I find this quote about planned bankruptcy from WWW interesting:
"It does however work uniquely well for Wannabes who are often young, with no assets and large loans secured against a paper license of no value. It is being used in the way I suggest and it does mean that other Wannabes CAN afford to outspend you all the way to SSTR and the far side of £100k."
It seems to me incongruent with his advice elsewhere to young wannabes to go modular because it's just as good or even better and costs much less. I think as short as a year ago, he generally would tell the youngsters to wait a few years and save some cash instead of borrowing. He'd tell them that modular is better, but now suddenly he sees a way to get a good deal on integrated training (must be integrated if it takes you to the far side of £100k) using other people's money with an illegal and fraudulent intention (never mind the moral issues, it's just fiat money). By the way, since it's worthless fiat money, please send me all of yours WWW and quit whinging about FTOs scheming to take it away from wannabes since it's not real.
Now the Robin Hood of Wales seems to promote, no forgive me, inform young wannabees about a competitive tool others will use to beat them to the top of the integrated training and sstr cv pile if they don't get with the program and at the very least consider using this illegal and fraudulent technique.
Personally, I think it's a bit of self indulgent grandstanding because I just don't think banks were or are making £80-100K unsecured loans to young asset-less Wannabes unless they had a parental guarantee and mum and dad's house as security. Maybe I am missing something, but wouldn't mum and dad still have to honour their contractual obligations to the bank even if junior decides, scratch that, intentionally plans from the outset, to take the WWW exit plan to financial bliss?
So....while the thread is humorous and entertaining, I think it is relatively useless as a financial planning tool for starry eyed wannabes who've been taken in by glossy FTO brochures and slick WWW financing scheme arguments. It makes me wonder if he has hedged all of his worthless fiat money and his gold bullion buying WDSs and WDOs from AIG and reselling their derivatives to the banks (Wannabe Default Swaps and Wannabe Default Obligations)!
For those calling for Danny to reign him in, forget about it. Look at the page view stats on the threads he moderates and imagine what they do for Pprune's ad rates!
Pprune towers must be awash in fiat money what with the FTOs having pried so much of it out of the hands of naive wannabes at exhorbitant profit margins especially after seeing that a Pprune banner ad will bring another wave of them next month with page views like these.
The irony, if not the pure entertainment value of it all makes me LMAO!