Hello Guys
,
I'm writting from Brazil, and I did not speak german (I know this is a German forum, sorry for that
). I could use google translate, but I know that sometime translates wrong the sentences... so, English is better I think .
I attended in one reunion of this group IBB (ich bin bank), and... well... what I got: the base of the entire operation is under some "forgiven law". Researching on internet and some US University sites, I discovered that the law is vigent in some states of US, but not on the entire country. The operation uses the "forgiven debts" part of the law, to affirm that you could use how much money you want and the bank would always forgive your debit...
Well, if you are the owner of the bank, then you are forgiving your own debit, so... whatever. The bank need keep profiting to cover the debts, and that is all...
Well, now, where is the problem that I saw on this?
That law doesn't work on Brazil (where I live and would spend the infinity easy peasy juicy money that I would have acess with the time). The law doesn't even work in the entire US... and did not say anything about europian countries... because is a US law, from some state of US, and that is it...
Now, I don't understand of internacional laws... but I belive that some law, from some state of US, is not higher than the laws of the WTO or the country where the bank is founding...
As a Brazzilian, if I have any problem and try the justice system to force some "forgive debit" that I did; or to just get my money back; my laws doesn't cover this case... even the "bondage certificate" it's not valid under Brazzilian laws... to be valid ou need to registrate the certificate and follow the "Haia Agreement" (international agreement for jurisdiction documentation)...
Because of that I retreated from the investiment, and want to know:
Q - Do you know about how is going this.... "bank"?
Warm regards from Brazil,
Marco P