Gold prices rise, leading to an online debate about how to borrow gold to pay, attracting many people’s attention – Illustration: DOAN NHAN
The story of how to return 10 sticks of gold was hotly discussed with thousands of shares on social networks during a time when gold prices were climbing.
Borrow 10 gold bars, want to repay 360 million after 14 years
Accordingly, an anonymous Facebook user posted a post asking for advice from the online community with the content: “In 2010, I borrowed 10 sticks of gold from my husband and wife (gold price at that time was 36 million VND/tael).
When we borrowed the loan, we also told them to calculate the amount as 360 million, and told us to pay 2 million in interest every month, and pay the principal when we have it (we pay full interest every month).
In early April, my husband and I sold the land so we collected the money to pay. They asked to pay 10 gold bars.
Now my husband and I want to pay, and my brother and I want gold. I hope you all can advise me so that I can agree to receive the money, but now the gold price is so high that I can’t pay.
Right now, the two families are arguing very intensely, and they keep saying that they and their husband eat porridge and don’t know what to do.”
After the article was posted, a series of groups and personal accounts simultaneously shared it. Many controversial opinions broke out.
The post has been continuously shared, causing heated debate in recent days – Photo: FB
The heated controversy has not ended
Accordingly, Pham Quynh Trang’s account said that although they borrowed gold, they converted the gold into money to earn an interest of 2 million VND/month. Because this interest rate is a relative, it is lower than a bank loan at that time. So paying is correct in this case.
With the same opinion, Hoang Vu account analyzed: “Gold’s nature has increased in value, higher than bank deposit interest.
This is considered like you get interest from the bank on the converted amount. But both the bank interest (taken monthly) and the interest on increasing the value of gold is 2.4 times, equivalent to an interest of 23.4%/year, 2-3 times more than depositing in the bank. So my brother would rather borrow from the bank at an interest rate of about 10%/year.”
Many accounts say that because the price of gold increased, the husband and wife became greedy and forced the younger brother to pay for the gold.
However, many people disagree. Phuong Dung Account believes that the lender is not greedy in this case.
“The interest rate in 2010 – 2011 was more than 16% per year. Money and gold are stored in space, not moldy or damaged. This is a sentimental loan with an interest rate of 2 million VND/month, calculated at more than 6%/year, equal to 1/3 of a bank’s. “But I’m also told that I’m greedy. Why don’t I go to the bank and borrow to see if there is any bank that will lend me money?”, this account argued.
The Descendants of the Sun account suggested: “Agree to borrow gold to repay gold, but the lender has calculated interest of 360 million VND. That means people have converted 10 trees at that time into 360 million. So now it’s reasonable.” The most reasonable thing is to agree to pay 10 trees at the present time minus the interest I have paid. That’s reasonable.”
Many people enthusiastically wrote summaries and analyzes of the story of borrowing gold on paper, then drew conclusions. But under those conclusions, even more heated controversy broke out.
The analysis table of a Facebook account also continues to receive controversy – Photo: FB
Besides, many people share their stories revolving around borrowing gold to repay gold or paying money. Many of them were due to conflicts over what to pay for borrowing gold, leading to displeasure with brothers and relatives.
Many people, even though they do not agree with the gold lender’s debt collection method, still accept to pay according to the lender’s wishes out of gratitude.
