I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
Scout said:
I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
I’ll split that with you … I only need 10k!
Scout said:
I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
I’ll split that with you … I only need 10k!
Weird how the rich don’t loan out their massive amounts of money to the poor with the bank limiting their purchases until their first 10 interest payments, then a trickle afterwards like a conservatory move. Brittney Spears style.
Keep the poor from ruining their lives with too much money and give them that unlimited money faucet that others enjoy.
@Scout
I know, right! It’s not like we’d do something stupid like get caught up on bills or pay off a house or those pesky student loans they don’t have because mummy and daddy paid their tuition! We don’t need it at all!
Heck, I’d GLADLY pay high interest if they would loan me enough to pay it all off. I could afford to then. This is why I KNOW it’s on purpose. They LIKE that it keeps us ringing the toilet bowl.
@Sky
Everyone says they’ll be responsible with money. Hardly anyone is if they get it all at once.
Hale said:
@Sky
Everyone says they’ll be responsible with money. Hardly anyone is if they get it all at once.
Hmmm, if you say so.
@Scout
The rich don’t even spend their own money. They take out loans against their wealth and assets, and let their already absurd wealth build even more.
Fifer said:
@Scout
The rich don’t even spend their own money. They take out loans against their wealth and assets, and let their already absurd wealth build even more.
Facts.
Fifer said:
@Scout
The rich don’t even spend their own money. They take out loans against their wealth and assets, and let their already absurd wealth build even more.
So if you have assets worth 10 million dollars you can ask a loan of 10 million with 3-5% interest?
@Haze
Typically the loan is less than the collateral you’re leveraging is worth. More like a 5m loan against a 10m asset. Closest we poor get is title loans and cash advances.
Harlan said:
@Haze
Typically the loan is less than the collateral you’re leveraging is worth. More like a 5m loan against a 10m asset. Closest we poor get is title loans and cash advances.
How do they get smaller % interest on those loans?
@Haze
Perceived risk. If the bank is taking on a risky investment, they charge more so they at least get something if the deal goes bad. If it’s a safe bet, lower interest incentivizes clients to do business with them vs another bank.
If someone only needs $20 but they’re willing to let you keep their car if they don’t pay you back, that would be a no-brainer since you either get your $20 back or something worth way more. If someone wanted to borrow $20 and only had a paperclip then I’m gonna need some more interest to make that risky venture interesting and worthwhile to me.
@Harlan
Makes perfect sense! Thanks.
@Haze
On top of that, if they invest their money, they’re getting higher interest rates on their returns.
Scout said:
I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
What would you do with 10K?
Scout said:
I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
What would you do with 10K?
Credit debt of course. Less interest payments the better.
Scout said:
I just need a million dollars to hold for a while to generate some good interest payments then I’ll give it right back.
Even uncle Buffet said he’d need just 1m to (ahmm) start over in today’s world. I’m pretty confident I could turn $500k into 2M in just 4 months, not that difficult once you understand the game. Simple.
@Bran
If you can 4x 500k in 4 months then you can 4x 50k.