Dear Adam, >Your Philippine plastic marker can go to a bank and get a secured > loan at 10-15% per annum, it can get an unsecured loan at 15-20% per annum, it > can go to private lenders for 20%-25% per annum, it can go any number of > additional places.
When exactly have you talked to a Philippine bank for a loan the last time? When you did, where you [1] a small trader, [2] a struggling exporter, [3] someone who had contacts to foreign buyer going nuts over unreliable deliveries of a multitude of local suppliers? We just bought some low-cost rentals outside Manila. Finance offers ranged from 20% to 38% per annum, compounding on USD basis. This is a mortgage we are talking about. Of course, as always we paid cash, much to the dismay of the developer. And no, unless he doesn't need the money, there is no way anyone would give a small exporter with big plans money, unless he has colateral coming out his ears and doesn't really need the money. The alternative is to go to a money shark of course - at 10-20% compounding PER WEEK !!! > There is a market for money. People don't pay more for money that the going rate on > the market. I beg you show me the market in Asia that serves the public mom-and-pop types of outfits, rural farmers, small traders, etc. We'll be Gazillionaires overnight! I mean serious, especially the Philippines is the worst possible of the example I gave to contest. The Peso is as unstable as it gets, politics are in disarray, infrastructure in disrepair and you seriously think that a bank would give anyone a Peso based, unsecured loan for 20% per year? As always, there is a huge difference between the people from the ivory towers of capital cities and the populace that feeds them. In Asia this difference is so extreme that often the upper class of the country doesn't realize it while they live their guraded lives of golf courses and cocktail parties. A few years ago, I met an Indonesian business man in an airport lounge who got violently offensive when he heard that I was paying the crew of two small coastal trawlers about $200 per catch day. He accused me of heaven knows what until some guy a few tables away came over and told him that I was paying 15% above norm ... So Adam, I fear, you may not be qualified to judge the situation in Asia for lower middle class types who MUST pay out immense profit shares, just to get any money at all. I mentioned the example of an Indian village where farmers were starving during droughts some time ago. We had syndicated micro loans to help them buy dairy cows - one per household. The loans carried a huge interest burden but the revenues where twice bigger. Everybody paid back their loans on time, ended up owning the cows and had enough left over to buy a second. We made a modest 150% syndication fee and the local handlers made somewhere about tenfold. Tenfold our investment that is. They had no own money to begin with, but set up a dairy processing plant from their share of the proceeds. Trust me, we could have squeezed them to pay 500% and they would have still been happy because everybody involved profited and improved their lives. Just imagine someone like us would start a HYIP that pays 10% per month... PLEASE don't email me privately anymore!!! We do not, nor will we ever funds from the public. We do not, nor will we ever operate any HYIP programmes and we won't invest in any HYIP either. To bring this whole line of discussion to an end, if you beg to differ, so be it. If you have actual, contructive comments, plese start off with giving us a run down of who you are, where you've been and what you've been doing. We'd love to hear from workers of UN development programmes for example :o) Cheers, Robert. budget & privacy website hosting http://www.cyberica.net budget & privacy domain registrations http://www.u2planet.com --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
