A well known billionaire walks into a bank and declares that he would like to take out a loan. The manager, expecting good business, invites him to his office and after much niceties and all asks how much he want.
“£ 1 ” - He says.
“Only £1?” The manager asks in surprise.
“Yes please”.
Fuming but unable to refuse, the manager says “There will be a high interest of 30%.”
Undeterred, the man pays 30 pence upfront.
Not willing to give up easily the manager asks for collateral (security).
“Sure thing” the man says and takes out half a million pounds worth of government bond, “Will this be enough?”
The manager had no option but to grant the loan. Next year, the billionaire turns up again to renew the loan.
After renewing his loan for several years, the manager could hold his curiosity no longer and begged him to tell his secret. Can you guess what is it?
2006-11-19 07:20:55 · 11 answers · asked by netwalker01 3 in Entertainment & Music ➔ Jokes & Riddles
Would you like the answer now or later?
2006-11-19 08:09:09 · update #1
Yahooligan is quite right.
His explanation was as follows: “You see, I needed a safe place to keep this government bond. Now the rent of a safe is £18 per year. Besides if it’s broken in, I might have problem proving that I had half a million pounds worth of bonds there. Now in this way, you were kind enough to make the documents for me which clearly states that the bank is holding my bond, so this is way much safer, and all I am paying is 30 pence per year.”
2006-11-19 08:16:28 · update #2
It cud be that the businessman was bound on a long trip to a foreign land , and , wanted to place something of his, of high value, in safe hands back home. So he decides to pledge that thing for a measly loan amount in the bank, effectively reducing the rent he needs to pay a caretaker for looking after the object.
2006-11-19 08:06:00 · answer #1 · answered by yahooligan 1 · 1⤊ 0⤋
I think Yahooligan has the gist of it.
This is basically a way of getting the bank to store the Government bonds (note not cash which would earn interest), for 30p per year. Safe secure storage for bonds would cost much more than this. The loan is merely the mechanism to bring this about.
Avarice and greed, we know it well. The love of money is, after all the.....
2006-11-19 08:13:03 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Good Credit
2006-11-19 07:23:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Does he scent effective? hahahaha! on no account, yet he feels like he's kinda lovable! Ever seen Harry and the Henderson's action picture! Harry kinda regarded like what your are describing! and that i could say, I enjoyed Harry! :))))
2016-11-25 19:57:01 · answer #4 · answered by ? 4 · 0⤊ 0⤋
He's not moneylaundering or anything, is he?
I'll have to come back after a while! I want to know what's up!
2006-11-19 07:23:57 · answer #5 · answered by Lady Ettejin of Wern 6 · 0⤊ 0⤋
Is it free security of his bond ?
2006-11-19 07:47:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
he is trying to pay off past loans?
2006-11-19 07:41:44 · answer #7 · answered by Nick M 1 · 0⤊ 0⤋
even hes a loony or a investing his money
2006-11-19 07:54:11 · answer #8 · answered by becky c 1 · 0⤊ 0⤋
needs somdeep thinking here
2006-11-19 07:33:27 · answer #9 · answered by SH1T 3 · 0⤊ 0⤋
well its like this ehhhh
2006-11-19 08:01:26 · answer #10 · answered by Anonymous · 0⤊ 0⤋