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He promised clients a 50% profit within 45 days or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the U.S. as a form of arbitrage.: 1 In reality, Ponzi was paying earlier investors using the investments of later investors.
The temperatures in the Kazakh SSR would drop anywhere from −50 °C (−58 °F) during winter and then hit up to 50 °C (122 °F) during summer. They travelled in wagons that were locked from the outside, without light or water, during winter. Trains would stop and open the wagons only occasionally to bury the dead in the snow.
Microfinance. An Afghan woman doing microfinanced sewing work. Microfinance is a of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and ...