While this young lady may have some of her facts straight, her reality is a bit skewed. She has obviously never been in a position where she has been exempt from mainstream forms of credit, had to pay for a bounced check fee, a utility reconnect, or even experienced difficulty purchasing a tank of fuel to get to work for the rest of the week. Pawnshop loans have their place in society, especially with current credit markets. Why condemn them when no reasonable alternative is offered or available? This type of soap box thinking proves most harmful to the consumers they are actually trying to protect. Pawnbroking is still the most civilized form of short-term credit.
Anyone with an interest in the United States Bullion Depository, which by the way has not been audited in 50 years, will greatly benefit from taking the time to read this expertly written article.
One of the authors scenarios is:
FORT HOCKS: In this scenario, an audit will show that a significant portion of the citizens’ gold has been mobilized by the Treasury and / or the Federal Reserve; in other words, that it has been hocked at the global financial system’s pawn shop. There are many possible means by which this could have happened; we list only a few.
Could it be that the global financial system is operating its own pawn shop?
From borro.com, the first truly online pawn shop in the UK:
Attitudes to Pawnbrokers Are Changing Fast
July 22, 2009 · Filed Under Short Term Loan
Attitudes to Pawnbrokers Are Changing Fast
Before the Second World War, Britain had more pawnbrokers than it had pubs. Then the welfare state happened! Now attitudes are changing again. The rise in popularity of car boot sales and eBay has made people more comfortable with dealing in their own possessions.
These days, it’s cool to turn your assets into cash online, and also to use your personal assets to negotiate the short term secured loans and personal loans that the banks won’t touch since they gambled all our money on spurious get-rich-quick schemes.
Even high net-worth individuals, fed up with the attitude of credit-crunched banks are using their assets as security for collateral loans. Paul Aitken, CEO and Founder of Borro.com, the world’s first online pawnbroker commented, “It’s not just brand names like Ferrari, Rolex and Bulgari we’re seeing. In recent months we’ve advanced asset-backed loans against sculptures and paintings by some of the the most distinguished names you’ll hear in auction rooms, as well as some extremely rare military, entertainment and sporting memorabilia”.
Because Borro.com operates online 24/7, the benefits of pawnbroking are now available to a more upscale and discerning clientele – in a totally discreet, convenient and safe manner. And it also fast! All goods are shipped by pre-paid, fully insured courier, and all monies are transferred electronically, into any UK bank account nominated by the borrower.
Borro.com is UK government regulated, and all Borro contracts are approved by the Office of Fair Trading. Borro contracts are totally straightforward and easy to understand. Unlike many alternative short term loan contracts, Borro never levies any nasty hidden extras, such as start up fees, admin charges, early settlement fees (you can pay off a Borro loan whenever you like, and you only pay interest during the time you use the loan), late payment fees or default penalties.
With a Borro loan, you can never get in over your head, or take on a debt that you can’t afford. Even if you decide not to extend or pay off your Borro loan, you will be given ample notice if your pledge needs to be sold to settle your loan, and any cash left over is sent straight back to you.
With Borro.com, there are never any credit checks, intrusive questions, bureaucratic delays, debt collectors, court actions, bailiffs, asset seizures or repossessions - ever!
If you want easy cash, and fast cash at low rates in the form of an affordable, low interest rate loan, visit online pawn shop, Borro.com. For a cheap, no risk short term loan, phone leading short term loan provider, free, on 0800 756 9877.
I’m attending an Expo by the National Pawnbrokers Association giving seminars to pawn shop owners and having a Pawnonomics book signing. The NPA has launched a new public relations website for US pawnshops.
This site is filled with valuable pawnbroking information and will continue to evolve with the industry. Pawnbrokers worldwide should be proud to have this site available to government and the media. Pawnshop customers should benefit by having this information available on the site. Great job NPA! This site is fine example of REAL consumer protection in the US and around the world.
Here’s some interesting pawnshop history from the Jewish Times of South Jersey jewishtimes-sj.com:
In 1927 Irwin and Tillie Wood opened a pawn shop in Atlantic City. They catered to those who were in need of small sums of money and didn’t have access to a bank. Over 80 years later Wood’s Loan Office continues to thrive under the direction of Martin Wood and is one of only two licensed pawn shops remaining in Atlantic City.
ELIZABETHTOWN — City officials soon may require pawn shops and pawnbrokers operating within the city to use a trackable electronic records system in an effort to curb theft and recover stolen property.
Council members on Monday approved the first reading of an ordinance amending Chapter 112 of the city’s Code of Ordinances. The amendment would require pawn shops and pawnbrokers to join LeadsOnline, a database that tracks stolen property and those suspected of the theft.
Elizabethtown Police Department already has established a partnership with LeadsOnline.
By requiring participation in the database, the proposed ordinance would simplify the department’s search for stolen goods, which may pass through a pawnbroker’s hands, EPD Spokesman Virgil Willoughby said. The department would have access to the inventory of each store and could match serial numbers with those of stolen items.
Under the ordinance, information is to be updated every 24 hours.
The program is not new, Willoughby added. Some pawn shops within the city already have taken the initiative to work alongside police.
Ron Mullinix, an employee at Uncle Dan’s Pawn Gun & Archery, said the shop has been using electronic records since around 1999 and is a part of the LeadsOnline database.
“We’ve been doing this for years,” he said.
Donna Kirchhofer, owner of E-Town Pawn & Gun, said her shop also is on the database. Kirchhofer’s store, alongside Uncle Dan’s, was one of the first shops to add the database, she said, and she’s been using it for at least three years.
“I think it’s a great idea,” she said.
Kirchhofer said pawn shops often are willing to work with law enforcement agencies in recovering stolen property, though that’s not always the image attached to the shops.
“Contrary to popular belief, I’d like to think we stave off some crime,” Kirchhofer said.
Pawn shops have 30 days upon adoption of the ordinance to join the database, and failure to do so will result in a misdemeanor charge. If convicted of the charge, pawn shop owners could face fines of $25 per day until the electronic system is established.
But Willoughby said the goal of the ordinance is to establish partnerships, not punish business owners.
“We just want to have a good working relationship with everyone in town,” he said.
WICHITA — Central Kansas pawn shops report giving out more short-term loans to cash-strapped customers willing to trade wedding rings and other luxury items.
Money Town Pawn Shop in Wichita recently loaned Lisa Boland money in exchange for her wedding ring so she could take an emergency trip out of town. She got back the ring after paying back the loan.
National Pawnbrokers Association vice president Dave Crume says he’s seeing an increase in these loans at A-OK Pawn in Wichita.
He estimates loans have increased by 15 to 25 percent.
Money Town owner Barry Ellis says about 70 percent of customers eventually buy their items back.
Future of La Grange pawnshop remains up in air
Propose zoning change would not stop opening, owner says
By Noreen S. Ahmed-Ullah
July 3, 2009
If banning pawnshops doesn’t do the trick, then a proposed effort by some residents to help a businessman recoup his startup costs may be enough to prevent one from opening in downtown La Grange.
La Grange Plan Commission officials approved a revision in its zoning code Monday, which included restricting pawnshops in its shopping district around La Grange Road and Ogden Avenue. But questions remain whether that could really bar a proposed pawnshop from moving in next door to the historic Village Hall.
The village issued a business license in May to Andrew Grayson, who recently managed a pawnshop in North Riverside, after determining nothing in the zoning code prohibited him from opening All-Star Jewelers in downtown La Grange. But then downtown business owners and village residents complained to officials that the store would tarnish the image of their town, would bring criminal activity into the neighborhood and would not be a good fit.
The Village Board will vote on the zoning code changes July 13. In the meantime, officials are trying to figure out whether the ban can really stop Grayson’s pawnshop from opening this month.
“The Village Board has yet to discuss this matter,” Village Manager Robert J. Pilipiszyn wrote in an e-mail. “It is not appropriate to speculate what the Village Board’s deliberations will be.”
But Grayson said his attorney has told him the zoning code changes will not affect him. He said his attorney has been approached by village officials regarding compensation, but no specifics have been discussed.
Zoning code expert Ronald Cope, author of the 2008 edition of the “Zoning Handbook for Municipal Officials,” said the village can’t deny issuing a business license to Grayson now or even next year solely because of the zoning code changes.
“It would be considered a lawful non-conforming use because it existed prior to zoning code revision,” Cope said.
At the Plan Commission meeting, one resident proposed that La Grange residents donate money to Grayson, who has paid for an architect and engineer, and signed a lease on the store.
“I don’t view it as an incentive for him to leave,” said David Bier, 44, who made the proposal and thinks negative perceptions about pawnshops will hurt the village’s image. “If he’s not going to be allowed to open, it doesn’t seem fair that he spent money and then mid-stream everything changed course on him.”
Bier’s idea drew applause from others who were moved by Grayson’s story. He told residents he’s an honorably discharged Marine; his wife is pregnant; he signed a lease and put money into the business after village officials issued the license.
But La Grange Business Association President Michael LaPidus, who has led opposition to the pawnshop, thought it would be a dangerous precedent. He thought the landlord for the vacant store at 71 S. La Grange Rd. should “take responsibility” for signing a lease with Grayson for a business that LaPidus believes would hamper downtown development.
“I’d hate for people to get the impression that we’re paying for him to go away,” LaPidus said. “I’m not sure that’s the solution.”
