Economic Meltdown Fun!!
Over the years, I've had occasion to need varying amounts of cash to finance, at first, the necessities of life - home, transportation, etc., then comfort stuff. Yes it came at a premium in the form of interest but I'm going to die someday, so there was no time to waste. All good.
Now it came to me the other day, in the midst of my stuff, that holy-moly!!, I can save the world from financial ruin! I call it the Wayne Bowness Reverse Banking system. An acquaintance of mine, perhaps a tad more opinionated than I, sees it as the Bend The Banker Over Recovery System.
Here's how it works. I will borrow, say, 9 Trillion Dollars from lending institutions around the world at 3%, and lend it back at 2.75% for a period of one year. The 22.5 Billion in interest receivable will look great on their Balance Sheets and buy them enough time to devise a strategy to get out of the current financial mess. Once the global economy stabilizes, a provision in our agreement will forgive the 22.5 Billion interest payable, and a fee for my services rendered in the amount of ,oh, 22.5 Billion will be forthcoming. Best of all, I won't ask for a penny in performance bonuses which will set a new standard for our Banker and Investor friends at 'bon bon' time. And think of it; I'll still be your Real Estate Agent too. How good is that? Props to you!!
I won't be as rich as Bill and Warren but I'm pretty sure I can convince Tiger to hook up with me for a little best ball against those guys.