2007-03-20 21:11:09 · 20 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
They literally "make money" by loaning money that does not even exist!
To clarify, please check out this awesome animated film (it loads right away, don't worry)--my boyfriend just showed it to be tonight and it fascinated me. Why isn't everyone informed about this? I was ignorant before the film and I'm glad I saw it. Please take the time if you can!
http://video.google.com/videoplay?docid=-9050474362583451279
"Money as Debt"
the banking/monetary system is structured in such a way that you fall into an endless borrowing cycle (from other banks) just to be able to pay off your RIDICULOUS interest charges from your main bank!
2007-03-20 21:17:57 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Interest paid on loans. Most people put their money in the banks in the form of checking and savings accounts at least. There are long term CDs that people can put their money into and in a set amount of time the bank will pay a set rate of interest back to the person.
Basically, banks have everyone's money and when a person wants a loan the bank gives it to them and charges them interest at a higher rate than the CDs pay.
I'm sure they have other ways of making money too.
2007-03-21 04:19:45 · answer #2 · answered by kgconcerned 2 · 0⤊ 1⤋
By conning the ordinary people with there over the top bank charges and not explaining how we could get these charges back Bank charges are a joke and should be banned..
2007-03-21 04:32:42 · answer #3 · answered by Bella 7 · 0⤊ 1⤋
credit card interest rates above 18% for people with 790 credit scores! no late payments and no over limit balances...then if you have the misfortune to bounce a check there's the $35 fee...and if you do a balance inquiry at another bank they even charge $1.50 for that! The first and last apply to me..and it is Wells Fargo where I no longer have an account!
2007-03-21 04:28:43 · answer #4 · answered by chiefof nothing 6 · 0⤊ 1⤋
Many ways:
1.) You deposit your money,and its supposed to grow interest rate over time. Meanwhile, they use the collection of the their customer's deposit as investments. Because they have a large pool of money, they get high returns.
2.) They issue loans: car loans, house loans, study loans...etc. These have interests in payment.
3.) You pay fees. (But very small profit here)
4.) They buy bonds, stocks, whatever... These all have returns in the future.
2007-03-21 04:18:19 · answer #5 · answered by Anonymous · 0⤊ 1⤋
charging you a fee for every little thing. I got charged $2 at an ATM for checking my balance!!!! and then my bank charged me another $2 for checking my balance at someone else's ATM
2007-03-21 04:21:58 · answer #6 · answered by Jerrica Starlight 5 · 0⤊ 1⤋
They don't "make" money, as they don't produce anything.
They "invent" money, and loan money that they don't really have (that money doesn't exist phisically), eaning more money from the interests. The system works and grows as long as you have an endless cycle of loan/payback.
2007-03-21 04:20:36 · answer #7 · answered by Anonymous · 0⤊ 1⤋
are you serious???? they charge for every little thing....they charge at our credit union to cash a check...if you are not on the account....Bank Of America charges $5.00 to cash a check (if you don't have an account)....give me a break!!!!
2007-03-21 04:17:00 · answer #8 · answered by Anonymous · 0⤊ 1⤋
they pay you pennies on your savings accounts and then lend you back the money with outrageous interest rates.
2007-03-21 04:17:56 · answer #9 · answered by Anonymous · 0⤊ 0⤋
By issuing credit cards.
2007-03-21 04:15:11 · answer #10 · answered by Judas Rabbi 7 · 1⤊ 1⤋