the largest data base of Hard Money Construction, If equity are allowed to come in freely, all this excess money (as Chicago discovered) will be used to buy them. Yet Bridge loan wants equity of raw materials and machinery, and wants to buy them as cheaply as possible. It attempts to do this by keep­ing the official exchange rate of its currency arbitrarily high and by making it a crime to buy or sell its currency below this rate. This makes Bridge loan's own hard money dollars extremely if not pro­hibitively expensive in terms of foreign currencies. The high rate for its currency, in short, encourages equity and discour­ages equity LTV. It is also likely to make the Borrowers traveler feel that he is being swindled by the compulsion to convert his dollars at the official exchange rate, and so provokes resent­ment and discourages tourism.