"curiosity" wrote
Did anyone notice the problem with the following statement? :-
- "Ponzi's 50 per cent promise in 45 days was doomed to early failure. At that rate, Dollars 1,000 would have turned into more than Dollars 65m within two years."
Actually, at the rate of 50% in 45 days, $1,000 would only reach about $720,000 in 2 years.
For it to reach $65m in 2 years, he'd need to promise 50% return in less than ** 27 ** days, or ** 98% ** return every 45 days!!
Yes, I suppose they are. :)
I am issuing the Arrest Warrants now. :)
Isn't the pound still something of a petro-currency? Rising oil prices should put upwards pressure on the pound I would think. It will also hae an effect on inflation. Oh dear - we need to drop interest rates because of the effect oil has on the currency but increase them to choke off inflation. Looks like we are back to stagflation at this rate.
I was surprise about B'mth as it is kind of the south-east and a friend in London told me her flat in London had dropped from about 170K to 150K over the last 12 months and the house she has just moved to has dropped from 300K to 245K over the same period.
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