[keepreal]

(01-22-2012 03:54 AM)bface Wrote:  

(01-18-2012 01:02 AM)rudebwoy Wrote:  

The reason why they are paying less on the US dollar is because it is a currency that is losing value, big time.

Doesn't make sense.

If they expect the US dollar to lose value compared to the Mongolian they would give more not less.

Even if you get 7% on the US dollar you will still lose purchasing power due to inflation.

14% sounds sketchy. The bank will have to make even more profit by investing that money. If it is really such a bear market, I would invest direct and not via a bank.

(Note that I am not speaking from personal experience, just read a lot. Take it's for what it's worth)

That doesn't make sense, cuz dollar inflates at 4.7% currently, u only lose purchasing power if inflation>7%. It is a gain as long they don't default or can't keep the deal. I thought that the currency of Mongolia would be inflating like more than than 14%, holy shit I checked 16.3%, it will take less 4yrs for ur money to decay to it's half of its value if it was in tögrög(their currency).17.3% growth last year, 3rd fastest in the world after ghana, which after Qatar. I think Ghana is where is at, they discovered oil field like5yrs ago, that somebody is gonna get real rich there probably like corrupt like Algeria . damn only 8.9% in ghana, but 2nd least corrupt African country if that says anything.
It would be awesome if imagine if some country money was growing like 1000%, and you got 990% on interest
But mongolia is almost entirely dependent on CHina, china gets fucked, it gets fucked. Most dependent on mines and animal products. It produces alot of cashmere, maybe should export somewhere else. I can see someone from mongolia exporting cashmere to aWestern country as a good business.

http://fixed.deposits.org/ it looks like iranian bank is the best 18%, i guess embargo has hiked up the interest rate, I wonder is transferring money harder now since the swiss shut down the electronic transfer I mean Swift?