book sales except for the signing bonus — because nobody reads the books.
So, why does he need all this money? Why does he need all this cash? I could be missing something — after all, I’m not ChatGPT, so I don’t have all the information at my digital fingertips.
That’s why I decided to ask ChatGPT what’s going on.
I told ChatGPT that I’m writing a television show about a president who is mortgaging his home over and over again and relayed some important information, such as how the president has received loan repayments — even though there is no record of any loans in his name — and how he repays these loans to his family, and the family repays loans to him.
This is what ChatGPT came up with. It gave me five reasons why the president would do this.
I will start with the least likely, which is reason number five: debt manipulation. Constant refinancing can be a method to manipulate debt and create the appearance of legitimate financial activity. This could help in justifying the large sums of money received and repaid. The president uses refinancing to take out large sums of money, which are then cycled through as repayments to family members. This creates the facade of debt management — that the president is simply managing personal debt rather than engaging in illicit activities.
Here’s reason number four: tax evasion. Refinancing can provide a way to manipulate taxable income and avoid taxes on illicit funds. By cycling mortgages, the president could claim interest deductions and reduce their overall taxable income. The interest payments on the refinancing mortgages can be deducted from taxable income, effectively reducing the president’s tax liability. The repayment to family members can be structured in a way that avoids declaring the foreign income, further aiding in tax evasion.
Reason number three: hiding assets. Frequent refinancing can be used to mask the president’s true financial status and hide assets from investigators or regulatory authorities. This can help in evading detection of illicit funds. The president uses the equity extracted from the refinancing to pay off family members, who then transfer the funds back as loan repayments. This cycle hides the actual wealth and the source of the funds, making it seem like the money is tied up in legitimate debt, rather than illicit gains.
Reason number two: creating a paper trail. Mortgage cycling can create a complex financial paper trail that makes it difficult for investigators to track the true source and destination of money. This can also help hide illegal financial activities. By refinancing frequently, the president can create a maze of financial transactions that obscure the flow of money. The complexity can make it harder for authorities to detect the link between the foreign payoffs and the repayment made to family members.
Here’s ChatGPT’s number one reason why this “fictional” president may have taken out 17 mortgages and keeps taking out large sums of money: money laundering. By continually cycling mortgages, the president could introduce large amounts of cash into the financial system under the guise of legitimate loans, which are then repaid using money received from foreign payoffs.
Why would the president do this? According to ChatGPT, the president’s family members receive substantial sums from foreign entities. These funds are then funneled into the mortgage refinancing process. Frequent refinancing and sizable loan repayments serve to obscure the funds’ origins, making the transactions appear legitimate.
That’s ChatGPT’s opinion on why one might do what the Daily Mail has just revealed as the Bidens’ standard operating procedure — nearly identical to what the House Oversight Committee has been investigating regarding Joe and Hunter Biden’s illicit foreign business dealings. These are the same things that the Democrats continue to call unfounded conspiracy theories. Perhaps they are not so unfounded after all.
