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In the past, in the financial circle, there were always some "old fritters" who were able to maneuver between debt and assets with their shrewd minds and unique "debt elimination" routines to make considerable profits. Of course, these routines no longer work, but looking back, we have to admire the "divine operation" of some people to make money in their heads.
There was once a classic case where someone was being pursued by a creditor because he owed a huge amount of debt, and the assets in his name were not enough to pay it off. At this time, a friend of his came to his aid and lent him a batch of valuable imperial green bracelets. Through a series of operations, they had the court seize and auction off the bracelets. During the seizure, the friend used his resources and influence to hype up the value of the bracelet. In the end, this batch of bracelets was sold at a price far beyond the original price, which not only paid off the debt, but also made the friend a lot of money.
This case may seem magical, but in reality it hides huge risks. First of all, this operation is suspected of fraud and false advertising, and once discovered, it will face serious legal consequences. Second, this "debt cancellation" routine is built on the credibility of the legal ticket, and once the credibility of the legal ticket is questioned or undermined, the whole game will not be able to continue.
However, in the past financial environment, there were indeed some people who were able to make huge profits by relying on this "debt elimination" routine. They take advantage of factors such as information asymmetry and market volatility to find arbitrage opportunities between debt and assets. However, with the strengthening of regulation and the maturity of the market, this arbitrage space has gradually disappeared.
Looking back now, although the "debt elimination" routine of these "old fritters" was once prosperous, it was not a long-term solution after all. For ordinary people, in order to gain a foothold in the financial market, they need to be down-to-earth, earnestly study financial knowledge, grasp market dynamics, and abide by laws and regulations, so as to move forward steadily in the financial world where risks and opportunities coexist.
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