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Space Tourism a con job?
On Dec 15, 12:57*am, Sylvia Else wrote:
William Mook wrote: You are the one Freddie saying 'stupid ****' like an escrow account can't be part of a trust and funds placed at risk cannot earn interest and stuff like gross negligence can't release funds placed at risk. haha.. http://en.wikipedia.org/wiki/Escrow Yet clearly, there are a couple of things that can't be done with fund in escrow: a) They can't be spent. b) They can't be pledged against a future liability since either of these would mean it was impossible for the funds to be returned to the depositor in the event of a default. For a person developing a service, they are useful as a guarantee that the service will be paid for if it is delivered. But the funds are not available to support development. Sylvia. That would be nice if the private Federal Reserve played by the rules, and their kosher approved SEC didn't continue with their pro-Ponzi policy of letting the rest of us get screwed. ~ BG |
#22
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Space Tourism a con job?
On Dec 15, 3:16*pm, Sylvia Else wrote:
William Mook wrote: On Dec 15, 3:57 am, Sylvia Else wrote: William Mook wrote: You are the one Freddie saying 'stupid ****' like an escrow account can't be part of a trust and funds placed at risk cannot earn interest and stuff like gross negligence can't release funds placed at risk. haha.. http://en.wikipedia.org/wiki/Escrow Yet clearly, there are a couple of things that can't be done with fund in escrow: a) They can't be spent. b) They can't be pledged against a future liability since either of these would mean it was impossible for the funds to be returned to the depositor in the event of a default. Depends on the details Sylvia spelled out in the terms creating the financial arrangement. No it doesn't. All sorts of financial arrangements can be entered into, but if the above don't apply, this it's not an escrow. Sylvia. Correct, escrow = escrow (as in can't be touched or utilized for leverage) On the other hand, a pledge or even a promissory note can be anything you like. Perhaps a federal excise tax of 10% would make Mook happy, but only if 100% of that tax went into his R&D (with no strings attatched). I've offered a 50% matching fund, whereas the 50/50 public investment also gets to own 50% of whatever's accomplished (good or bad). ~ BG |
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