Dear Sim
- Thread starter Tandella
- Start date
nat r said:
"An amazing invention, but who would ever want to use one?"
U.S. president Rutherford Hayes, after participating in a trial telephone call between Washington and Philadelphia in 1876.
"Everything that can be invented has been invented."
Charles Duell, commissioner of the U.S. Office of Patents, urging president William McKinley to abolish his office, 1899.
"There is no likelihood man can ever tap the power of the atom."
Robert Millikan, Nobel Prize winner in physics, 1920.
"Who the hell wants to hear actors talk?"
Harry Warner, Warner Brothers, 1927.
"I think there is a world market for about five computers."
Thomas J. Watson, IBM chair, 1943.
"Television won't hold on to any market it captures after the first six months. People will soon tire of staring at a box every night."
Darryl Zanuck, head of 20th Century Fox, 1946
"640K is enough for anyone."
Bill Gates, Microsoft chair, 1981.
"There is no reason for any individual to have a computer in their home."
Ken Olsen, president, Digital Equipment, 1977.
Nat,
Wasnt there a period in history where everything we take for granted now was actually "pie in the sky"? You dont think splitting the atom and putting a man on the moon were a little harder to conceive at that point in time than what Derivex is currently offering? Since when did any person or civilisation progress by approaching things with a closed mind?
Jamie.
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jamie...I'm sorry but cliches like that are meaningless.
Keep in mind all the quotes you use were related to the potential size of the market not the reality of whether an invention worked.
Nobody doubts the size of the potential market for an interest free loan....just the better educated or more informed amongst us (including ASIC) know that the concept is fanciful and does not work.
Have your ever heard of a Pepetual Motion Machine...they work on the same basis as the Derivex fudning model but unfortunately suffer from similar problesm. There was a book written by Thomas Pynchon called "The crying of Lot 49" which explored this in more detail.
Can I suggest you do some private study on Future Value, Present Value, Interest Compounding, Cross Currency Swaps and Risk Free Rate and then review your thoughts.
Only trying to help you build your knowledege !!
Nat
Keep in mind all the quotes you use were related to the potential size of the market not the reality of whether an invention worked.
Nobody doubts the size of the potential market for an interest free loan....just the better educated or more informed amongst us (including ASIC) know that the concept is fanciful and does not work.
Have your ever heard of a Pepetual Motion Machine...they work on the same basis as the Derivex fudning model but unfortunately suffer from similar problesm. There was a book written by Thomas Pynchon called "The crying of Lot 49" which explored this in more detail.
Can I suggest you do some private study on Future Value, Present Value, Interest Compounding, Cross Currency Swaps and Risk Free Rate and then review your thoughts.
Only trying to help you build your knowledege !!
Nat
It's high time that people realise that loans without interest are just pie in the sky', Mr Tanzer said.
Additional Funding to Expand Interest Free Loans Scheme
21/05/2004
At the annual No Interest Loans Scheme (NILS) Forum in Melbourne today the Minister for Family and Community Services, Senator Kay Patterson, announced extra funding of $50 000 to employ a National Co-ordinator who would work with the 75 NILS providers across Australia.
Im confused
arent these both Govt departments, surely ASIC wouldnt make such a broad sweeping statement if it wasnt true?
Nat?
Additional Funding to Expand Interest Free Loans Scheme
21/05/2004
At the annual No Interest Loans Scheme (NILS) Forum in Melbourne today the Minister for Family and Community Services, Senator Kay Patterson, announced extra funding of $50 000 to employ a National Co-ordinator who would work with the 75 NILS providers across Australia.
Im confused
arent these both Govt departments, surely ASIC wouldnt make such a broad sweeping statement if it wasnt true? Nat?
This is funny! A thread about Sim pulling Derivex threads has turned into another debate on interest free loans, somebody stop it!!!!!......its outta control!!!
ps: Guys, have to get up early to stay ahead of NatR, who if she did have a vested interest in all this (which Thommo has been calling for her to disclose) would hardly be debating about it on a property investment forum. I would think there are much bigger fish to fry.
ps: Guys, have to get up early to stay ahead of NatR, who if she did have a vested interest in all this (which Thommo has been calling for her to disclose) would hardly be debating about it on a property investment forum. I would think there are much bigger fish to fry.
great forum
These threads, and the the brainstorming that comes with it, have been the only area where this HUGE THING has been debated. Stopping the debate because it offends a few peoples sensibiities of order and structure is - well - the moderators prerogative.
I agree the forum needs characters....good onya nat!!
These threads, and the the brainstorming that comes with it, have been the only area where this HUGE THING has been debated. Stopping the debate because it offends a few peoples sensibiities of order and structure is - well - the moderators prerogative.
I agree the forum needs characters....good onya nat!!
nat r said:
But it is an Interest free loan is it not?
Thanks Nat I know exactly what these loans are for but where in your post do you mention that the ASIC comment THAT ALL INTEREST FREE LOANS ARE PIE IN THE SKY state that it is relation to car or home loan? I know what the ASIC story was about and it has nothing to do with Derivex.
And you are so funny haha stay up all night..
you crack me up 'As people continue to borrow more, ASIC is seeing more schemes like this being advertised. It's high time that people realise that loans without interest are just pie in the sky', Mr Tanzer said.
Note: before you start into me, I don't write what is on the ASIC site ....I just understand it.
Nat
Mr Tanzer has obviously never heard of islamic mortagages.........
Nat, do you have some peice of evidence or knowledge we don't?. Because I don't see how anyone here can conclusively say whether Derivex is worth its salt untill we see a PDS (product disclosure statement) and know the details of the loan.
Gaz...do you actually realise how the islamic mortages work in terms of interest compounding and the zero coupon effect ....or are you just firing from the hip here??
Likewise a PDS can say what ever it wants, that doesn't mean the product works ....would an instruction book for a time machine make you belive that there is such a thing and futher more that it works??
As a kid did you ever write to Santa Clause telling him what you wanted ???...do you still think he is real because the presents turned up on xmas day??
I'm running out of ways to simply explain that the underlying principals of the product do not work.
Likewise a PDS can say what ever it wants, that doesn't mean the product works ....would an instruction book for a time machine make you belive that there is such a thing and futher more that it works??
As a kid did you ever write to Santa Clause telling him what you wanted ???...do you still think he is real because the presents turned up on xmas day??
I'm running out of ways to simply explain that the underlying principals of the product do not work.
Getting back on the track of this thread, I have been a forum member for a few years. In that time I have had several comments/postings/pictures even my signature things "pulled", most of these I believe have been extremely over sensitive reactions IMHO. If this forum was a public service and financed by the governement I would have been outraged by it.
However Somersoft forum is a private entity it's existence is due to Jan and Ian Somers and of course the moderators efforts, so they can pull, push, edit, delete anything they like. Nobody hear can stop me setting up my own forum and enable people to abuse, defame and slander as much as they see fit for as long as they want. So we have a choice to accept dare I say a
benevolent dictatorship or start our own dictatorship. However looking over at the "dark side" www.propertyinvesting.com, it just isnt as good or as "nice" as Somersoft.
BTW I will start a thread on the possiblity of interest free home loans, in which the "D" word is prohibited
However Somersoft forum is a private entity it's existence is due to Jan and Ian Somers and of course the moderators efforts, so they can pull, push, edit, delete anything they like. Nobody hear can stop me setting up my own forum and enable people to abuse, defame and slander as much as they see fit for as long as they want. So we have a choice to accept dare I say a
benevolent dictatorship or start our own dictatorship. However looking over at the "dark side" www.propertyinvesting.com, it just isnt as good or as "nice" as Somersoft.
BTW I will start a thread on the possiblity of interest free home loans, in which the "D" word is prohibited
always_learning said:Getting back on the track of this thread, I have been a forum member for a few years. In that time I have had several comments/postings/pictures even my signature things "pulled", most of these I believe have been extremely over sensitive reactions IMHO. If this forum was a public service and financed by the governement I would have been outraged by it.
However Somersoft forum is a private entity it's existence is due to Jan and Ian Somers and of course the moderators efforts, so they can pull, push, edit, delete anything they like. Nobody hear can stop me setting up my own forum and enable people to abuse, defame and slander as much as they see fit for as long as they want. So we have a choice to accept dare I say a
benevolent dictatorship or start our own dictatorship. However looking over at the "dark side" www.propertyinvesting.com, it just isnt as good or as "nice" as Somersoft.
BTW I will start a thread on the possiblity of interest free home loans, in which the "D" word is prohibited
You should try the free-for-all using usenet newsgroups. Absolutely no holds barred on the unmoderated newsgroups and the moderated ones are only a little better (or worse depending on your view). Lots of fun but not for the thin skinned.
always_learning said:Getting back on the track of this thread, I have been a forum member for a few years. In that time I have had several comments/postings/pictures even my signature things "pulled", most of these I believe have been extremely over sensitive reactions IMHO. If this forum was a public service and financed by the governement I would have been outraged by it.
However Somersoft forum is a private entity it's existence is due to Jan and Ian Somers and of course the moderators efforts, so they can pull, push, edit, delete anything they like. Nobody hear can stop me setting up my own forum and enable people to abuse, defame and slander as much as they see fit for as long as they want. So we have a choice to accept dare I say a
benevolent dictatorship or start our own dictatorship. However looking over at the "dark side" www.propertyinvesting.com, it just isnt as good or as "nice" as Somersoft.
BTW I will start a thread on the possiblity of interest free home loans, in which the "D" word is prohibited
Thank you Always Learning, Kudo on the way.
I looked up the definition and it sums up Somersoft pretty perfect I think:
a "benevolent dictator" is the person that effectively holds dictator-like powers over that project, yet is trusted by other users/developers not to abuse this power.
The term is used humorously, because the "subjects" of the project leader contribute voluntarily, and the end-product may be used by everyone.
A dictator in this context has power only over the process, and that only for as long as he or she is trusted.
Thanks for the support of us Mods.
Peter 147
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