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April 11, 2015
A recent development in America among the superrich, is the benign disinheritance, as practiced by Bill Gates, Warren Buffett
and others of their ilk. All I can say is I sure hope so.Gates and Buffett are worth close to one hundred billion between them, both are rather nerdy and totally uninteresting, and have made disproportionate amounts of money compared to those who work for them. When they announce they will leave no money to their children it’s a bluff and a publicity stunt. Even one fiftieth of their fortune, will make their children billionaires, so who do they think they’re kidding? -- Landed Fortunes
Posted by gerardvanderleun at April 11, 2015 11:01 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
Today money has no real value only what is given to it. Witness the "strong dollar" or the "weak Yen" and so on with other currencies. None are backed by a hard currency.
Fiat money is nice when you want to tell your kids you're the richest person in Peru or outer Mongolia.
Witness what happened in Wiemar Germany and Zimbabwe.
Cowrie shells next?
Posted by: Vermont Woodchuck ![[TypeKey Profile Page]](http://americandigest.org/sidelines/nav-commenters.gif)
at April 11, 2015 2:56 PM
"I will leave enough of my fortune to my children for them to do something. But not enough for them to do nothing" -- Andrew Carnegie.
Posted by: plus.google.com/104841162830331053592 at April 11, 2015 4:45 PM
I'm just trying to stretch it enough so my kids won't have to support me down the road. So far so good.
Posted by: BillH at April 12, 2015 6:53 AM
I'm with you, Bill. My cancer is eroding what modest savings I have put together.
I will consider myself lucky just to break even by the time I die. My offspring might well inherit debt rather than any nest egg.
"Fortune"? Haw haw, that cracks me up.
Posted by: chasmatic at April 12, 2015 9:31 AM
Money has a whole nuther characteristic when you have as much as they, that is completely foreign to everyone on this board. At some point it starts to work against you. I know a guy that makes enough money that he has to spend about $350k every damn year for new personal vehicles for his family in order to not have it stolen from him.
Posted by: ghostsniper at April 12, 2015 5:37 PM
Matthew 6:19-21 (NKJV)
19 “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal;
20 but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.
21 For where your treasure is, there your heart will be also.
Posted by: chasmatic at April 12, 2015 10:34 PM
"The chief value of money lies in the fact that one lives in a world in which it is overestimated." ~ H.L. Mencken
That hasn't changed at all. You can only live in one room at a time, wear one set of clothes at a time and there is never a U-Haul truck in funeral procession.
Posted by: Vermont Woodchuck at April 13, 2015 6:01 AM