On Friday, October 10, 2003, at 07:53 AM, Danny Van den Berghe wrote:
In fact we could as well say that the interest this person pays is in fact
rent he pays to use the item until it becomes his own at the end of the
contract.
Ah, now I have given you a great business idea how to offer consumer credit
in Malaysia without using the word interest.
And there is no question about compounding interest, because you only pay
rent (interest) on the portion of the item that is not yet paid for.
I bet Robert B.Z. could make this work. Anyone who can bring that dairy cow time-arbitrage deal to fruition is one heck of an entrepreneur.
Thanks for an exceptionally civilized discussion.
You see it is possible to talk about things without calling each other a
"thug" as soon as there is a disagreement.
And with more fruitful results.
It seems that Jim defines "thug" as an individual who advocates or participates in the initiation of force against others.
-- Patrick
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