Chapter 57: Usury

  Seeking sponsorship...

  Just as Xuyunjin was taking a taxi in the rain to go to the cafe for so-called "communication" with Ding Shuxi, Yin Xianer was on the phone with her father, Yin Xuechen.

  "Dad, it's raining and the road is slippery, tell Uncle Wang to be careful when driving."

  The Wang Shu in Yin Xian'er's mouth is Yin Xuechen's driver. After Yin Xuechen started his own business and had some success, no longer needing to drive himself, the first driver he recruited was him, one of the people Yin Xuechen trusts most, known as the fourth person in the Yin family.

  "Your uncle Wang's skills, aren't you reassured? No need for you to remind him, he will pay attention. On the contrary, it's you, in a few more days, you'll be starting school again, and your father doesn't need you to worry about things here either. You should put all your thoughts on your studies instead. Your father isn't expecting you to pursue further education or get a PhD, but at least you should get your university graduation certificate, which will also be respectable in the future."

  "My studies, don't worry about them. Dad, I heard from mom that after you came out of the detention center, you stayed at home for a day and didn't even take care of the family business, then went back to Yanjing and ran around everywhere, is that true?"

  Yin Xian'er has become more confident over this period of time. Perhaps it was the previous days when Yin Xuechen entered the detention center, which made her mature a lot. She is getting more and more used to speaking to her father in an equal tone.

  Of course, it's an equal attitude, when it's time to call "dad", still have to call "daddy".

  "What's called running around everywhere? Father is doing something important." Yin Xuechen said.

  "Is this a proper matter? Leaving behind the family business worth tens of millions, rushing to Beijing, searching for equipment worth tens of thousands of yuan and renting a factory for thousands of yuan per month, is this considered a proper matter?"

  "Dad, do you know how sad Mom and I are about what you've done? Recently, Mom has been exhausted from dealing with your affairs. We were planning to let you take the burden again after you got out, but instead, you've become a deserter. The family business is suffocating Mom, she can barely breathe."

  Yin Xian'er was somewhat excitedly accusing her father, and she couldn't make clear what emotion had caused such an outburst. Before this, she had never spoken to her father in such a tone.

  Yin Xuechen smiled wryly and said, "Xian'er, your mom is tired, I know that. But doesn't dad have something important to take care of? After I finish my business, I'll immediately return to Jixi City, shoulder the responsibilities that I should, and fulfill all my duties. This will take some time, but it's just a matter of two days. The things I need to take care of are already taking shape."

  "Dad, I really can't understand why you're making such a big deal about Sun Zesheng's matter. Is his thing more important than our family business? We're now in a critical situation and need your leadership to lead the employees to break through the difficulties and turn around the declining situation. But instead, you've gone off to do something that doesn't even require your personal attention."

  Yin Xian'er continued to accuse.

  Yin Xue Chen couldn't help but smile bitterly, "Xian'er, I've told you countless times. Sun Zesheng is not a simple person, I think his potential is extremely great, possibly far beyond our imagination."

  Now, investing one cent in him may yield a return of one dollar, ten dollars or even one hundred dollars in the future. With such high returns, why wouldn't I do it?

  Besides, let's put it this way, even if we don't consider the pros and cons, just because Sun Zesheng has saved our family twice in a row, I won't stand by and do nothing about his affairs.

  One must know how to be grateful, especially for a life-saving favor, and cannot just ignore it without any repayment.

  Xian'er, why are you always so opposed to Sun Zesheng? He's not just someone who had a secret crush on you in the past. After he saved you and you gave him money, he even asked for an additional 200,000 yuan.

  What's wrong with this?

  "I personally think that Sun Zesheng is really great, I have a very good impression of him. If you have the chance, it's still..."

  "Alright, you don't have to keep repeating the same old tune in front of me. What's going on between me and Sun Zesheng has nothing to do with you." Before Yin Xuechen could finish speaking, Yin Xianer directly cut him off.

  "Alright, alright, my dear daughter's private matters, I won't interfere as her father. By the way, Xian'er, our family business, Dad isn't completely uninvolved. These past two days, I've been running around and gave a red envelope to Liu, the vice president of the Industrial and Commercial Bank, he agreed to give us a loan of 2 million yuan. Also, I found your Uncle Zhang, he agreed to lend us 5 million yuan, with this 7 million yuan, our family business can start operating again, and your mom won't be so tired."

  Yin Xuechen told his daughter about what he had done over the past two days in order to comfort her, and also to make amends with his wife and daughter.

  "Zhang Uncle? Which Zhang Uncle?" Yin Xian'er was perplexed.

  "As for Zhang Shigui, you've seen him before." Yin Xuechen said.

  "Zhang Shigui?" Yin Xian'er's voice suddenly rose, "Is it the Zhang Shigui who has a foolish son? Isn't he a usurer?"

  "It was him." Yin Xuechen did not deny it.

  "Dad, how can you borrow money from Zhang Shigui? I've heard that he's a loan shark and his interest rates are extremely high. It's rare to see 4 or 5 percent, usually it's 7 or 8 percent, and sometimes even more than 10 percent. You borrowed 5 million yuan from him all at once, can we really afford to pay it back?" Yin Xian'er said with concern.

  So-called usury refers to loans that charge particularly high interest rates, which are usually higher than the national legal standard. Although it is prohibited on the surface, it is very popular in private, especially among the people, and is euphemistically called folk lending or underground banking.

  But no matter how beautifully usury is dressed up, it cannot conceal the fact that usury is a man-eating tiger that does not spit out bones.

  As Yin Xian'er said, those several terms, such as "four points five points", "one hair" and so on, all refer to the interest of usury.

  What is meant by "four cents" is that when borrowing one dollar, after a month, you have to repay one dollar and four cents. What is meant by "one tenth of a cent" is that after a month, you have to repay one dollar and one tenth of a cent.

  If it is enlarged, the borrowed amount is not one block but one million. In a situation where the interest rate is 1%, you have to repay 11 million. It can be imagined how high this interest rate is.

  This is not all, usury is usually calculated with compound interest. In the same situation of one percent monthly interest, if you borrow one million yuan, then after a year, what you need to repay is not 1.2 million yuan, but more than 31.38 million yuan.

  The cost plus interest is enough to scare people to death.

  If it's not calculated according to the monthly interest, but daily compound interest, even if it's as low as one cent, then after a year, the principal of 1 million will need to be repaid with an additional 37,778,000 yuan.

  It's no longer a matter of scaring people to death, but rather scaring the ancestors out of their graves and finding a place to take cover.

  Yin Xian'er is a university student, and still one of the better-performing ones at that. She should be able to easily calculate the principal and interest of usury.