RE: Banks Make Money the Old Fashioned Way....
January 28, 2014 at 7:00 pm
(This post was last modified: January 28, 2014 at 7:01 pm by paintpooper.)
(January 28, 2014 at 6:56 pm)kılıç_mehmet Wrote:(January 28, 2014 at 6:43 pm)paintpooper Wrote: Banks are criminal. Usury is criminal. The use of fractional banking is criminal. When you get a loan, the bank just poofs the money into existence, it is using a fraction of other peoples deposits to loan you money. You buy a 200k dollars house and you end up paying the bank like 400K over the course of 30 years, they have 200K profit for doing nothing, along with the fact that if you stop paying they then own your house (for the price of nothing) then resell the house again at interest, along with keeping all your payments and down payments. The biggest money scam, besides the creation of money, in the world.Well, true, but I think that its not just the banks. The people themselves are greedy, they get paid interest by the banks they deposit their money into.
Without deposits, they wouldn't be able to loan out anything.
The fractional reserve system was a system created in order to avoid things like the great depression, but now, it has gone on to produce more evils than good.
The FRB was created before the great depression so it actually had a hand in creating it. Being a private corporation and all that loans money to our government at interest, where as the government should be creating it's own money interest free.
People are greedy yes, but that is a manufactured culture to make us greedy, when everything revolves around money it is hard to not want to accumulate it. Control of the media and news helps to exacerbate this greed.
The amount of interest people make is nothing compared to the banks, and at the same time all our income and profits are taxed to pay for the interest payments of the FR and other government functions.
Banks do serve a function in modern society but not they way they are ran today.
