Tag Archives: loans

THE TRUTH ABOUT QUALIFY+

Do I Qualify

Qualify: v. to have the righta requirements for a position of authority and/or for a task(s)

If you have the right requirements for a job or task then you qualify for it.

However, qualifying may not mean immediate acceptance because there are other things like gut feelings and unknown personalities which enter the picture in any delegation of authority.

You may qualify for a position objectively but subjectively you may be turned down because you don’t radiate the right vibes or you have some personality quirks which turn humans off and make them dislike you or cause some fear.

Humans with a bad credit history often have a hard time qualifying for credit cards or car loans at reasonable rates and without good credit or a good job a mortgage loan is next to impossible to get and you basically don’t qualify for it.

If you liked this evergreen truth blog then read more of them, about 1800 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

THE TRUTH ABOUT USURY+

usury1

Usury: n. charging more than 10% on a loan and being guilty of extortion

Usury must have a numerical percentage limit on it or the word usury has no meaning and should be terminated as a word.

Sure, you can say that a potential customer has a risk factor greater than 10% so it makes sense to lend money at more than 10% interest. Yes, but what if the customer risk is 90% then should you lend him or her money at 90% interest? The answer is definitely no and if the risk factor is greater than 10% then no loan should be made to that customer by law!!!!!!

Whether the loan is for a day, a week, a month, or a year, more than 10% is a usurious rate and should be forbidden by law!!! Most credit card companies are usurious enterprises and should be regulated severely by the government to no more than 10% on a credit loan! That is true justice and not the sky is the limit philosophy on usurious rates of return!!!!!!

 If you charge more than 10% on a loan then you are a loan shark and should be fined and/or imprisoned accordingly!!! You are guilty of extortion or taking advantage of  or injuring the financially desperate!

If you liked this evergreen truth blog then read more of them, about 1600 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

THE TRUTH ABOUT CREDIT DEFAULT SWAPS+

Credit-Default-Swaps-2000-2012

A credit default swap, CDS, is a form of insurance against a loan default. The seller of the credit default swap insures the buyer of the swap that he or she will be compensated for the face value of the loan or a percentage of it if the loan defaults.

The problem is that there are even CDS’s which are not backed by any collateral on a loan and are truly high risk swaps on intangible assets which may be paper assets only. Effectively a loan on nothing or a fraudulent piece of paper.

A financial institution can create a counterfeit phony bond loan with an interest rate return which may be paid for a few years just to make it seem legitimate, sell it to a buyer who in turn insures it with a CDS given by a private investor or other financial institution which is left holding the bag when the loan defaults with no collateral backing it. A real Ponzi scheme with the issuer or seller of the CDS left with a total loss when the loan defaults as it inevitably will.

In 2007 CDS’s were at 62 trillion dollars and have fallen to 25 trillion dollars in 2012. CDS’s are high risk gambling and are another potential area which can cause a liquidity crisis if massive loan defaults occur.

Lack of transparency or not having all the necessary information is the real problem where humans make investments based on trust of a financial institution and not knowing whether the loan is truly legitimate or not.

If you liked this evergreen truth blog then read more of them, about 1300 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

THE TRUTH ABOUT COLLATERALISED DEBT OBLIGATIONS+

cdos

Banks and other financial institutions give loans secured by a tangible asset or collateral such as a home or car. This is a collateralised debt obligation CDO. They then sell that security or loan to other financial institutions.

Everything is fine until the loan becomes very risky with high interest rates, overvalued assets, and given in great volume resulting potentially in massive defaults when the loans can’t be paid back.

The subprime mortgage lending frenzy to bad credit risks led to such high interest overvalued risky lending and when the loans could not be paid back during a financial setback many huge financial institutions were left holding the overvalued assets which triggered massive defaults causing a liquidity crisis for them and ultimately caused the financial depression in 2008 because other risky loans also started to default in huge amounts for other financial institutions.

If you liked this evergreen truth blog then read more of them, about 1300 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/