<![CDATA[No, seriously - banks basically profit in two ways: By lending you money they don't have &amp; by borrowing your actual money to play casino with.]]>RE: https://helvede.net/@jwcph/116945278131767459

No, seriously - banks basically profit in two ways: By lending you money they don't have & by borrowing your actual money to play casino with.

They should ALWAYS have to pay you for that & fees should be illegal across the board.

Right now they get to borrow your money FOR FREE, make out like bandits & then CHARGE YOU for their costs of doing business. Banks present zero benefits to customers at this point & the only reason we use them is because we have to.

]]>https://forum.fedi.dk/topic/5f1c52f3-4d87-48b6-956c-7ab8c9396330/no-seriously-banks-basically-profit-in-two-ways-by-lending-you-money-they-don-t-have-amp-by-borrowing-your-actual-money-to-play-casino-with.RSS for NodeWed, 05 Aug 2026 07:15:43 GMTSun, 19 Jul 2026 08:37:10 GMT60<![CDATA[Reply to No, seriously - banks basically profit in two ways: By lending you money they don't have &amp; by borrowing your actual money to play casino with. on Sun, 19 Jul 2026 14:06:10 GMT]]>@Frischling That's how it's supposed to work, but it doesn't. Today banks are allowed to be wildly over-leveraged, even post-2008 & they do make risky bets, but most certainly not on you or me (see: Bubbles) - and it isn't actually risk anyway, because they get bailed out if it fails. That is, their risks are paid off with taxpayer money, on top of possessing everybody's money for free.

Banks were created as a service but now they're basically a money siphon for the rich.

]]>https://forum.fedi.dk/post/https://helvede.net/users/jwcph/statuses/116947023989509241https://forum.fedi.dk/post/https://helvede.net/users/jwcph/statuses/116947023989509241Sun, 19 Jul 2026 14:06:10 GMT<![CDATA[Reply to No, seriously - banks basically profit in two ways: By lending you money they don't have &amp; by borrowing your actual money to play casino with. on Sun, 19 Jul 2026 12:18:28 GMT]]>@jwcph but banks can go bankrupt, the cost of lending money is taking the risk, that you won't pay them back. They are not allowed to take many risks anymore, which is why you have to provide securities in some way, or the cost of lending skyrockets.
Since we are in capitalism, that's the one way to get money that you don't possess, to do stuff that's too big for you at one given point int time. How else would you do things, that are too big for you alone?

]]>https://forum.fedi.dk/post/https://wehavecookies.social/users/Frischling/statuses/116946600465218267https://forum.fedi.dk/post/https://wehavecookies.social/users/Frischling/statuses/116946600465218267Sun, 19 Jul 2026 12:18:28 GMT