Someone was arguing here that rich people buy yachts with liquid funds. I was laughing hard and had to give a measured reply.

Banks prop up rich people because rich people get banking more than poor people. I have managed a rich man"s debt before and I know what I am saying.

Banks also make a killing from rich people"s companies and that is why you find that most Nigerian banks don& #39;t bother about retail lending and only just take deposits from the poor to lend to the rich. Their biggest profit pool now that government is broke is that spread.

There is a reason why most rich Africans own banks or have interests in them. That is how they get leverage.

Leverage. Learn that word if you want to be rich and remain rich. Leverage creates wealth for banks and the rich through fractional reserve lending.

Archegos was a very recent lesson.