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Bid association

German helped chinese to build a financial group before bank that is similar bank.
But there was a way come from chinese as well. It help people in hard time and dont need bank.
It is a group of people collect money to one by turn.
If one of them need money then bid it. It is like interest rate.
So it can be float depend on how many people bid it.
If you are the last one then you earn the interest
but you should consider a possible that there may no one need so many money.
You will be forced to loan but you can use it if you know others ways.
how big money that depond on how many people attented
But it becomes more risk in a open society.
Cause their moral is getting to throw up. Chinese call it the association of helping each other".
Now people may not be under the same hard time. They betray easy.
Many people got all money then escaped. Very shame udner the spirit
But still has a little function in present society
I think it is suitable a group people who love each other and be able to keep promise.




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