4% Interest (Mongolian Banking)
01-08-2014, 01:17 AM
One germane fact to remember when depositing money in any bank (especially foreign banks) without FDIC insurance. Your deposit is treated as an unsecured liability by the bank. Big deal from a financial/legal perspective. If the bank collapses, etc you are an unsecured creditor (bottom of the structure) when it comes to recouping your deposit--meaning you will get pennies on the dollar.
The better investment seems to be Mongolian real estate. Sam Zell (the smartest real estate god out there) has been buying up commercial properties in Mongolia because of its great growth prospects due to the China connection.
The better investment seems to be Mongolian real estate. Sam Zell (the smartest real estate god out there) has been buying up commercial properties in Mongolia because of its great growth prospects due to the China connection.
He has often been called the "Last of the Romans"
"We have prostitutes for our pleasure, concubines for our health, and wives to bear us lawful offspring."--Demosthenes (384–322 BC), Red Pill Greek Statesman