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/biz/ - Business & Finance

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49359947

Here is Cambodia the banks are offering 7%+ interest on USD Anonymous Sat Jun 4 03:25:12 2022 No.49359947 [Reply] [Original]

I have given a look at the local banks here, most of them very financially sound as the country is in an economic boom. Most often they are owned by big foreign banks that are very stable.

7%+ interest on USD deposits on fix. Term 1 year is possible.

Here the economy is dollarized and the Riel (local currency) is just used in place of US coins (purchases below 5$) and it is a dollar surrogate (fixed exchange rate).

The overall economy is booming and the capital is a very nice place to live.

I am thinking if i had 1 million by selling some properties abroad why not just get 73.000 $ in interest every year and fucking stop wage slaving?

Maybe do some part time work online to get some extra cash or some small business.

The average salary in Cambodia is 300$ a month so with 73.000$ a year life is easy. That is 20 times minimum salary.

Can buy a decent apartment for 50.000$ with a rooftop pool and pay it off in 2 years while living like a king with the money left.

Seriously why not? Women are available and easy going no stress and the weather is always summer.

>>	Anonymous Sat Jun 4 03:26:17 2022 No.49359969 Is holliday in Cambodia...

>>	Anonymous Sat Jun 4 03:38:00 2022 No.49360182 File: 6 KB, 300x168, images (28).jpg [View same] [iqdb] [saucenao] [google] >>49359969

>>	Anonymous Sat Jun 4 04:03:58 2022 No.49360640 >>49359947 Do you feel confident the dollar is here to stay? Also, what is inflation running at there? Truflation has it over 10pc in US

>>	Anonymous Sat Jun 4 04:07:50 2022 No.49360712 >>49359947 So the dollar liquidity is evaporating on the periphery. Might be a decent deal if the banks survive. Would actually have to look at the banks and currency and central bank reserves to see what the risks are.

>>

Anonymous Sat Jun 4 04:09:12 2022 No.49360737

>>49360640

Inflation here is not too bad. Anyway the main reason behind inflation in the west is energy prices and shipping costs from china to the West that went up 10 times since before covid.

Dollar is here to stay for at least a few decades no doubt. They haven't even set a tentative year at which they will even try to flot the Riel

>>	Anonymous Sat Jun 4 04:10:15 2022 No.49360762 >>49360712 We had higher interest rates back in 2014

>>	Anonymous Sat Jun 4 04:10:36 2022 No.49360769 >>49359947 Cambodia is the pajeet of SE Asia. Total slum of a place.

>>	Anonymous Sat Jun 4 04:13:09 2022 No.49360808 >>49360769 It's changing so quickly.

>>	Anonymous Sat Jun 4 04:22:19 2022 No.49360951 >>49359969 Where you'll kiss ass or crack

>>	Anonymous Sat Jun 4 04:33:57 2022 No.49361099 >>49360712 don't know if liquidity will get better or worse but you can see it by looking up bid-ask spread indexes https://fred.stlouisfed.org/series/BAMLC0A4CBBB

>>	Anonymous Sat Jun 4 04:52:32 2022 No.49361359 File: 35 KB, 848x159, 1643332165.png [View same] [iqdb] [saucenao] [google] Who needs a 7% when i can get a 40% op?

>>	Anonymous Sat Jun 4 04:53:04 2022 No.49361366 >>49361099 >>49361359 yeah liquidity is a big problem, what about your coin anon, does it have liquidity?

>>	Anonymous Sat Jun 4 04:53:13 2022 No.49361367 >>49361359 based

>>	Anonymous Sat Jun 4 04:53:34 2022 No.49361373 >>49361359 RYOSHI DO THE NEEDFUL

>>	Anonymous Sat Jun 4 04:53:52 2022 No.49361376 >>49361359 when ryoshi announcement anon, wtf is going on in the backstage

>>	Anonymous Sat Jun 4 04:55:02 2022 No.49361391 File: 9 KB, 230x219, 16234778995.png [View same] [iqdb] [saucenao] [google] >>49361373 >>49361376 i raise a glass and a dicky for that

>>	Anonymous Sat Jun 4 04:56:37 2022 No.49361409 >>49361391 >dicky pepe heh

>>	Anonymous Sat Jun 4 04:59:01 2022 No.49361437 >>49360808 kek its not though khmer are a lazy nigger minded people they're collective stupidity will always hold them back more than any economic situation will now Vietnam on the other hand has real potential t. former phnom penh expat

>>

Anonymous Sat Jun 4 05:07:04 2022 No.49361568

https://www.newyorkfed.org/markets/desk-operations/reverse-repo
https://fred.stlouisfed.org/series/RRPONTSYD

more on liquidity. QT is working? 2 trillion being parked in reverse repos

https://www.bloomberg.com/news/articles/2022-05-23/fed-s-reverse-repo-facility-exceeds-2-trillion-for-first-time

>>	Anonymous Sat Jun 4 07:19:27 2022 No.49362936 >>49359947 I trust celsius/blockfi more than a cambodian bank

>>

Anonymous Sat Jun 4 07:24:00 2022 No.49362975

>>49361437

Yeah the locals are generally lazy but most of the businesses are run by westerns, Chinese, vietnamese and Khmer that grew up or studied abroad.

All successful local businessmen here have degrees from Australia, US or Europe or are in bed with the government on some projects or both.

But the easy banking, easy laws, low taxes and the easiness to register businesses with 100% foreign ownership is attracting tons of investment.

Vietnam is good but they still have the commie mentality that most business can't be ran by foreigners 100%.

The best thing for crypto here is that if you show up to any bank with 200.000$ in cash it's considered normal and you get no issues.

>>	Anonymous Sat Jun 4 07:27:35 2022 No.49363009 >>49359947 Is Cambodia where the killing fields took place?

>>	Anonymous Sat Jun 4 07:32:23 2022 No.49363060 >>49360769 Was there two years ago. It has its charm, but Phnom Penh is a shithole still. Very cheap, but shithole. Further south along the coast there are some ok places.

>>	Anonymous Sat Jun 4 07:34:36 2022 No.49363086 >>49361437 This. It is probably where Vietnam is now, in 10/15years. The scars from Pol Pot are still very visible.

>>	Anonymous Sat Jun 4 07:35:59 2022 No.49363106 >>49359947 Is it safe? I'm thinking to visit

>>	Anonymous Sat Jun 4 07:38:26 2022 No.49363132 >>49363009 Some 50 years ago yes. Communism really sucked here so people are quite skeptical of anything sounding communisty.

>>	Anonymous Sat Jun 4 07:39:56 2022 No.49363150 File: 3.22 MB, 2835x1744, 1628139827048.png [View same] [iqdb] [saucenao] [google] >>49363106 >is cambodia safe

>>	Anonymous Sat Jun 4 07:40:04 2022 No.49363152 >>49359947 Banks giving high yield is bearish T. Lived through Yugoslavia bank runs

>>	Anonymous Sat Jun 4 07:42:54 2022 No.49363161 >>49363152 my grandparents tell me about that sometimes apparently a week's pay was enough to buy a loaf of bread my baba had a job at a german band so she was paid in dat there deutsche marks

>>	Anonymous Sat Jun 4 07:43:24 2022 No.49363164 >>49363161 >german band bank*

>>

Anonymous Sat Jun 4 07:47:54 2022 No.49363208

>>49363106

Yes.
Safer than most cities in the west honestly, you can walk at night everywhere in the capital without worries of being robbed, there is almost no violent crime even in the most hooker infested part of town.

Still you need to keep an eye on phone and handbag snatchers which are still quite common. But they aren't violent. They mostly drive on a scooter in 2 ppl and the guy at the back tries to grab your phone or bag on the go. If they fail they just drive off.

So it's very safe just don't take drugs in some whorehouse (you will wake up without your wallet and probably with some STD) or walk around mindlessly having video calls holding your 1000$ iphone in your hand. Keep it in your pocket and take it out when you are not within arm's reach of people driving on the road.

>>	Anonymous Sat Jun 4 07:52:48 2022 No.49363246 >>49363208 Thank you for the insight. What is the attitude toward foreigners

>>

Anonymous Sat Jun 4 07:57:21 2022 No.49363281

>>49363152

They have been giving high yields for roughly 20 years now.
And the country is currently very stable and the economy growing fast.
i don't see any bank run as anyway most banks are small and owned by big foreign bank that can supply liquidity without issues not to lose their investment.

Personally i recommend AMK because they have good interest, are very conservative on loans the give, have a good app and are owned by The Shanghai Commercial & Savings Bank, Ltd. (SCSB) which is a large bank that has been around for over a century and AMK is so small compared to the mother bank that they can bankroll it trough any potential difficulty without even feeling it.

>>	Anonymous Sat Jun 4 07:58:53 2022 No.49363299 >>49363246 Very good. Just don't piss on a Buddha statue or start talking crap about how poor they are or getting involved into politics. Most young people speak English.