News2 mins ago
Banking Crisis?
The current banking crisis explained by an Irishman
Young Paddy bought a donkey from a farmer for £100. The farmer
agreed to deliver the donkey the next day.
The next day he drove up and said, 'Sorry son, but I have some bad
news. The donkey's died.'
Paddy replied, 'Well then just give me my money back.'
The farmer said, 'Can't do that. I've already spent it.'
Paddy said, 'OK, then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Paddy said, 'I'm going to raffle him off.'
The farmer said, 'You can't raffle a dead donkey!'
Paddy said, 'Sure I can. Watch me. I just won't tell anybody he's
dead.'
A month later, the farmer met up with Paddy and asked, 'What happened
with that dead donkey?'
Paddy said, 'I raffled him off. I sold 500 tickets at £2 each and made
a profit of £898'
The farmer said, 'Didn't anyone complain?'
Paddy said, 'Just the guy who won. So I gave him his £2 back.'
Paddy now works for the Royal Bank of Scotland .
Young Paddy bought a donkey from a farmer for £100. The farmer
agreed to deliver the donkey the next day.
The next day he drove up and said, 'Sorry son, but I have some bad
news. The donkey's died.'
Paddy replied, 'Well then just give me my money back.'
The farmer said, 'Can't do that. I've already spent it.'
Paddy said, 'OK, then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Paddy said, 'I'm going to raffle him off.'
The farmer said, 'You can't raffle a dead donkey!'
Paddy said, 'Sure I can. Watch me. I just won't tell anybody he's
dead.'
A month later, the farmer met up with Paddy and asked, 'What happened
with that dead donkey?'
Paddy said, 'I raffled him off. I sold 500 tickets at £2 each and made
a profit of £898'
The farmer said, 'Didn't anyone complain?'
Paddy said, 'Just the guy who won. So I gave him his £2 back.'
Paddy now works for the Royal Bank of Scotland .
Answers
1 to 7 of 7
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Once upon a time, in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $10.
And, as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20 for a monkey.
This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each, and the supply of monkeys became so small that it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35, and when the man returns from the City, you can sell them to him for $50 each."
The villagers rounded up all their savings and bought all the monkeys. They never saw the man nor his assistant again, only monkeys everywhere!
Now you have a better understanding of how Wall Street works!!
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $10.
And, as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20 for a monkey.
This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each, and the supply of monkeys became so small that it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35, and when the man returns from the City, you can sell them to him for $50 each."
The villagers rounded up all their savings and bought all the monkeys. They never saw the man nor his assistant again, only monkeys everywhere!
Now you have a better understanding of how Wall Street works!!
1 to 7 of 7
