Bob has an idea on how to make some extra cash. He pawns $30 at the local pawn shop for $15. Then he goes to the pub next door and sells the $30 pawn ticket to Jim for $20. It looks like both make money on the deal. Is that true? Who gets the short end of the transaction? Is it Bob, Jim, or the pawn shop?
If Bob wins $5, and the pawn shop gets even (when the ticket is redeemed) Jim must be the loser.
(He is dumb, too: he pays $20, and then $15 to the pawn shop, in order to get $30...)
Posted by e.g.
on 2006-04-07 08:24:14