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How it is a wealth transfer? Is there some fundamental right to risk free interest? Banks provide a service and those services cost money. If the value to the
by bradleyjg 11y ago
How it is a wealth transfer? Is there some fundamental right to risk free interest?
Banks provide a service and those services cost money. If the value to the bank of your money is less than it costs to provide those services than you need to make up the difference. No one is being "screwed".
- TheOtherHobbes 11y agoThe way it actually works is that if the value of a bank to society is less than the profit the bank wishes to make, even after making stupid and bad business choices, taxpayers need to make up the difference. Hence "screwed."