ELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?
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    Nomecks
    2h ago 100%

    So let's say you own an insurance company, and you want to offshore all the profits. You establish a reinsurance company in Bermuda to underwrite all your policies and charge your insurance company billions for the privilege. Now it's a business expense so it doesn't count as income for the insurance company. You have successfully offshored billions of dollars.

    7
  • Going to buy my first car soon—what brand should I choose that won’t hit me with anti-consumer practices later?
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    Nomecks
    6d ago 100%

    I have a 2024 Mitsubishi Mirage, which is really a 2012 Mirage with new body panels. It has a screen but no functions without plugging in a phone, and practically everything is implemented as non-computerized as possible.

    13
  • What technology purchase felt like a major upgrade in your life?
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    Nomecks
    6d ago 100%

    Putting more than 256MB of ram in a Windows XP machine. People think that the jump from HDD to SSD was big, but imagine Windows actively using the HDD as virtual memory. It would grind your PC to a halt. Going to 512MB made your computer feel like a Ferrari.

    6
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    196 Nomecks 3mo ago 100%
    Eat That Peach Rule
    156
    12
    196
    196 Nomecks 4mo ago 98%
    Drag Race Rule
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