Why aren't all companies doing this? RechargeIT.org

I'm surprised how this subject just got very interesting here in Denmark. There is a new type of loan called SMS-loan. You can only load from around $180 to $550 for just one month, but the yearly interest is equivalent to 2229%. If you loan $180 it will cost you $54 in interest!! So if you are loaning the money because you did not have enough to buy that new iPhone or whatever, that you just have to have. You might get what you want, but you will be poorer than before. The SMS-loan is aimed at young people, who it seems don't know better.

So if you have not seen that short video on usury that I linked to in my last blog, you should see it now.

I just re-watch a 7 minute video on Usury. If you don't know what it is, then I would recommend you watch it. Prabhu Guptara gives a very good and easy to understand explanation of usury. It might change the way you loan money. Prabhu's blog is very good too, I have a link to it here on my blog.

Here's the link to the video called Conflicts of Interest. It's on a site called Big Picture TV which also has a lot of other interessing videos.