3 ms·
No need for analogies. It's literally forcing the public to use - and give money to - private entities. Banks borrow money cheap. Can a regular person do that?
by beebeepka 5y ago
No need for analogies. It's literally forcing the public to use - and give money to - private entities.
Banks borrow money cheap. Can a regular person do that? No. Of course not.
It's clearly about control/money. Same thing
- rosndo 5y ago> Banks borrow money cheap. Can a regular person do that? No. Of course not. There are a plenty of cheap loans available to regular persons, but of course you have to be an adult to access those.
- smt88 5y agoDepositing money isn't giving money to a bank. It's exchanging money for highly liquid debt and receiving interest in return. Giving money to a bank is a relationship where the bank pays you. Also, the government already forces you to have auto insurance. This doesn't really seem any better or worse.
- throw0101a 5y ago> Banks borrow money cheap. Banks don't need to borrow money, they just create it: * https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625 * https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m... If you still think about banks re-loaning bank deposits you're living in another century. Fractional reserve banking hasn't been a thing since (at least) the 1960s.