Google Project 10^100 idea to save world economy

[believestudio]

is there any failed scenario for this p2p concept ?

[stuntman90265]

MANY! Just ask Catherine Austin Fitts about it. She was a former dierctor of a Wall Street investment bank and Commissioner of the U.S. Housing and Urban Development. She tried and got shut down. Hasn't anyone around here studied economics or become educated in the fractional reserve currency system and its master - the Federal Reserve Bank? Debt is your enemy, yet instead of discussing economic reform and dollar re-stabilization, we're discussing how to set-up yet another credit provider.

[ciaoidea]

you will be the winner!

[ciaoidea]

Great idea man! I want to apply your model to the Gcredit system could anybody could help me to develope the equations?

[ritzotencate]

Peer to peer lending is a great idea, but not new ;)

[ciaoidea]

I think your idea is simply great! I hope this could change the world economy very soon...

[JackBorot]

Peer-to-Peer lending is great, I know the asian immagrants to the U.S. have to doing it for years within the Asian community. It's basically a group based I.O.U. where people pool their money together to let others borrow. So this is a good idea, to have a set of trusted tools online, assuming that is what you are proposing? Because when a peer-to-peer system become dominated by any sort of controlling party, then you basically have the basis for the mafia and loan sharks, it's a fine line

[HastyUsernameChoice]

That's a really good idea. Kudos and good luck.What do you think about the idea of setting up a not-for-profit community banking system that raises capital through p2p, but has the guarantee and structure of a regular bank (just without the avaricious profiteering imperative that has brought the world economy to its knees)?

I read a really interesting article on ethical banks who are very much bucking the trend in the last few months - people are investing in them! :-)

[felixneedsajob]

Yes i believe we need to somehow create a system of lending based on helping others, not for pure profit. Thank you for your thoughts

[tep505]

Interesting idea... so Google becomes a lender?

Check out my idea too :D

[felixneedsajob]

Thank you for the comments. RE: Samehrocks: The idea is not to replace banks, but to supplement banks. Right now banks do not have enough credit for everyone and are not providing much interest for people's investment. This will be for people that would like to gain a higher interest rate, while also helping other people out. I believe p2p lending has many problems right now, but Google can make it safer and give better guarantees. Current p2p borrowing already affects your credit rating.

[JackBorot]

New immigrants to this country without credit do this to help other. It simply takes paying off say a car or a computer to start building good credit. I think having a set of trusted online tools is great. If they default the payments, there is not much the "community" can do about it... unless threaten to break legs. Many local Chinese restaurant owners have been the organizer of this form of P2P loans for years. The problem is greed, so the tools should help keeping people honest, good idea

[samehrocks]

so individuals are going to replace banks?? the problem here is what guarantees that they're gonna get their money back on the time frame they set! why they'd take this risk?

[desertblbuesman]

Sort of gives "google earth" a whole new meaning!

[sakioriko]

Check out my idea...its about online lottery by Google in order to implement all the 10 to 100 projects!