You jokers are missing it. You are trying to bring in socialism and maybe communism. And maybe you don't even know it.
Consider. Grandma has an old picture, in reasonable shape, of her wedding to Grandpa, who has passed on some time ago. She is getting kinda old, and is making mistakes in her memory at times. Her kids are in the process of cleaning up her belongings... getting rid of any non-essentials.
The kids come to the picture, and they want to sell it at an auction along with a lot of Grandma's property. They put a value of $5 on the picture. But Grandma wouldn't sell that picture for $10 million.
Who cares what other people think about the value of your property. It's your property, and you can put a value on it that suits you.Granted, Trump doesn't understand the basics of law in the US. If he did, he would have hired his attorneys as advisors, rather than to speak on his behalf in court. But the point is, he has a right to value his property at any amount he desires... because it is his property. If the whole world says the value is different than Trump says, they don't have the right to change the value of it regarding what Trump says, because it is Trump's property. He has placed the value to be what it is worth to him.
Suppose Trump decided to sell some property that he had given a high value in the eyes of the world. Nobody would buy it from him at that value. He would have to drop the value of it before they would even consider buying it. But that isn't what he was doing. So, he has the right to value it any way he likes.
Since the court is taking away Trump's right to freely say things like this, he's losing things. But it's about him not realizing what the basic rights are in America.
Consider yourselves and your property. You probably wouldn't part with some of your property at just about any price. The precedent that is being set is that government and appraisers can value your property no matter what it is, and for any reason. This kind of precedent is bringing us into socialism and communism. You don't own your property as much as you did before if somebody else can force you to value it like they think.
You jokers are losing it... the American Dream, that is.
What kind of wonderland do you live in?? Is your troll farm in China??
You can put whatever value on your property at the golf club or in your political meetings but
not when you are going to ask for credits based in your assets!! The accurate quantification / representation of the value of your assets and liabilities is called accounting and actually it is one of the pillars of Capitalism.
Valuations are done
at market prices when available - before you say something that further proves your ignorance, Real State valuation is done everyday and the price of land (another pillar of Capitalism) is well known and determined for the best part of Trump assets because they are placed in liquid markets. They can vary +/- 5% at most, but not by 200%. Misrepresenting that IS fraud.
The simplest example: market price of you granny's house: 1 million. The bank will happily give you around 750k backed by the value of that house because they will sell it if you do not pay. Saying that your grannie's house is 2 million and borrowing 1.4 against is fraud - read it carefully: you are committing fraud if you do that by misrepresenting information to the bank. Even if you lie in your marital status, your date of birth or in the number of credits you already have. Even the smallest of these "little mistakes" are defined as fraud.
What Trump did is the equivalent of putting Chelsea (NY) prices to a flat in Modesto, California and get business credit based on that value. I personally would also indict the banker for fraud to their shareholders for accepting it.
Edited to add: TRUMP dEPOSITION:
https://youtu.be/L_xMe80gQQIIs a bit long but, basically Trump pleads the 5th and does not answer. As he never answers for anything he does.
In any case is interesting, which is the main thing.