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Is THIS the Shady Reason Joe Biden Keeps Refinancing His Home?!

A report has come out in the Daily Mail that claims, “Joe and Jill Biden have been using their Delaware house for fast cash - refinancing 20 times with loans totaling $4.2 million since buying the $350k home.” That’s a little weird, Glenn says. Why would the Bidens do that? And also, how did the Bidens – a career politician and a teacher – amass a reported $10 million net worth? Well, Glenn decides to see what ChatGPT has to say about this. Why would someone do all this refinancing…if it were a TV show, of course? Well, A.I. gave quite a telling answer …


Below is a rush transcript that may contain errors

GLENN: So, Stu, you're -- you know, you like to play around with money and look for different ways of -- of, you know, financing and everything else.

See if this makes any sense to you. Joe Biden and First Lady Jill have been using their home as an ATM, taking out multiple mortgages and refinancing their Delaware property, an astonishing 35 times.

The president has lived in two houses in his home state, since 1975, when he bought his first property in Wilmington, that he later sold in the 1990s. But records obtained by show the couple have a habit of negotiating a new mortgage or credit deal on both homes, every 17 months.

Over the decades, the Bidens have borrowed a total sum of $6 million on both properties.

There's still an outstanding $541,000 mortgage on their current three-bedroom four-and-a-half Wilmington mansion nearly 30 years after they bought it. The constant refinancing raises the question of, why?

Why the Bidens who have a reported net worth of $10 million need a constant flow of extra cash?

It doesn't make a lot of sense, says financial experts.

Unless, they're desperate for cash. The revelation comes as questions grow. The president's involvement with his son Hunter's shady business dealings.

According to the mortgage documents, the president and First Lady purchased their current 4-acre lot for $350,000 in 1996. But have since saddled it with 20 different home credit agreements and mortgages. Totaling $4.23 million.

Their previous five-bedroom, two and a half bath home in the same town was purchased for 185,000 in '75.

It sold, strangely, controversially, for $1.2 million in 1996 by the head of one of the biggest employers, in Delaware.

Records show the property had a total of 15 mortgages and lines of credit, attached to it.

The Bidens also owned a summer home in Rehoboth Beach, which they scooped up in June of 2017 for $2.7 million.

The property has no mortgages attached to it yet. It was revealed last year to have been a cash purchase.

Hmm. The property data suggests the 46th president and his wife '73 have needed money fast, and used their homes as equity, as the main source of credit over the year. However, listen to this line.

However, Biden a career politician and Jill, a college professor, are worth an estimated $10 million. Now, how is that?

STU: That's so weird.

GLENN: That is weird. Yeah. That is weird.

He says, it's from book deals. However, there's no -- there's no record of him ever getting payment, except for the signing bonus.

Because nobody reads the books.

STU: Yeah. It's fascinating. Because everybody who has way more money, than they're supposed to have. And, you know, writes books, claims their money came from book deals.

And everyone else, who actually writes books and knows anything about the book industry, knows it can't possibly be true.

It's something people say all the time. If you're in the book industry, you know the mechanics of it. It's not -- we've gone through multiple contracts with it. It can be a good business. You can make some money on it.

But the numbers, at the end of the day, wind up coming out of that, are only incredibly good, if you're selling, you know, millions of books.

Like, it's not. It's not something like, oh, well, I sold 25,000 books. And now I've made $4 million. That's not the way the book business works. It's hard to sell books these days. People don't like to read all that much. I don't know if anybody noticed a country lately.

GLENN: Right. And I don't think that anybody is reading a Joe Biden book.

STU: Right. And we know the sales of these books. Joe Biden books do not sell well.

Yes. He gets sweetheart deals, as you mentioned, Glenn. With the signing bonus. It's much bigger than he could ever sell out. He doesn't ever earn a dime more.

Because everyone knows going in, what you're paying for. You're not paying for book deals with someone like Joe Biden. You're paying for, you know, some sort of marquee name. You're paying for God knows what kind of influence.

All these other things, that are associated and totally separate from him selling enough books to pay off in advance.

GLENN: Books. Yeah. So why does he need all of this money? Why does he need all this cash? Now, I mean, I could have noodled it out.

But I'm not ChatGPT. I don't have access to all information. So I ask ChatGPT. Said, I'm writing a television show.

And I have some questions. In this television show, the president is mortgaging his home over and over and over again and gave him -- you know, gave ChatGPT some of the facts. Didn't fill everything in. And then said, oh. And also, he has had loan repayments, where there are no loans. There's no record of any of the loans.


And he repays these loans to his family. And the family repays loans to him. Okay?

So this is what ChatGPT came up with.

And I think I want to start with the least likely number five.

Gave me five reasons, someone would do this.

You know, for the TV show.

Debt manipulation. Constant refinancing, can be a method to manipulate debt and create the appearance of legitimate financial activity.

This could help in justifying the large sums of money received and repaid.

Reason: The president uses refinancing to take out large sums of money, which are then cycled through as repayments to family members. This creates the facade of debt management.

Making it appear, that the president is simply managing personal debt. Rather than engaging in any illicit activities.

According to ChatGPT. Number four. Tax evasion. Refinancing can provide a way to manipulate taxable income and avoid taxes on illicit funds.

By cycling mortgages, the president could claim interest deductions and reduce their overall taxable income. Reason? The interest payments on the refinancing mortgages can be deducted from taxable income, effectively reducing the president's tax liability.

The repayment to family members can be structured in a way that avoids declaring the foreign income, further aiding in tax evasion.

Number three. Hiding assets.

Frequent refinancing can be used to mask the true financial status and hide assets from investigators or regulatory authorities.

This can help in evading detection of illicit funds. Reason? The president uses the equity extracted from the refinancing to pay off family members, who then transfer the funds back as loan repayments.

This cycle hides the actual wealth, and the source of the funds. Making it seem like the money is tied up in legitimate debt, rather than illicit gains.

By the way, so far, nothing non-nefarious. ChatGPT didn't come up with a single non-nefarious reason. Two, creating a paper trail. Mortgage cycling can create a complex financial paper trail that makes it difficult for investigators to track the true source, and destination of money. This can also help -- hide illegal financial activities.

Reason. By refinancing frequently. The president can create a maze of financial transactions, that obscure the flow of money.

The complexity can make it harder for authorities to detect the link between the foreign payoffs, and the repayment made to family members. Number one, this is ChatGPT's number one reason for having, you know, 17 mortgages. And keep taking out large sums of money. And remortgaging your house, 17 times.

Frequent refinancing of mortgages, can be a method to launder illicit funds.

By continually cycling mortgages, the president could introduce large amounts of cash, into the financial system. Under the guise of legitimate loans.

Which are then repaid using money received from foreign payoffs.

Reason, the president receives large sums of money from foreign entities, through family members.

To legitimatize these funds. They are funneled into mortgage refinancing process.

The constant refinancing, and the large checks written for loan repayments help disguise the origin of the funds. Making them appear as legitimate financial transactions.

That's ChatGPT's opinion on why you might do what the Daily Telegraph has just revealed what the Bidens do.

STU: If you asked it, and put in Biden's name. It probably wouldn't give you any answer. You would have to write it in a way.

I'm writing a movie script. To get an answer to that.

GLENN: Correct. And looking for legitimate reasons why you would do this.

Why would a character do this?

17 times?

35 times, overall. But on one house, 17 times.

Why would -- why would that happen?

Well, that's what ChatGPT came up with.

STU: Right. And like, there are reasons to do it. I guess, if you're -- as the rates are falling, right?

You might renegotiate your mortgage. Like, I redid my mortgage, when rates were low, right?

I did it once. Maybe you can even think, potentially because they fell so far from where they started. Maybe you do it twice, right?

But you don't get from 35 with low interest rates. You don't get to 35 with an approving credit score. You don't -- there are reasons you might do it more than once. You don't get to 35.

Maybe -- what's interesting. Let's say, you are a person who has -- if you're Joe Biden, you have $10 million. And let's say, that's locked up in -- you know, in investments.

I don't know.

GLENN: He says, it's pension, book sales, and investments.

STU: Right. So let's say you bought Nvidia stock, and it's gone up a lot. And you don't want to sell it, and take the tax hit. To access the money, you can take some of the equity out of your house to spend. The issue of that. You can't just keep doing it. You have to pay it back each time.

Which means you have to have an influx of cash to keep paying off those borrowing --

GLENN: Yeah. He would pay them off sometimes in months. Sometimes in a year. He would take out, you know, a million dollar loan. And then pay it off within the year.

Excuse me?

On a teacher's salary. And a public servant. Huh!

STU: I know. And, by the way, Glenn, I just want to point out the hypocrisy for a moment of a man who says he's got $10 million in investments and doesn't want to pay the taxes associated with the gains.

Right? Like, he's just avoiding the exact types of taxes he's proposing, and trying to implement on everyone else. And saying everyone else is skipping out on their taxes. He's doing the exact same thing. And that is the best-case scenario, here.

GLENN: Of course. I know. I know.

STU: The real truth seems to fit precisely with what we suspect Joe Biden is doing with his family members, when it comes to essentially, allegedly, laundering money through international sources.

GLENN: That's why these people in Washington, DC, say they're going after the rich. They don't mean it. They don't mean it.

They don't mean the really rich and connected rich. They won't ever tax those people. They mean you. They mean the person that has just started a business. And starting to turn those things around. Those are the people that they're really after. They will never go -- as Donald Trump said, look, you don't like the amount I pay in taxes? Then change the laws! Okay?

He knows. Rich people can play the games of avoiding taxes. And they can shelter their money and everything else that helps them. They can do the things that Joe Biden did. In the pest case scenario. From ChatGPT.

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