Ok, pretend i am trying to sell Ted a bike....
i say "I think the bike is worth 5k"
Ted looks at the model of that bike, as new (on froogle, or something similar), and says, "it is only worth 1000, using intrinsic value"
I whisper a secret to Ted (which i will disclose later - the extrinsic value).
Ted hands me 5k. he is happy with the purchase. (assume i was able to offer Ted proof of the extrinsic value).
This is similar to the Trump case where he is charged with inflating assets\property for his loan, which is weird, the lenders were happy with this value Trump stated for his properties.... the lenders were paid back, only the State of New York had a problem, during an election year, not during the year of the transaction.
So now, in 2024, i want run for a political spot in New York, i have right wing policies, and i am polling well..., but word has gotten out about this bike transaction. both parties were happy with the transaction. But now the Government wants me to go to jail for this transaction?
is that fair?
Ted, why did you buy the bike off me (hypothetically)? What extrinsic value would it have?
others are welcome to guess....
Last edited by coderanger; 03/22/2024 03:54 AM. Reason: more detail, fix typos