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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 362.32

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Nov 4 4:00 PM EST

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Pogeu Mahone

To: TobagoJack who wrote (126594)	12/20/2016 3:43:52 AM
From: Snowshoe	2 Recommendations Read Replies (1) of 217542

>> what is the nature of china debt << Highly innovative use of collateral to secure loans... :-) ‘Nude selfies for loans’ scandal sheds light on China’s rampant underground banking scmp.com An executive with another P2P lending firm told the South China Morning Post that young Chinese consumers, who have little real assets to offer as collateral, are the main customers of online credit, which is often granted within a few hours and requires little paperwork. The students caught up in the scandal were also attracted by the speed of borrowing money if they supplied compromising pictures. “I got 5,000 yuan [HK$5,550] in loans in less than three minutes after my submission of nude selfies and videos of myself to the lender,” the China Youth Daily quoted one woman as saying. The interest rate of her loan was 27 per cent a month, according to the newspaper.

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