In cases where you are saving it, you are clearly lending it to them, in cases where it goes in and comes back out, they are making money on the transactions.
Why the craze of banks?!
2006-08-31 05:39:54 · 17 answers · asked by Piffle 4 in Society & Culture ➔ Religion & Spirituality
Quite the craptastic racket they're running eh? Whats worse, they take you money and pay you a measly 1% interest, but then lend your money to another person and charge them anywhere from 12-19%, pocketing the 11-18% and giving you 1%....
BTW, many people do not realize that it was the Knights Templar that started the phenomenon of banks....
2006-08-31 05:46:55 · answer #1 · answered by YDoncha_Blowme 6 · 0⤊ 0⤋
Did you know that you posted a Banking question in the Religions and Spirituality forum?!?!
Why the Craze of banks? It's not a fad, it's called keeping your money in a safe (compared to most other options) place that has the potential of earning you money back. (interest)
Would you rather us all keep our money stuffed in the mattress where we sleep so that it can be robbed by any criminal type that would feel so inclined? I don't think so. I will keep mine in my bank, where it earns interest each month and I (can't really capitalize that any more than it is) get paid money to keep my money there. Plus the safe thoughts that while I am at work earning more of that money, some lowlife loser degenerate isn't in my home stealing it from me because I don't use banks.
Let me ask you this, where do you keep your money?
2006-08-31 05:46:13 · answer #2 · answered by Kevin J 5 · 0⤊ 0⤋
Yes I knew that...think about where else would they get it. Also thats why the more you put in the more perks you get!! Did you know that bank only have so much cash in the banks and if you need to make a large withdrawal you have to order it??? Used to work at a bank and that amazed me
2006-08-31 05:47:16 · answer #3 · answered by oneluv804 2 · 0⤊ 0⤋
Congratulations! You just discovered the economics of banking. But what does it have to do with religion? A bit confused, eh?
2006-08-31 05:44:51 · answer #4 · answered by I didn't do it! 6 · 0⤊ 0⤋
Yes when you put money in the bank, you are letting them use it. That's why there are interest-bearing checking accounts... interest is their way of paying you to use their money.
2006-08-31 05:41:51 · answer #5 · answered by Funchy 6 · 0⤊ 0⤋
Uh yes.. this is not rocket science. That's how banks stay in business. It's the way it's always been done and is nothing new.
2006-08-31 05:46:32 · answer #6 · answered by CactusFlower 4 · 0⤊ 0⤋
They pay interest in exchange for you lending them the money...
2006-08-31 05:42:51 · answer #7 · answered by Truth speaker 2 · 0⤊ 0⤋
Did you know this is the Religion/Spirituality section? I think you want Business & Finance.
2006-08-31 05:47:02 · answer #8 · answered by STEPHEN J 4 · 0⤊ 0⤋
Uh yeh, duh. If you don't know that then you shouldn't be working with a bank. It's one of those things that I think most people have known all along, or something...what's with you, did you JUST discover that or something?
2006-08-31 05:43:16 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Banks have opperated like this forever. How old are you?
2006-08-31 05:41:40 · answer #10 · answered by peacemaker 3 · 0⤊ 0⤋