I believe this is the site advertised on itulip.com. I looked at that a year or two ago. Browsing through the people asking for loans (at the time) I was struck with the fact that many of these people were there because they weren’t considered credit worthy by regular lending institutions.
I decided the risk was too high and the return probably wasn’t pricing the risk appropriately. To me the site made no sense in light of easy credit. If credit gets much more difficult in the future I think the concept might be worth looking at again. It just seemed foolish to me to try to compete over what seemed to be mostly rejects from the banks who, as we know, will lend money to pretty much anyone.
If high inflation is in our future, I’d rather just buy silver as a hedge. It will perform better. I’m kicking myself for not buying a bunch of silver under $12 last year when I had a chunk of change. I still think it could be undervalued and will probably rise at a rate better than lending money to strangers.
