Did you know when you deposit to a bank you are lending to them?

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   bgamallposted 13 years ago

   I bet you didn't know, with the way the banksters treat you, that when you deposit to the bank, it is a LOAN to that bank.
   
   You need more respect, after all, they are the borrowers!!!

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      weholdthesetruthsposted 13 years agoin reply to this

      You did not learn this in grade school, like the rest of us?

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         bgamallposted 13 years agoin reply to this

         Then if you learned it at grade school, perhaps you know that the banks caused the ponzi lending escapade on purpose, at basel 2 in 1998. I doubt if you learned that at grade school.

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            weholdthesetruthsposted 13 years agoin reply to this

            Seeing as how I was in grade school several decades before then, it seems your question is wholly silly.

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      AnnCeeposted 13 years agoin reply to this

      I think everyone knows that, b.  How're they supposed to make money if they don't use your money?  Go ahead and bury yours in the back yard if you want.

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         bgamallposted 13 years agoin reply to this

         But you get no return, and it is a crappy deal for the lender. The borrower should not have more power than the lender.

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            weholdthesetruthsposted 13 years agoin reply to this

            I don't get a return?   Since when?   What's that interest stuff, then?

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               Mr Tindleposted 13 years agoin reply to this

               weholdthesetruths,
               
               There is no real return from the interest received, but only a nominal return. The real return would account for inflation. After inflation is accounted for on most savings accounts, the real rate of interest is actually negative!

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      jerrylposted 13 years agoin reply to this

      Correct, and they use your deposits as reserves, which allows them to create more debt dollars out of thin air.  Roughly about 10 to 1.
      
      Most people believe that the banks loan out their deposits.  If that were true, no one would be able to withdraw their money, or write checks against their accounts.  Banks cannot loan out a persons money and have it on deposit at the same time.
      
      When they do create more debt dollars, it is the form of loans, and created on the borrower's promise to pay, when they sign a loan agreement.  So, in essence, the borrower is creating the money, but the banksters collect the interest.  Quite a scam don'tcha know?

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      Eaglekiwiposted 13 years agoin reply to this

      And Im thinking of increasing interest rates!!!
      
      Banks are thieves in armani suits

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         lovemychrisposted 13 years agoin reply to this

         YES! Loan-Sharks!

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      2besureposted 13 years agoin reply to this

      Why gets me is that when I transfer my money from PayPal to my bank, it takes three days for me to be able to draw on it! When I used my debit card, the money is deducted immediately. That burns me up!

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      Rochelle Frankposted 13 years agoin reply to this

      Yeah, I know that.
      You are also paying to have them protect and insure your savings, while having the convenience of paying for things by check or card. Hopefully you are deposited in a bank that pays some interest, as well.

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         jerrylposted 13 years agoin reply to this

         Rochelle,  I wouldn't count on the protect and insure too much.  Do you remember what happened to the savings and loans banks?  When things went belly up, it was the consumers/tax payers credit that paid for what the FSLIC didn't have enough to cover.
         
         I sure hope you don't think that the FDIC has enough to cover a financial meltdown.

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         bgamallposted 13 years agoin reply to this

         They are protecting their borrowing. Of course they are going to protect that which they borrow. But that is self interest. They could care less about the depositors.

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      Mr Tindleposted 13 years agoin reply to this

      Bgamall,
      
      I think you are right in your implication that many people don't know this. As I have mentioned in some of the comments I have made on your hubs before, it astounds me that so many people are so complacent when it comes to their relationship with banks. However I think a large part of it has to do with what your getting at. Many people don't understand banking and how it is supposed to operate!

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         bgamallposted 13 years agoin reply to this

         People are defensless against the banksters, but I think they are just starting to learn about their evil ways.!

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            lovemychrisposted 13 years agoin reply to this

            I learned a lot watching the hearings on Elizabeth Warrens' Consumer Protection Agency.....
            I KNEW they were doing this to me, but I didn't factually know, if you know what I mean !!!
            : putting your deposits in at well-opportune times, so that they will bounce, and you will get the $27.00 over-draft charge.
            
            I also saw how the Democrats were in favor of Warren, and most of the Rethugs attacked her relentlessly.
            Markey: "The banks have plenty of people sticking up for them....we need someone like you to stick up for the consumer."
            
            She is a tough cookie though..she would NOT let them bag her!

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               bgamallposted 13 years agoin reply to this

               The Democrats are feeling guilty about abandoning mainstreet, their historicl constituency. Republicans have no conscience and their true colors are coming out.

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   Mighty Momposted 13 years ago

   I don't think everybody knows that, although we all should.

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   bgamallposted 13 years ago

   Thanks guys for supporting this post.

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   Bizziebeeposted 13 years ago

   You know I never thought about it that way but you are totally right. It's like I'm loaning you all my money and you still charging me frivolous fees? Ugh!

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      bgamallposted 13 years agoin reply to this

      It is disgusting. Online banking probably will save you if you find the right banks.

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