Essays On Savings Without Interest

Obviously, it’s not because your bank is feeling charitable. The kind of money that leads to the obscene Wall Street bonuses we so often hear about.But banks make money even when they’re not involved in Wall Street’s multinational investment deals and billion-dollar hedge funds.I understand this is off subject nevertheless I simply had to ask. Banks make money because they loan out at least 10 times more money than what they have.

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The amount of interest the banks collect on the loans is greater than the amount of interest they pay to customers with savings accounts—and the difference is the banks’ profit.

Your bank may have paid you $150 in a year’s time but they earned hundreds or thousands more from the interest on loans (made possible with your money).

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It is not our partner’s responsibility to ensure all posts or questions are answered. Banks can print around 10x more than what you deposit to lend out!! for them If your 10k makes 1% and they use it to mortgage you at 3% in a year…they just made a profit of $2900 or 29% on YOUR money!! Does running a blog such as this take a massive amount work?

In reality, commercial banks literally create money when they make loans.

In fact, about 90% of this nation’s money supply is created by the commercial banks, not the FED, as is popularly believed (the FED merely creates the base “reserves”, which is a meaningless term becaues the so-called “reserves” are just more paper.Understand how banks work, however, and you’ll know where to lookout for fees and how to avoid lining banks’ pockets by paying more interest than you’re earning.About the Author: Simon is a recent college grad living in Brooklyn.By continuing to use this site, you consent to the use of cookies.We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services.You can’t have paper reserves to back up paper, that’s just nonsense…) Anyway, your nice, friendly neighborhood bank actually creates money out of thin air when you sign on the dotted line for a loan.It is commonly said that we have a debt-based money system in this country, well, that is why. In other words, the money for a loan springs into existence at the moment I borrow it, and vanishes out of existence the moment I pay it off.We're sorry, the page you were looking for cannot be found.Please feel free to contact us if the problem persists. We use cookies to make interactions with our website easy and meaningful, to better understand the use of our services, and to tailor advertising.For further information, including about cookie settings, please read our Cookie Policy .

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