November 13, 2009
Confusion over where money lent on Kiva goes - I'm sure you all remember the micropayment service which allows you to pay small lone amounts to individuals in countries that need investment. What a lot of people (apparently) didn't know is...well...that's not really how it works. When you see the picture of that person on the site they've already gotten their money from a local microloan agency; your money just backstops that agency. Soooooo, if you're basically just lending money to a bank...what do you need Kiva for?
Perhaps it is time to retire the yarn of the longnose snake.
We are always accepting suggestions for the subtitle on the banner (or whatever you call it).
More shockers: Obama doesn't personally operate his Twitter account, and Malcom Gladwell isn't an instant expert on everything from the IQ to the "igon value".
I suggest changing the banner to: MrFlip Roo-lez, Javelina Droo-lez.
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Yes, epic lulz. So when the haberdasher high in the Himalayas has handed back the $25 "I lent her", where is that $25 really coming from? Not from the haberdasher directly, of course. Is it a micro-finance company kicking coins back to Kiva? Is it a switcheroo from other funds recently given to Kiva. Is Kiva a pyramid scheme?
Since google found nothing, I must declare it: Kiva is a pyramid scheme.
There. Done, and done.
posted by javelina at 10:32PM CST on November 14