Do you play Tong Tin?

YouTube · Post by **General Mackevili** » Mon Oct 26, 2015 3:12 am

I want to play! Can I be the LEADER? :stir:

LaudJohn · Post by **LaudJohn** » Mon Oct 26, 2015 6:42 pm

If the organizers play it straight and do not do a runner or rip off, think of it thus:

It is a high interest credit union.

"Players" are investors and borrowers.

If you are a borrower you basically pay a high rate of interest, say 25%pa on the money you borrow.

If you are an investor, after a set period you get a payout which is basically say your investment plus 25%pa interest on your monthly contributions.

It is alive and well in the Vietnamese community in Melbourne.

Many of the borrowers cannot access main stream funds/lenders and the interest rate is akin to credit card interest rates. Investors like the high interest rate of return.

The gamble is that you are gambling on the creditworthiness of the borrowers and on the honesty of the organizers.

frank lee bent · Post by **frank lee bent** » Mon Oct 26, 2015 7:47 pm

it was regulated successfully as a financial institution 150 years ago in France. persisted for some time. worth researching for interest alone.
the fact that it won't go away says a lot.

prahkeitouj · Post by **prahkeitouj** » Tue Oct 27, 2015 11:38 am

frank lee bent wrote:it was regulated successfully as a financial institution 150 years ago in France. persisted for some time. worth researching for interest alone.
the fact that it won't go away says a lot.

It might be from France because we have had under French colony. And I read old newspaper of Sangkum Rasniyum, I saw they played it too.

prahkeitouj · Post by **prahkeitouj** » Tue Oct 27, 2015 1:25 pm

It's in Khmer, sorry no English.
http://news.sabay.com.kh/article/148157

Post by **Username Taken** » Tue Oct 27, 2015 1:27 pm

^^ Don''t apologize, just translate it. Thanks.

prahkeitouj · Post by **prahkeitouj** » Tue Oct 27, 2015 1:33 pm

Username Taken wrote:^^ Don''t apologize, just translate it. Thanks.

Here is Google translation

Jack.R. · Post by **Jack.R.** » Mon Aug 07, 2023 7:37 pm

What happens if people that borrow the sum early just disappear and do not repay the tong tin banker?

Cooldude · Post by **Cooldude** » Mon Aug 07, 2023 8:08 pm

I saw this happen to my landlord a few years ago. I think he was a leader. Sold off one of his SUVs to cover the money one of them took off with.

newkidontheblock · Post by **newkidontheblock** » Mon Aug 07, 2023 8:52 pm

Sometimes the leader runs away with the money, too. These people pop up on CEO News from time to time.

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