Comments (2)

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  fresheneesz Reply

  Well, one problem with something he said is “without your consent”. In fact, by putting your money in a bank and expecting to “earn” interest on your money, you are in fact giving consent for them to lend it out. You aren’t going to get interest if you don’t allow your money to be lent out. One of the frauds of banks is pretending that there’s 0 risk of default, and having no plan for what to do when there is a default. If deposits were rationed equally among depositers in times when demand for deposits outstrips deposits in reserve, this wouldn’t be as much of a problem. But instead, banks give out money as if they have it all, until they are out of money and simply close their doors. Early bird gets the worm, latebirds get fucked. Not exactly fair.

  I suppose another problem is banks getting themselves into actual insolvent territory. If they could sell their loans and gain funds, they wouldn’t collapse.

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  March 16, 2023 at 8:46 am
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  entilfeldigfyr69 Reply

  The alternative is to buy a big safe and store your money physically.

  Banks offer a service, and with everything in life that is free, like opening a bank account and depositing money, you and your money is the product.

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  March 16, 2023 at 8:46 am