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Re: Someone is accumulating BCSCA

Wait, so they're worth $2? You just sold an asset then.  Can't have it both ways.

Imagine doing this:

Buy a Ferrari, and encumber it with a loan.

Let it depreciate so that the market value of the car is less than the amount owing

Pay your friend to take it off you legally for $1 - make sure you pay your RTA transfer fees legally.

Your friend then makes no payments on the loan.

As the loan was secured against the car, which you no longer own, the loan company has nothing on you. Your friend loses the car, but that's okay, he only paid $1 for it, and even received a payment from you to take the car.

Can you imagine getting up before a judge and swearing on the bible or the Aussie flag, that you thought what you did was both legal and ethical? Man you have a twisted sense of right and wrong.

And let me guess - we're going to get back to "You can't buy a $500,000 loan on a ferrari for $500 and a click of a mouse button" argument. While that is less than ideal, two wrongs still don't make a right in my eyes.