09-13-2017, 02:45 AM | #51 |
Join Date: Feb 2005
Location: Berkeley, CA
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
Depends on your definition of 'much'. It can certainly be the difference between "practical to start a business" and "not practical to start a business".
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09-13-2017, 03:22 AM | #52 |
Join Date: Mar 2008
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
I read of an approach in the middle ages of lending the money interest free for a six month trading trip but the loan was for a month. Since they didn't pay it back on time they get fined a certain amount for each month late they are paying it back.
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09-13-2017, 07:06 AM | #53 | ||
Join Date: Jan 2014
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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If there is no interaction between Usury-No and Usury-Yes then you might slightly increase the interest you calculate the loan with to reflect the loss to the bank if the debtor quits (the bank may only receive a few payments and a very devalued asset). If the interaction between the societies are high, the Usury-No loans are likely to have significantly higher interest because of the greater security to the investor that the Usury-Yes loans provide (assuming that the investors don't care about the lenders practices). On the second point. Usury-No has been in its game for long enough for a the governments of its society to understand the legal fiction of the banks "investments". It's likely that the government would support this industry by creating a corporate model that doesn't rely on what amounts to a legal hack (i. e. The "borrower" assumes all responsibilities for company actions, while the "lender" is shielded). Of course, this leads to more legal hacks, for example a a corporation may provide funding for a deniable operation through the auspices of a "loan". On the other hand, if no such structure exists, then the lender has an interest in making sure that none of the actions by the borrower endanger it, so a business agent would likely be assigned to each ship. |
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09-13-2017, 08:19 AM | #54 |
Join Date: Jun 2006
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
It seems relatively close to the deal with callable preferred stocks, and there are plenty of buyers for those. Generally that set return is the draw.
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09-13-2017, 11:27 AM | #55 | ||||
Join Date: Feb 2005
Location: Berkeley, CA
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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Also note that spaceship loans are generally secured loans, and though the rules don't address it, may be structured as a non-recourse loan. This means that, in the event of the borrower going into default, the bank seizes the asset to recover its costs, and the remaining debt, if any, is discharged. Quote:
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The second does not differ meaningfully from a conventional secured loan, and can be treated as one. |
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09-13-2017, 02:14 PM | #56 | |
Join Date: Jun 2005
Location: Lawrence, KS
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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09-13-2017, 09:54 PM | #57 |
Join Date: Aug 2008
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
I do have to beg to differ here. Inflation is one of the factors any financier worth his salt will take into account when deciding what interest rate is acceptable for a loan. Same can be said in reverese when offering a loan. Offsetting inflation is the bare minimum an interest rate needs to accomplish. As a borrower, I would want inflation to be higher than my interest rate, so I end up paying back less purchasing power than I borrowed. As the bank, I want jnterest to be higher than inflation.
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09-14-2017, 02:47 AM | #58 | ||||
GURPS FAQ Keeper
Join Date: Mar 2006
Location: Kyïv, Ukraine
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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When I talk about washing hands off, I mean specifically the banks being very insulated from losses in such cases, as compared to people who get into debt they are likely to fail repaying in time. Yes, rules down the line can be used to mitigate this, but apparently our world hasn't managed to reduce the problem to an un-notable one, and I'm interested in exploring a divergent approach. Quote:
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Obviously if going into an unplayable level of detail, there are levels of interweaving that can't be even summarized in a thread like this - I touched upon a small bit of those when comparing hard currency vs. regular money credits and mentioning that the former look lucrative due to lower interest rates. |
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09-14-2017, 03:09 AM | #59 | |
Join Date: Jun 2006
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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09-14-2017, 03:35 AM | #60 | |||
Join Date: Feb 2005
Location: Berkeley, CA
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Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases
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This assumes a captain who is honest and competent. Neither of these things can be taken for granted. Last edited by Anthony; 09-14-2017 at 03:38 AM. |
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Tags |
financing, islamic banking, spaceships, usury |
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