Essays On Savings Without Interest

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Comments have not been reviewed or approved by any advertiser, nor are they reviewed, approved, or endorsed by our partners.

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?

This is how 97% of money (in the UK) gets into circulation. When banks “make money”, they literally “make money”.

Thus, everytime the bank makes a loan, the value of all the money in circulation is devalued by inflation as a result of the addtional input of money into circulation via the loan made. It’s not entirely accurate that banks are merely loaning out my savings to someone else at a higher rate.

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.He writes for an interest rate-tracking Website and maintains his own personal finance blog, the Realm of Prosperity.We invite readers to respond with questions or comments.To learn more or modify/prevent the use of cookies, see our Cookie Policy and Privacy Policy.Have you ever wondered why your checking account is free?That’s because banks can’t make money until they have your money.Remember those days when ING Direct and other high yield savings accounts offered interest rates of five percent or more?Now, think about this process repeated with millions of banking customers and billions of dollars.Yes, banks make a lot of money banks from charging borrowers interest, but the fees banks change are just as lucrative.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.They therefore actually create money out of nothing, thin air!


Comments Essays On Savings Without Interest

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