Tom Keene of Bloomberg talks about the Fed and the results we may see of the solutions being put in place by Ben Bernanke. He makes the interesting and valid point about Ben Bernanke being one of the best living historians of the Great Depression and why it puts him in the unique position of being able to navigate the situation the US economy is in. 50 beeps in the 10 year treasury equates to nine big figures on Euro Dollar, so going from $1.30 to $1.39. Tom also talks about savings rates. Great viewing.
Stoozing? … It's Money for nothing and the bips for free.
I kind of paraphrased a line from the Dire Straits song ‘money for nothing’ and replaced ‘chicks’ with ‘bips’. Bips are ‘Basis Points’ and it normally refers to hundredths of a percent when you are talking about rates, so 33 bips is 1/3 of 1% or 0.33. Anyways, this post is about Stoozing or getting money for nothing. Its something that has become more and more popular as of late and it’s also a loophole in the financial system that is being widely abused it even has its own website.
Stoozing is where you get a credit card on 0% and max out the money you can take on it at 0%. Normally cash withdrawals have a separate interest rate but if you know a person who owns a shop you can run it once for your total credit limit and have them give you the money (illegal – I’m just saying how it seems to work in practice). You then place this money in the highest paying deposit account …
Stoozing? … It’s Money for nothing and the bips for free.
I kind of paraphrased a line from the Dire Straits song ‘money for nothing’ and replaced ‘chicks’ with ‘bips’. Bips are ‘Basis Points’ and it normally refers to hundredths of a percent when you are talking about rates, so 33 bips is 1/3 of 1% or 0.33. Anyways, this post is about Stoozing or getting money for nothing. Its something that has become more and more popular as of late and it’s also a loophole in the financial system that is being widely abused it even has its own website.
Stoozing is where you get a credit card on 0% and max out the money you can take on it at 0%. Normally cash withdrawals have a separate interest rate but if you know a person who owns a shop you can run it once for your total credit limit and have them give you the money (illegal – I’m just saying how it seems to work in practice). You then place this money in the highest paying deposit account …