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That is what the average person thinks what happens but in reality the bank does not even care about your deposit. What actually happens is that the bank just c
by sumedh 4y ago
That is what the average person thinks what happens but in reality the bank does not even care about your deposit. What actually happens is that the bank just creates a new money from thin air by just adding another zero their account and then transferring some of that new money to the person who wants a loan.
The US fed does this too, they add a zero at the end of the existing account and create more money. Its all in a database no cash is being printed.
- thehappypm 4y agoSo you’re telling me that banks routinely scam the ACH system? Pretty sure this is 100% FUD.
- sumedh 4y agoWhy do you think its FUD, what do you mean scam the ACH system?