The Seventy one Laws of Money

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Animal sacrifices still continued in the Jerusalem temple until it was destroyed by the Romans in 70 A. The Gospels often portray Pharisees as arrogant, but they were generally respected by the masses because of their piety. However, Jesus saw through them.

He scolded them for the unreasonable burden they placed on the peasants. In a scathing rebuke of the Pharisees found in Matthew 23 and Luke 11, Jesus called them hypocrites and exposed their sins. He compared the Pharisees to whitewashed tombs, which are beautiful on the outside but on the inside are filled with dead men's bones and uncleanness.

You yourselves do not enter, nor will you let those enter who are trying to. You are like whitewashed tombs, which look beautiful on the outside but on the inside are full of the bones of the dead and everything unclean. In the same way, on the outside you appear to people as righteous but on the inside you are full of hypocrisy and wickedness. They voted together in the Sanhedrin to demand his death, then saw that the Romans carried it out. I was billions of dollars in debt.

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But I fought back, and I won. Big league. I used my brain. I used my negotiating skills. And I worked it all out. The analogy to politics was palpable. But the story of Donald Trump, self-made business genius, left out any mention of the shady Russian investors who had done so much to make his comeback narrative possible. To further enhance his brand, Trump used his prime-time perch to unveil another big project. On the season finale of The Apprentice , as 11 million viewers waited to learn which of the two finalists was going to be fired, Trump prolonged the suspense by cutting to a promotional video for his latest venture.

In return for lending his name to the project, Trump would get 18 percent of the profits—without putting up any of his own money. One of the developers, Tamir Sapir, had followed an unlikely path to riches. After emigrating from the Soviet Union in the s, he had started out driving a cab in New York City and ended up a billionaire living in Trump Tower. His big break came when he co-founded a company that sold high-tech electronics.

No charges were ever filed, and Sapir denied having any mob ties.

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On paper, at least, Arif was another heartwarming immigrant success story. He had graduated from the Moscow Institute of Trade and Economics and worked as a Soviet trade and commerce official for 17 years before moving to New York and founding Bayrock.

Practically overnight, Arif became a wildly successful developer in Brooklyn. Trump worked closely with Bayrock on real estate ventures in Russia, Ukraine, and Poland.

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But Bayrock and its deals quickly became mired in controversy. Forbes and other publications reported that the company was financed by a notoriously corrupt group of oligarchs known as The Trio. In , Arif was arrested by Turkish prosecutors and charged with setting up a prostitution ring after he was found aboard a boat—chartered by one of The Trio—with nine young women, two of whom were 16 years old. The women reportedly refused to talk, and Arif was acquitted.

The lawsuit, which is ongoing, does not claim that Trump was complicit in the alleged scam. In , when he was eight years old, Felix Sater and his family emigrated from Moscow to Brighton Beach. According to the FBI, his father—who was convicted for extorting local restaurants, grocery stores, and a medical clinic— was a Mogilevich boss. Sater tried making it as a stockbroker, but his career came to an abrupt end in , after he stabbed a Wall Street foe in the face with a broken margarita glass during a bar fight, opening wounds that required stitches.

To avoid prison time, Sater turned informer. He flew to Colorado with him, accompanied Donald Jr.

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Trump seems unable to recall any of this. Two years earlier, testifying in a video deposition, Trump took the same line. The co-author of the plan, according to the Times : Felix Sater.

The international projects in Russia and Poland never materialized. A Trump tower being built in Fort Lauderdale ran out of money before it was completed, leaving behind a massive concrete shell. Trump SoHo ultimately had to be foreclosed and resold. But his Russian investors had left Trump with a high-profile property he could leverage.

The new owners contracted with Trump to run the tower; as of April, the president and his daughter Ivanka were still listed as managers of the property. In April , a little more than two years before Trump rode the escalator to the ground floor of Trump Tower to kick off his presidential campaign, police burst into Unit 63A of the high-rise and rounded up 29 suspects in two gambling rings. The entire operation, prosecutors say, was working under the protection of Alimzhan Tokhtakhounov, whom the FBI identified as a top Russian vor closely allied with Semion Mogilevich.

Tokhtakhounov, who had been indicted a decade earlier for conspiring to fix the ice-skating competition at the Winter Olympics, was the only suspect to elude arrest. For the next seven months, the Russian crime boss fell off the radar of Interpol, which had issued a red alert. Then, in November , he suddenly appeared live on international television—sitting in the audience at the Miss Universe pageant in Moscow. After the pageant, Trump bragged about all the powerful Russians who had turned out that night, just to see him.

Both the White House and the Trump Organization declined to respond to questions for this story. On the few occasions he has been questioned about his business entanglements with Russians, however, Trump has offered broad denials. The rule of 70 is used to determine the number of years it takes for a variable to double by dividing the number 70 by the variable's growth rate. The rule of 70 is generally used to determine how long it would take for an investment to double given the annual rate of return. The rule of 72 is a simple method to determine the amount of time investment would take to double, given a fixed annual interest rate.

To use the rule of 72, divide 72 by the annual rate of return.

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He wants to estimate the number of years it would take for his investment to double. Instead of using the rule of 70, he uses the rule of 72 and determines it would take approximately 7. Fixed Income Essentials. Investing Essentials. Investopedia uses cookies to provide you with a great user experience.

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