Press Release : Is this the end of the financial crisis ?
October 17, 2008
Written by News Team, in Press Releases
Financial crisis makes money tourism to the Philippines popular.
Cebu City – Philippines – October 15 2008.
According to Dick Detering, the financial crisis, characterized by very low interest rates, doesn’t exist. “Depends on how you look at it”, is his opinion. Detering is the owner of the company MoneyMakers International, a financial advisor in the Philippines. The company is specialized in savings and offers up to 20 percent interest on a certificate of deposit (cd) through its website http://themoneymakers.org/englishindex.html The product is offered by a group of rural banks in the Philippines. The interest is tax free on the condition that the account continues at least five years. According to the website, deposits are fully insured by the PDIC (Similar to the FDIC in the US). Detering says to be faced with the brand new globalization trend “Money Tourism”.
Detering explains further: “Many people consider our account as an oasis in the desert of the financial crisis”. According to the owner the crisis doesn’t exist at all in the countryside of the Philippines. He says, that, in these times of financial woes, it’s better to invest in a small bank. “They are not represented at the stock markets. That’s why their stock holder structure is more stable. And of course a small bank won’t be victimized by speculation scandals like the Big Boys”, says the owner of MoneyMakers International.
Dick Detering continues: “This applies even more to rural banks. As a rule these banks operate within a protected business environment, often connected to local cooperatives. Benefits for cooperatives are among others: shared buying and banking, less regulation, limited liability, and they pay less taxes than others. This is the reason why small banks, that are part of such a protected and strong economical environment, are much less vulnerable to influence from abroad, like the current financial crisis (characterized by very low interest rates), victimizing the Big Boys”.
Detering says to be faced increasingly with the brand new globalization trend “Money Tourism”. According to him money tourism should be defined as “travelling abroad with the goal to get an interest rate, that is much higher than the rate at home”.
“Many money tourists are currently travelling to the Philippines to open one or more accounts and some of them even invest at a distance”. “I don’t know if we offer the best interest rate in the world, but I’m sure we come close to it”, says the entrepreneur.
Source: http://financiele.wordpress.com/english
This Press Release/Message/Article is posted for public information purposes. The Manila Mail is not in anyway connected or affiliated to the person, company or entity that submitted this press release. For more information on this article, please refer to the contact information provided in the posting.
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Good article and attractive interest. But how about currency losses?
Engaging article but it seems to sugarcoat the cold fact that global economic fall-out is here and is bound to hit us really hard. To suppose that local cooperatives serve as panacea to this crisis is myopic.
Hello!
We have included your link in the Library Section of our village portal.
How can I send you our Press Release pls? I cannot find an email address I can send it to. Kindly advise.
Thank you!
Nanette Alcaro
Pax. My e-mail add is exoticman94@yahoo.com. I apologize for the delayed reply.
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THE LEGACY GROUP BANKS ….YOUR BANKS LISTED JUST CLOSED YESTERDAY DECEMBER 13..AND TAKEN OVERED BY PDIC…………..NOW WHAT?
FUCK YOU THE BANKS YOU INDICATED AND MEMBER OF YOUR ORGANIZATION JUST CLOSED LAST DEC 13,2008….SHAME ON YOU!
FUCK YOU Dick Detering!
I THINK YOU DICK DETERING,YOU ARE NOT DOING YOUR HOMEWORK AND YOU JUST WORKED OUT ON MARKETING STRATEGIES TO CONVINCED PEOPLE TO INVEST IN YOUR PRODUCT WHICH NEVER WORKED AT ALL AND BROUGH T SO MUCH LOSSES TO DEPOSITORS LIKE MYSELF.
PDIC IS ALSO NOT RETRICTING THE BANK TO ACCEPT MORE THAN 250K OF DEPOSIT.AND THE BANK DOES NOT EXPLAIN CLEARLY TO A DEPOSITOR THAT MORE THAN A 250K ON THE SAME NAME BUT SPLIT ACCOUNT NUMBER WILL NOT BE PAID BY PDIC.
WE’VE EARNED THESE MONEY AND WE WILL NEVER GET IT BACK.WE TRIED TO LOOK AFTER FUTURE BUT DICK DETERINGS PRODUCT TURNED MY DREAMS AND PREPARATION FOR THE FUTURE INTO ASHES.
THE PHILIPPINES LAW SHOULD IMPOSE A LAW THAT NO BANK WILL ALLOW A DEPOSIT OF MORE THAN 250K SINCE PDIC CANNOT PAY INSURANCE OF MORE THAN 250K ANYWAY…..WHY THEY ALLOW BANKS TO RECEIVE DEPOSITS BEYOND 250K………………………………………….DOES ANYBODY SEES THESE PHILIPPINE LAW AS BIASED AND ONLY HOLDS THE BENEFITS OF THE BANKS…………………………….THESE LAW WHICH PDIC IMPOSES IS BARELY A HELD UP IN FRONT OF ANY DEPOSITORS FACE………………HENCE……….THE DEPOSITORS ARE NOT PROTECTED ANYWAY…………………………..BECAUSE THEY STILL ALLOW THE BANKS TO RECEIVE A DEPOSIT OF ABOVE 250K…………………………….MY QUESTION IS WHY OUR PHILIPPINE LAW ALLOWS THESE KIND OF LAW TO BE IMPOSED………………………..THESE MEANS THAT ANYBODY WHO HAS A PURPOSE TO HAVE EVERYONES MONEY AND HAS PUSPOSE OF GETTING AWAY AFTER HE GETS ENOUGH MONEY CAN JUST SIMPLY WALK AWAY WITH THAT MONEY…………………MEANING ANYONE CAN INVEST ON HAVING A DUMMY BANK FOR FEW MONTHS OR YEARS………….AND THEN CAN DECLARE BANCRUPTCY……THEN WALK AWAY WITH THAT MONEY………………..WHY WHY AND WHY AGAIN THE PHILIPPINES GOVERNMENT IS ALLOWING THESE TO HAPPEN…HOPE YOU COULD HAVE THESE ARTICLE PUBLISHED AND HAVE THESE WORDS HEARD FROM APARRI TO JULU………………….BECAUSE IT’S NOT ONLY ME WHO’VE BEEN VICTIMIZED WITH THESE SCAM………………………….I SAY THERE ARE ABOUT SOME MILLION OF BIG AND SMALL INDIVIDUALS SUFFERING AND SUFFERED THESE KIND OF LOSSES.
MY APOLOGY IF THESE WORDS MAY NOT FIT TO BE DESCENT….BUT I ALWAYS HOPE YOU HAVE UNDERSTAND MY SENTIMENT.
COUNTRY SIDE RURAL BANK DEPOSITOR-LAPU-LAPU CITY CEBU
I added on these article DICK DETERING PRODUCT IS NONE RELIABLE KIND OF INVESTMENT…………….NEVER INVEST ON IT! PLEASE