Monday, July 15, 2013

Petchili bonds

We got very close to selling 20 Petchili bonds last month - so close that we almost started thinking about how we would spend the substantial commissions. Well, as usual, the deal didn't happen because the buyers were in one place and the sellers were in another and the two could never agree to trust each other enough to meet halfway. On the other hand, so many sellers have gone to Zurich to sell their bonds for millions and even billions - with contracts in hand and bank invitations as well - then they have been let down BIG TIME. Who would want to go through that again? I know one seller who has had his packages with a strong and well-connected broker for two months and NOTHING has happened and, by all indications, NOTHING will happen. He is now to the point that if someone shows up with 70 thousand in cash, he will sell, even though he has been promised 50 million per bond. A bird in the hand is better than two in the bush, as they say. 

4 comments:

  1. If you are still interested in selling please let me know bernie@worldwidefs.com.au

    ReplyDelete
  2. Hi,
    I must say that im curious.
    A friend of mine is trying to sell his chinese bonds.
    As he has told me, he and other people who have the bonds, send some guy to Zurich to cash the bonds.

    The story that you mention on this post is very similar to what hes being telling me all these time... Apparently, some day soon, they will pay... but that day never comes... And this guy in Zurich is getting desperate since hes away from his family.


    So i must ask: Do you think someone will ever pay him? I joke about all this,telling him that the story about China paying a 100 year old debt is too crazy to be true...
    But, is it? Why do they have to travel to Zurich to receive the payment of a Chinese debt..?

    Just want to know someone elses theory, thanks for enlighten me.

    Regards,

    ReplyDelete
    Replies
    1. Zurich is the centre for said operations, simply because it is legal to sell historical paper.
      Taxes have to be paid.
      The Fiduciary Companies are already set up and ready to operate.

      Delete
  3. Not one Petchelli Bond has been sold for more than 500.000 USD.
    Forget about the millions.
    The only people that are making money are the Hotels, Travel Agencies and telephone companies.
    It is a scam.
    How can 100 year paper be worth any more than what a collector pays.

    ReplyDelete