Articles tagged with: Money

The 5 richest criminals of all time

18 April 2008 Sören Zschoche 327 Comments Entertainment

It´s not a big secret you can get rich as a criminal very rich,but if you believe Al Capone was the richest and greatest gangster who ever stepped on our planet you´re at fault. He was not even one of the first 5 richest criminals.

1. Pablo Emilio Escobar 1949 – 1993 9 Billion USD

Pablo Escobar was definitely the greatest and richest criminal the world hasA wanted poster of Pablo Escobar ever seen. In 1989 Forbes listed him as the seventh richest man in the world with an estimated net value of 9 Billion USD.Escobar was born in Colombia where from he estimated a drug cartel of incredible proportions. He had submarines, planes, and employed nearly every inhabitant of his hometown Medellin. On top of his career he even tried to become the president of Colombia, raged a court with tanks and build his own personal jail. All the same Palbo Escobar was shot in 1993 by an American special force.

2. Carlos Lehder 1950 – ? 2.7 Billion USD

According to my investigations the second place goes to Carlos Lehder. He worked together with Pablo Escobar and was one of the co-founders of the Medellin Cartel. His estimated net value was taxed on 2.7 Billion USD.

3. Susumu Ishii 1924 – 1991 1.5 Billion USD

Susumu Ishii was born in Tokyo in 1924. one of the heads of the Ingawa-Kai , Japan´s second largest “yakuza” underworld syndicate. Also he was the 5th soho of the Yokosusa-ikka. His estimated net value amounted to 1.5 Billion USD, which he earned through various loans, banking deals, and real estate scams. But as the Japanese economic bubble burst, Ishii was no longer “the world’s richest gangster”. His assets a his health declined rapidly, and diet one year later.

4.Anthony Salerno 1911 – 1992 600 Million USD

Anthony “Fat Tony” Salerno was a member of the American Cosa Nostra and the front boss of the Genovese crime family. He was born and raised in East Harlem, New York where he worked one´s way up to the top of New York’s mafia as a basher and shylock. In November 1984 the Chicago mob sent a messenger to ask Fat Tony to lay off in Vegas. The FBI had tapped Tony’s club where the meet was and that was the beginning of the end. Had Tony gone to meet with the Chicago boys in one of the Chicago Hotels maybe things would have ended differently. In 1986 he was sentenced to 100 years prison by the “Mafia Commission Trial” where he died in 1992.

5.Meyer Lansky 1902 – 1993 400 Million USD

Meyer Lansky was born in Grodno Russia and emigrated with is family to the U.S.A in 1911, where he settled down on the East Side of Manhattan. At the age of 25 he established gambling operations in Florida and Cuba in a time long before credit card machines. Later he realised own vulnerability to tax evasion prosecution, in response he transferred illegal funds from his growing casino empire to Europe. A few years later he even bought a complete offshore bank in Switzerland.

The only problem by getting rich as criminal is that you probably won´t life very long so don´t get into mischiefs … ;)

The Failure of the Federal Reserve System

1 March 2008 Sören Zschoche 5 Comments Politics

It´s really hard to understand what Ben Bernanke the chairman of the FED was doing in the last months. Hasn´t it always been the main priority of this facility to ensure price stability? Things have changed ostensibly, but which reasons had Ben when he lowered the prime rate constantly ? Did he want to be nice to the stockholders , beware the U.S. economy of a recession, or just help to allay the U.S. foreign depts ? To be honest I don´t know his intention but I can imagine that the government wanted to have a working economy ahead of the coming elections.

The phantom of the stagflation

But the problems which this policy implicated now slowly appear, because the coming recession is not the same like the one in 2001. The difference is that the inflation rate is much higher as it was in 2001 and so America now faces a stagflation. Stagflation a really accused word by every economist, fundamentally means nothing else as recession and inflation to the same time. Sounds funny but that´s a really nasty thing because when you want to fight the inflation you raise the prime rate but that is toxic for the conjuncture. So it´s a doom loop and the only way to solve this problem is to raise the prime rate and to sit out the recession.

The Low Dollar as a slide effect

A few month ago the international top-model Gisele Buendchen properly the best paid model in the word, said that from now she only accepts Euro for her work.

The reason was that the government didn´t want to have a recession now, and so the only thing the FED could do is to pour more and more money into the banking system with the hope to boost the economy. But this had slide effects, the Dollar was loosing in value more and more, because when the society has more money for the same amount of goods the money is loosing it´s value and that´s what we call an inflation. This again has effects on the international economy for example the high oil price can definitely be affiliated to the low dollar, the reason Oil is noted in USD and when the money is loosing in value you have to pay more for it. But there are also positive facts especially for the U.S. export economy here you can list very high rates of growth cause for example me as a European can afford more goods for my euros when I buy it in the U.S.

All in all we can say that the coming months won´t be easy, but in my opinion the fight against the inflation is definitely more important as the one against the recession.

The new United States five-dollar bill

21 February 2008 Michael Szumielewski 52 Comments Money

The new US five-dollar bill

Did you know that the US $5 bill has been redesigned and will be issued on March 13, 2008? Well, it turned from green to purple, but I am sure Abraham Lincoln will not be upset ;) The Bureau of Engraving and Printing enhanced security for the new bills, so they are harder to fake and easier to check. I recommend you to visit the official homepage so you know how to differ fake money from real U.S. currency. “Printing fake bills can be a lot more complicated then just getting a few machines and a bunch of printer cartridges like HP toner.”

You can look up the new features in a nice flash animation on portfolio.com. The new features are two new watermarks on both sides of the bill and an embedded security thread, which moved from the left of the portrait and is now located on the right side. The new $5 bill will remain the same size, but the color and images changed a bit. The color goes from a light purple in the center of the bill and blends into gray near the edges. This design update adds complexity to the bill to make counterfeiting more difficult. The Great Seal of the United States, a American symbol of freedom, has been added to the background and Lincoln’s portrait and vignette have also been changed. There are also a few other features like microprintings and of course the serial numbers.

The new money will be introduced on March 13, 2008 but of course you will not have to exchange your old $5 bills for new ones. Nevertheless, you will come across the $5 bills soon, because the “average life” of a $5 bill in circulation is 16 months before it is replaced due to wear, says the Bureau of Engraving and Printing. Approximately 9 percent of all paper currency produced by the U.S. Treasury’s Bureau of Engraving and Printing today are $5 bills. In fact, you can even still pay with U.S. banknotes from 1861, they are still redeemable today at full face value and will continue to be legal currency. The United States has never devalued its currency, so owning $5 bills seems like a quite sure thing to me.

How to get rich Part II

20 February 2008 Sören Zschoche 5 Comments Getting rich

So what the man did was the following, he knew that he didn´t earn as much money as others did but he also knew that others spent more money. Others work hard to earn more money just that they can spend more, but he wanted to work hard to save more money. He said that there is nothing more important as saving your money because if you don´t do that you will always work for the money but if you do it your money your money will work for you one day.

But saving money isn´t as easy as it seams, it really takes a long time and requires very much self discipline till you are the perfect depositor. The most important thing is that you really want to become rich but here are some other tricks to save money the man told me.

  • 1. Never leave the house with money you don´t essentially need.
  • 2. Break your EC and Credit Card(s) in two pieces you don´t need them anymore.
  • 3. When you have to buy something always look for the cheapest.
  • 4. Always remember one saved dollar is one earned dollar.

OK when you hear that it really sounds like the man had a very boring life, but he said that after a while you don´t even want to spend your money and get addicted to it somehow. Also you start to disdain the people who trow their money out of the window in the hope that the society respects you. You have to realise that money isn´t a toy you could rescue a child from the hunger death just for one dollar.

Saving money is the most effective and safest way of getting rich which is often very underrated by the people. Also the time value of money plays a very big role, like this short calculation shows.

For example if you start to save your money with the Age of 25 and you get 10 % interest rate till the age of 65 you got 4,868,518.11 USD. Otherwise if you start to save your money with the age of 55 you will just receive 175,311.67 USD.supertoll.PNG

Next time I will show you in which ways your money can work for you and where you get 10% interest rate.

Quotes about money and investing

12 February 2008 Michael Szumielewski 1 Comment Money

In this post you will find various quotations related to money and investing. From time to time we will add new quotes, in the mean time, enjoy yourself with this ones.

“A market is the combined behavior of thousands of people responding to information, misinformation and whim.”
Kenneth Chang

“Emotions are your worst enemy in the stock market.”
Don Hays

“Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.”
Peter Lynch

“90% of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework.”
William J. O’Neil

“Money talks…but all mine ever says is good-bye.”
Anonymous

“You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.”
Benjamin Graham

“Individuals who cannot master their emotions are ill-suited to profit from the investment process.”
Benjamin Graham

“Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble…to give way to hope, fear and greed.”
Benjamin Graham

“I made my money by selling too soon.”
Bernard Baruch

“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”
Bernard Baruch

“Why is there so much month left at the end of the money?”
John Barrymore

“The entire essence of America is the hope to first make money — then make money with money — then make lots of money with lots of money.”
Paul Erdman

“Money, the root of all evil…but the cure for all sadness.”
Mike Gill

“So you think that money is the root of all evil. Have you ever asked what is the root of all money?”
Ayn Rand

How to get rich – Part I

7 February 2008 Sören Zschoche 1 Comment Getting rich

Most people believe that earning more money is the most important thing in order to get rich, but that’s not true. In this post I´ll show you that everybody can be rich no matter where he´s from or what job he does. But first I want to tell you a story from one of my friends Steve.

Steve works as an financial adviser for more than 2 years now, last week I met him in a bar and we talked about many different things. Finally he talked about his job and told me that last week a man came to him who needed help with his tax return.

The man drove an old car and didn´t really look like having money but he was extremely rich and had several million euros on his bank account. So my friend got inquisitive and asked him what he works as. The man smiled and replied that he worked as a construction worker for a long time, but now he unfortunately has no time for that job anymore. My friend thought he was joking and so he asked him if he inherited it or if he had won the lottery, but the man denied.

Then the man explained my friend that you don´t need a good school education for getting rich its helpful but not necessary. Much more important is your character and discipline. Getting rich is very easy, but you have to do it. My friend said to me that at this point he was pretty sure that the man was joking on him. But the man went on and told my friend that the only thing you have to do is to save your money and find ways to let your money work for you and one day the money will earn more for you as you do and then you are rich.

Next time I will tell you what exactly the man did, you will be impressed how easy it is. You just have to do it …