Today is the first day I heard about terrorist bombing in Jakarta after many years of peace. Truthfully, it's not because I don't believe it won't happen again. I believe terrorist attacks will continue to take place as long as we human still live in this planet, but of course the severity of the attack will vary.
Honestly many people in Indonesia has become very comfortable after several quiet years without any significant terror attacks. However the latest bombings will remind everybody to always remain vigilant and brace for the worst to happen. The world is old and probably is getting closer to its final chapter... Let's just hope for the best and prepare for the worse. After all, that's all we can do.
RIP to the victims and their relatives.
Thursday, July 16, 2009
What is truth?
Somehow, in this world certain "cheats" are considered fair play if you play it by the "rule." For example, a person cheats on taxes by claiming "exemptions" is acceptable, but a person cheats other people money by shortchanging them is not acceptable.
I guess the key is knowing the loopholes.
I once received an order from a person who claimed to be a pastor in the US (with poor English though), and he gave me a certain credit card to charge the orders. He said he will have someone picked up the orders, and asked me to contact his "shipping agent" which is apparently not a regular shipping agent (with @yahoo.com email... pretty suspicious). And yes, this "shipping agent" said that the shipping charge is $1,500 or something and he wants the money to be sent via Western Union to a suspicious African name. And I asked the person, and he tried to trick me by promising to pay for the order plus the shipping, and even gave me extra money if I charge them to the card. Surprisingly, the card went through, but I later received a call from my credit card processor that there's a problem with the card, the person did not say what is the problem. And I confronted him and asked why would the credit card processor let it through, and he said it's the bank's problem and not his. One thing he assured me is that the bank will not pay. And I asked, what happened to me then, and he said, it's my loss.
As we heard that the banks are being cheated by their customers, I can't help but thinking, "Doesn't it sound like karma? You reap what you sow." But I also can't stop thinking, is it banks' fault? Or customers? Or ??? It gives me more headaches with no clear solution.
And I ask myself again, what is truth again?
I guess the key is knowing the loopholes.
I once received an order from a person who claimed to be a pastor in the US (with poor English though), and he gave me a certain credit card to charge the orders. He said he will have someone picked up the orders, and asked me to contact his "shipping agent" which is apparently not a regular shipping agent (with @yahoo.com email... pretty suspicious). And yes, this "shipping agent" said that the shipping charge is $1,500 or something and he wants the money to be sent via Western Union to a suspicious African name. And I asked the person, and he tried to trick me by promising to pay for the order plus the shipping, and even gave me extra money if I charge them to the card. Surprisingly, the card went through, but I later received a call from my credit card processor that there's a problem with the card, the person did not say what is the problem. And I confronted him and asked why would the credit card processor let it through, and he said it's the bank's problem and not his. One thing he assured me is that the bank will not pay. And I asked, what happened to me then, and he said, it's my loss.
As we heard that the banks are being cheated by their customers, I can't help but thinking, "Doesn't it sound like karma? You reap what you sow." But I also can't stop thinking, is it banks' fault? Or customers? Or ??? It gives me more headaches with no clear solution.
And I ask myself again, what is truth again?
Tuesday, July 14, 2009
Second Market for California IOUs
We all may have heard that our great Golden State of California is broke. Not only that the state is unable to improve its public services, the state was forced to issue IOUs to its vendors. Even though many state vendors usually overcharge the state for their services, I am sure nobody likes being paid with IOUs. To make the matter worse, banks had refused to take the IOUs since last Friday.
Today, MarketWatch reported that a broker had opened a secondary market for IOUs. Some people may think, "Wow, it's nice of them trying to help those IOU holders to cash their checks," but my first impression was whoever started the business sure knows how to make money from someone's misery.
Why? Because the dealer did not buy the IOUs for themselves, instead they basically merely created a marketplace for buyers and sellers of IOUs to meet, and reaped profits from the transactions. I don't know how many cents per dollar will the IOUs go, but I am sure not very high because of the risk of defaults and the facts that some IOU holders are desperate.
The winner? The broker dealer... No wonder the word "broker" has "broke" in it.
I guess the only way to survive in this economy is by becoming crooks.
Today, MarketWatch reported that a broker had opened a secondary market for IOUs. Some people may think, "Wow, it's nice of them trying to help those IOU holders to cash their checks," but my first impression was whoever started the business sure knows how to make money from someone's misery.
Why? Because the dealer did not buy the IOUs for themselves, instead they basically merely created a marketplace for buyers and sellers of IOUs to meet, and reaped profits from the transactions. I don't know how many cents per dollar will the IOUs go, but I am sure not very high because of the risk of defaults and the facts that some IOU holders are desperate.
The winner? The broker dealer... No wonder the word "broker" has "broke" in it.
I guess the only way to survive in this economy is by becoming crooks.
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