The Longest Running Scam In Human History

[claysmithr]

https://www.stevehart.co.nz/how-banks-create-money-out-of-…/

Imagine having the power to lend out money you don't have, then have it be paid back to you with interest. Not only would you become rich, everyone else would become your slave

Welcome to the now, the biggest running scam in human history.

 

[blue_ladybug]

Money (love of)

The root of all evil..

This been happening for milennia.. ain't no big surprise..

 

[dcontroversal]

https://www.stevehart.co.nz/how-banks-create-money-out-of-…/

Imagine having the power to lend out money you don't have, then have it be paid back to you with interest. Not only would you become rich, everyone else would become your slave

Welcome to the now, the biggest running scam in human history.

Amen.....

Banks --->Hold your money and give you 1% to 2.5% interest and loan your money back to you or out from 4% to 25% interest......all 1's and 0's...........what as scam!

 

[Musicus]

Amen.....

Banks --->Hold your money and give you 1% to 2.5% interest and loan your money back to you or out from 4% to 25% interest......all 1's and 0's...........what as scam!

US Gov't holds it and gives you NO interest, then tells you they're doing you a favor if they "give" you some of it back.

 

[zeroturbulence]

https://www.stevehart.co.nz/how-banks-create-money-out-of-…/

Imagine having the power to lend out money you don't have, then have it be paid back to you with interest. Not only would you become rich, everyone else would become your slave

Welcome to the now, the biggest running scam in human history.

I don't know who that guy is but his explanation doesn't make sense....

He says the bank just types in the amount of a loan into a customer's account and then when its paid off, it zero's the balance and keeps the interest.... BUT the customer is paying back the loan with real money..

If the bank really did create the loan from thin air then it's GAINING the amount of the loan in real money when it's paid off. So yea... that article is BS.

 

[claysmithr]

I don't know who that guy is but his explanation doesn't make sense....

He says the bank just types in the amount of a loan into a customer's account and then when its paid off, it zero's the balance and keeps the interest.... BUT the customer is paying back the loan with real money..

If the bank really did create the loan from thin air then it's GAINING the amount of the loan in real money when it's paid off. So yea... that article is BS.

There are plenty of articles about it if you do a google search. Here are 2 more.

https://www.forbes.com/sites/france...gic-money-tree-is-not-cost-free/#2804b15d3073

https://www.pbs.org/newshour/econom...reated-out-of-thin-air-are-necessary-not-evil

They create "money" when they lend.

https://www.thebalance.com/is-the-federal-reserve-printing-money-3305842

The Fed’s other tool is open market operations. The Fed buys Treasurys and other securities from banks and replaces them with credit. All central banks have this unique ability to create credit out of thin air. That’s just like printing money.

https://www.google.com/search?q=banks+create+money+out+of+thin+air

 

[claysmithr]

http://imgur.com/a/s7eLUCC

Since money isn't backed by Gold anymore this problem is worse. The rich get rich, poor get poorer.