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How to Become a Cambodian "Loan Shark"
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Even if Ron Paul was elected as president of the United Socialist States of America, things are about to get a whole lots worse for the average American. Because of the pure fiat currency that is currently funding the American Imperial Project, there is zero incentive for the overlords in Washington to stop the printing presses. At this point there are two forks in the road:
1. Defaulting on the debt.
2. Inflating the debt away.
Defaulting on the debt would be the honest move and the most beneficial for the macro economy, but given what we know of the ruling class in the US, inflation eventually leading to hyperinflation of the money supply is the most likely scenario. Either way, the vampire state is unlikely to release its prey without a total collapse as happened to the USSR in 1991. Opportunities for the productive population will be few and far between.
In January’s TDV Report we featured a lengthy article by Col McLaurin, a 20 year resident of Cambodia. Col describes the modernizing economy and fast rising living standards in Cambodia, and a market that is far freer than any western country. The Cambodians, having borne the brunt of mass bombing by the US Air Force during the Vietnam War and Communist mass murder during the reign of the Khmer Rouge, are wary of the state and consequently the government keeps its nose out of the lives of its citizens.
Almost every country in the world today has most of the modern conveniences that we in the west have come to expect: hi-speed internet, well stocked grocery stores, country-wide wireless phone services and a network of top class roads and railways. And, most places have many opportunities for successful business ventures.
One in particular that Col featured in Cambodia was the ability for the average person to become a lender. In the west lending and banking has been cartelized by the state and jealously guarded by them. The State is the counterfeiter in charge and will crush anyone who challenges their monopoly.
In Cambodia, monetary assets are rightly seen as private property and are treated as such, you are free to dispose of it as you see fit.
Here is a snippet of Col's write up:
BECOME A LENDER IN CAMBODIA AT INTEREST RATES OF 36%-120% PER YEAR
The private loan market is extremely healthy. This is the small loans market that runs parallel with, but outside the banks and totally private. Interest rates can run from 3% to 10% per month - that’s per month or 36% to 120% Per Annum! The Chinese love this market as they’re cut throat in extracting as much as they can. Most Cambodians usually aren’t as greedy as the Chinese. Securities can range from a piece of jewellery, a motor scooter to house deeds. These are the loans that vendors take to pay for stock that they’ll turn over quickly thus a quick pay back. Delinquency rates are low.
Anytime I’ve explained this market to western foreigners I usually hear, “I don’t speak the Cambodian language and therefore couldn’t do that”. Well the Chinese don’t speak the Cambodian language either and they do and make good money out of it. This is the difference between Chinese business acumen and western business acumen. The Chinese find a Chinese person who speaks Cambodian, which isn’t hard to do, and use s/he as a translator. I mean anyone can carry on this business if one has excess cash, or just wants to retire and have a ready income.
Subscribers know that Col went on to explain in detail how to become a lender in the Cambodian market from his own personal experiences. This is just one example of the “boots on the ground” knowledge that you can apply to your own life that we are working to bring you here at The Dollar Vigilante. In the next 48 hours we'll be releasing our February issue where we take a look at the country of Guatemala.
During the 19th century, America was the land of opportunity, open borders, night-watchman state, explosive growth productivity, rising quality of life for all and a sound money to underpin a stable economy. Now the USSA is in the late stages of empire, obsessed with control, frightening the domestic population into subservience and criminalizing everyday life.
There is a world out there who wants you to work hard and prosper and will celebrate your success. The US is the new offshore... look to go onshore for opportunities worldwide. If I were a young go getter I'd run, not walk, to places like Cambodia and Myanmar (we had an in depth report on Myanmar in the December issue of TDV).
If you try to lend people who voluntarily want to borrow from you at 36-120% per year in the western world you will be called a "loan shark" and you will be kidnapped and put in a cage. If you do it in Cambodia, you make happy a borrower who had no other means to access capital and you get rich in the process.
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