China’s Loansharks Offer Instant Happiness To Millennials For Pussy Pics

America’s interest-bearing money reads “Federal Reserve – In God We Trust”. In China, they got the same shit that read “Instant Happiness – In Pussy We Trust”.

Micro-loansharks in China are demanding nude selfies from millennials as collateral

ABC reports that China’s millennials are using nudes to secure loans for monthly installment programs.
Lexin’s online platform Fenqile allows customers to buy cars, phones, jewelry and even snacks on credit with paybacks in installments. Fenqile means “installment happiness” in Chinese.

Instant Happiness

(with Installment Payment)
Enjoy Now, Pay Later (It will cost you an arm and a leg, or Forever)
A 475-gram box of Oreo biscuits costs 50 yuan but can be paid back in monthly installments of 2.07 yuan over three years. Or wanted a jacuzzi? No problem, $10 monthly installments you could have that tub paid off in 60 years.
Fenquile users are then charged with annual interest rates of over 20%. China’s maximum legal annual interest rate is 36%. Companies that offer microloans charge up to 30%.
Apparently iPhone is one of most popular toys that lure Chinese girls into the shithole of Instant Happiness (for Eternal Indebtedness/Enslavement).
Dorrit Chen, Euromonitor International’s Consumer Finance analyst in China said millennials spending habits are different to their parents’ generation. Whilst their parents would choose to save, millennials prefer the buy-now-pay-later system.
“This trend is not only happening in metropolitans, but also [being taken up by] young generations from small towns,” she said.
“Ant Check Later — the [loan service] affiliate of Alibaba — as one of the most popular online credit service providers is a case in point,” Chen added. “[It] offers credit from 500 yuan ($100) to 50,000 yuan ($10,000) based on big data analysis from their Alipay account history.”
China now has 170 million people born after 1990 and 45 million have an Ant Check Later microloan account.
“Buy now pay later makes shopping easier and [more] convenient, which largely boosts millennials’ shopping demand as well as the large amount of delinquencies and subprime loans,” she said.
According to reports, loansharks understand millennial’s desire for “instant happiness” like the back of their hands, demanding nude selfies as collateral from their clients. And if loans are not paid in time, the companies blackmail and threaten their clients by saying they will leak the photographs online.
In 2016, a total of 10 GB of nudes from 161 women, aged between 19 to 23, were leaked online by lenders, reported China Youth Daily: –

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