Why not just create intangible collateral out of thin air? E.g. crypto? Then you... | Hacker News

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		applepple on May 13, 2021 \| parent \| context \| favorite \| on: Uber used 50 Dutch shell companies to dodge taxes ... Why not just create intangible collateral out of thin air? E.g. crypto? Then you just use some of the credit to pump up the value of the collateral to meet the bank's expectation.

KirillPanov on May 13, 2021 [–]

That's called fraud. You would need to find an especially stupid bank.

You can certainly do that, but if you're wiling to commit crimes there are much easier ways to make money.

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