The Longest Running Scam In Human History

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blue_ladybug

blue_ladybug

Senior Member
#2
Feb 21, 2014
70,924
9,673
113
#2
Money (love of)

The root of all evil..

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

dcontroversal

Banned
#3
Dec 12, 2013
46,515
20,402
113
#3
claysmithr said:
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.
Click to expand...
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

Musicus

Senior Member
#4
Oct 26, 2017
314
39
28
#4
dcontroversal said:
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!
Click to expand...
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

zeroturbulence

Senior Member
#5
Aug 2, 2009
24,653
4,317
113
#5
claysmithr said:
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.
Click to expand...
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.
 
C

claysmithr

Guest
#6
#6
zeroturbulence said:
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.
Click to expand...
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.
Click to expand...
https://www.google.com/search?q=banks+create+money+out+of+thin+air
 
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