More On Credit

Modeangru replies:
>>Thailand is paying 35% domestic savings rate.....how can a person take
>>advantage of this.
****
>I suppose one would take out a passbook account...If this is true it is
>alarming...but I think I'd rather be borrowing at 1.4% than lending at
>35%...interest rates reflect risk...sounds too risky to me.
>John Spiers

A passbook account, not affiliated with a business? I will check with the bank
again, since it has been 3 years since I last checked.
Seattles latest startup bank, Northwest International Bank, which raised $7.8
million in capital, is in the Metropolitan Park West Tower at 1100 Olive Way.
The bank plans to specialize in serving clients with international
connections, such as local businesses engaged in foreign trade and foreign
businesses, investors and professionals with financial interests in the
Pacific Northwest.
Jesse Tam is president and chief executive of the new bank.

35% savings. With a 4% conversion fee and 3% account fee and 8% capital gain
tax
(taken off the whole amount) another 4% conversion fee. For 1 year a person
would make only 16%. Now, wouldn't it be in a banks interest, to loan that
money out to a U.S., Canadian, or European, sister or brother company
(branch), in other foreign country's. Do we have Global Investments? Sweden
always charged a high loan interest, more so, to discourage loans.
Modeangru
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The name Jesse Tam rings a bell, any bio info on him, and is he eager to hear
from start-up biz's? (I argue in my class you may not qulaify for bank loans
for a year or two, but it is good to make the acquaintance of a useful banker
as early as possible.)
***
John Spiers

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