Episode 16 04. Became Banco’s Assistant (4)
Such high interest rates were a burden for borrowers, and on the contrary, it was a means of earning large amounts of money for lenders.
However, it was not always possible to make a lot of money through interest games.
‘Because the loan business has its own risks.’
What if the person who borrowed money does not pay it back in the same way?
That part had to be taken into account, too, so goldsmiths like Carter couldn’t get the interest rates too low.
You have to be prepared for bad debtors.
‘So the monthly interest rate is 6%? This isn’t just a figure out there. Perhaps it comes from the correlation between the bad debtor and the interest rate.’
Still, the monthly interest rate of 6 percent was rather high.
‘Still, it cannot be denied that the interest rate is high.’
Carter continued to explain.
“Even if you return the borrowed gold coins within one day, the interest must be calculated as one month. Interest is paid for one month from the moment you borrow it. And if the borrowing period is one month and a full moon, it will be calculated as two months, and you will understand roughly what it means, right?”
“Yeah, I know that.”
Carter stroked my beard and commented on any unsavory things that might have happened.
“If you work here, you will come across all kinds of facts, but me, like everyone in Lyon, I don’t lend gold coins to dogs or cows, so I haven’t had any major problems so far. They’re in Lyon, and if the other person doesn’t pay, they even use thugs to get them.”
“Then what did you do? If your opponent says it’s a double. Did you use a thug too?”
“I don’t know because I didn’t lend it to them in the first place.”
“Have you never been out of money before?”
“No. of course there was But every time it happened, I became more cautious. Now, unless you are a person with high credibility like the lord, you will never give out gold coins. That’s why I rarely take any money.”
“But I also had a hard time playing interest because I was always running low on funds. It’s so stinky, but you can never get rich by rolling a single piece of money. But, as you said, if you secretly touch the gold coins left by customers, this interest game will be quite fun.”
The business of lending money to others was still booming.
He’s the one who needs money, because he’s always been around.
“If you only have a lot of gold coins, what are you worried about? There are not only bad debtors in the world, but there are also many high-credit customers who need urgent money.”
After all the explanation, Carter gave Rockefeller his luck with a grin wet with greed.
“Then let’s start earning money today. I wish you all the best.”
That’s my heart, Rockefeller was no different.
“I’m begging you.”
However, their dreams were different.
‘The truth is, making real money starts with deception.’
Carter knew nothing now.
About the real version Rockefeller is drawing.
‘In that sense, shall we begin the real deception?’