I asked my uncle who's an investment banker for one of the top 5 biggest banks in America whether he ever gets to swim in the big pile of money. He just laughed at me and said "there is no pile of money, most currency we have is in digital form". I said "oh that's lame" and he said "yeah, besides even if it wasn't, we loan that money out and keep a very small reserve so our bank doesn't hold much cash at all".
I said "what?". He clarified. Apparently banks don't actually hold onto your money, they LOAN it out and only keep about 10%. Why the FUCK has has no one said anything about this? Whats going to happen when this information becomes public IF it becomes public. What's going to happen when people learn that banks literally loan out YOUR money that you trust them with?
>Whats going to happen when this information becomes public IF it becomes public.
this is pretty much what the 2007/2008 financial crisis was
everyone tried to withdraw their non-existent money at once so the banks collapsed, then had to be nationalised by the governments to repay people
redditors like to circlejerk about Iceland's response which was to just let all the banks fail, what they don't like to talk about is how 20% of Iceland's population lost their entire life savings
Carson Thompson
>most currency we have is in digital form I learned that in high school. Your central bank is privately owned, if you didn't know. Guess by (((who)))
Kayden Butler
...
Adrian Young
...
Jason Hernandez
I'm sure shit like this always happened but if major banks are doing stuff like that what happens when people find out
What do you mean it's how they work, no it's not they keep your money safe. What gives them the right to loan out MY money
Henry Walker
mfdr
Jackson Bailey
They don't teach you about that shit in middle school. In middle school I learned how to multiply and divide not federal reserve shit
The fact you agreed to this when you signed up retard.
Christian Martin
This is common knowledge, memeflagger. There's no way you're older than 15. No way.
Kayden Nelson
We know.
That's why they go bankrupt the second enough people withdraw their investments.
Juan Scott
My dad works for Nintendo. He said they have a huge underground warehouse that was full of switches and they only released a handful so there would be lots of hype about it being 'sold out everywhere"
Brayden Fisher
I mean, that's how banks make money. It's also the reason why I don't keep my money at the bank. I thought that everyone knew this :P
Evan Gutierrez
>flag >retarded post >frog underageb& kill yourself kid. its personnel.
Kevin Cox
All outlined in the documentary Money masters. Pic related link related
Your about 60 yrs late fractional banking has been around for a while
Gabriel Kelly
the absolute state of amerimutt education
Luis Smith
My daughter is 12 and learning algebra. You're a brainlet.
Isaiah Torres
>What gives them the right to loan out MY money The contract YOU signed
Juan Evans
big if tru
Logan Martinez
Your a retarded underage.
Owen Nelson
>banking 101 >meme flag you must be at least 18 to post on Sup Forums
Eli Jackson
I was in Alegbra in 7th grade bro, you're just retarded
Jose Lewis
Yes that's how bank work nowadays. Go back to school you dumb shit. It's common knowledge.
Hunter Foster
This
Chase Smith
This
Leo Collins
by now it's impossible to tell if this is b8 or the actual children that killed this board are this retarded
Sebastian Parker
>20% of Iceland's population lost their entire life savings
Maybe we need to do this. Their savings aren't even real if the money isn't actually there.
Asher Bell
It's the latter.
Jeremiah Johnson
Then you obviously come from a family of freaks. Only loser autistic freaks do that kind of shit
People like you were bullied where im from freak. What kind of loser does that shit in 7th grade.
John Cox
are you five ? >see flag ok i see
Justin Bennett
Hate to break it to you but there are no Scrooge McDuck piles of money in the bank vault. They are empty. They mostly hold rolled change, office supplies, and at most safety deposit boxes. You usually can't withdraw more than $2-3k without prior notice so they can get the money in.
Jaxson Bailey
Fractional reserve banking.
Connor Wilson
You're obviously trailer trash, user.
Alexander Turner
Congratulations, your "uncle" described fractional reserve banking.
Chase Price
what a newfag
Parker Rivera
yeah, there's a legal minimum they have to keep on hand. it's a pretty miniscule percentage though.
this all started with goldsmiths, where youd leave your gold until you wanted it. they realized others money could be lent out. if the person wanted it back, they were reimbursed with other people's gold. it works well up until somebody rips you off bigtime, or everybody wants their gold back simultaneously.
thats why the kikes love crypto so much. they can do the same exact thing. and then once the inevitable crash occurs, they can shrug their shoulders because it's decentralized.
William Bell
Ummm “It’s a wonderful Life” user.
You might watch this.
It’s from a long time ago.
Nicholas Hall
Oh jeez, OP. This info has been public forever. How do you think "bank runs" happen? Everyone goes to withdraw their money all at once, only to be told "We don't have your money! I-it's in Bob's house, a-a-and Bill's house!"
Jackson Powell
The american education system has failed. 400 genders but not a minute spent explaining the federal reserve.
Jacob Howard
Could you please ask your uncle, tomato plant in or out?
Adrian Nguyen
Fpbp
Henry Allen
Welcome to Sup Forums
We've been talking about the banks for over 200 years
Carson Russell
jfc kid keep up the pace
Ayden Watson
>math is rayciss n' shit Haha.. You're a nigger, right? You definitely sound like one.
Nice projecting buddy. It's clear to me you are white trash
Grayson Rodriguez
I'm just not a fucking loser who does math. I never said it was racist. Enjoy having no friends
Kayden Sanchez
LOL babby's first capitalism. You think the bankers hold on to all that money for you for free. Fuck no, money left in the vaults is money lost. They use your money to invest and make money of it. >Why the FUCK has has no one said anything about this? Whats going to happen when this information becomes public IF it becomes public. What's going to happen when people learn that banks literally loan out YOUR money that you trust them with? Because it would be very dangerous for the elite. It would mean communism.
Caleb Sullivan
You...didnt know this?
Colton Long
>that awkward moment when you accidentally reveal to Sup Forums that you're a brainlet who doesn't read contracts he signs To answer your question, you gave them the right to loan out your money. I understand that you must be young and freshly redpilled (meme flag and pleb tier understanding of finance) so I'm going to give you some recommended viewing that should be enough to get you started: Zeitgeist pt 2 - explains fractional reserves The Big Short - pleb tier understanding of the housing collapse Margin Call - pleb tier glimpse of how high finance works
Xavier Torres
WHY THE FUCK DOES BOB HAVE MY MONEY, ASSHOLE?!?
Andrew Gomez
Congratulations. You now know why the Great Depression happened (partially), why the 2008 recession happened (partially), and why the world hates Jews and has hated Jews for millennia (completely).
Leo Ramirez
>what is fractional reserve banking the post
Josiah King
also if you go to a bank and withdraw a large amount of cash they will start asking you questions, like where you work at shit. I am not sure what happens if you say none of your business
Jaxson Nelson
5d palindrome check'd
Jaxon Ortiz
big if true
Jaxon Brooks
what is this babbys first red pill?
Juan Rogers
>ITT
Lincoln Sanders
Maybe typing while driving was a mistake. but at least I am not a faggot underage lime OP.
Hunter Anderson
why would reddit like letting the banks fail? Wouldn't that be capitalism?
Oliver Ward
Kek.. you didn't even know about fractional reserve banking and suck at math. Enjoy living in poverty, retard.
Wyatt Brown
Welcome to the redpill OP. If you want to go even deeper through the rabbit hole read about Fannie Mae and Freddie Mac and Bretton Woods conference.
Nicholas Torres
My dad said all I have to do is get a degree in something to justify putting me on the board of directors at his company dumbass.
Adrian Watson
Wewlad.. all that projection can't be good for you.
Anthony Cooper
Apparently OP has never seen It's A Wonderful Life?
It'll be on about 100 times real soon
Charles Brown
This is just pathetic. Nintendo?
Adam Turner
Honestly it depends on the nature and type of contract related to the account that the funds were deposited in in the first place and this will most likely vary from bank to bank >t. Former banker
Brayden Peterson
>they LOAN it out Are fucking kidding me you fucking retard. They have done this for fucking ever. Where do you think the interest on your savings account comes from? When you put your money in a bank you authorize the bank to speculate with it. They in turn guarantee your loot and give you a small percentage of the take.
KYS
Zachary Lewis
Id stille fuck her
Jose Foster
>I'm just not a fucking loser who does math >fuck learning stuff n sheeit HAHAHAHAHAA A LITERAL BRAINLET
Parker Diaz
By design. It's hard for the people to defend their systems if they don't even know of their existence.
Angel Sanchez
So much this.
Colton Jackson
...
Caleb Price
No shit? Christ take an economics class. they only have enough money on hand to keep shit a float. if anything happens then the FDIC (what ever the fuck it is now) picks up the bill and gives the citizens their money pay out when ever that is.
Charles Peterson
I tried walking big short. It was way to fucking complex. I get the whole idea of people taking money out of a bank but they mentioned something about the 1970s and shit and how they are bundling shit together to make it triple A rated. I prefer wolf of wallstreet lol
Says the one bragging about his sister is only 2 and knows theoretical dark matter physics.
Luke Ross
faggot flag
Mason Ross
>Being this retarded. I wish Reddit would stay in Reddit.
Samuel Bell
So your father realizes what an idiot his son is? That must cut pretty deep, user.
Sebastian Morris
It's called usury for a reason. Bascially I let you hold onto my hammer. You loan out my hammer to some chucklefuck. When I want my hammer you give me back my hammer. The system works as long as the hammer is not lost and I get my hammer back when I need it.
Jackson Rivera
This not a redpill, it is common knowledge.
Julian Gray
Relax hes just young >male brain isnt fully developed till age 21-25 Sad but true Then again i guess it does make him a LITERAL brainlet but its not his fault Also praise kek checkem
Connor Moore
>knowing useless shit to feel SMART N SHIEEEET Loser
Thomas Howard
t. underage FEMALE
Samuel Morris
jesus christ why did I click that
Henry Thomas
>what is FIAT currency
Grayson Miller
I was 14 once
Justin Garcia
>red pill >common knowledge Go back
Christopher Thompson
>Says the one bragging about his sister
So, not only do you suck at math but your reading comprehension is complete shit? You're so screwed, user. I actually feel bad for you now.
Blake Peterson
shoulda died with your people yesterday sandnigger
Joshua Taylor
That's the entire point of banks, why do you think your money collects interest in a savings account?
