The author posted a question in Business, Finance
Why do many banks lend money now? and got a better answer
Response from
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With interest
With interest
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it's very profitable for them
it's very profitable for them
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To make more money!
To make more money!
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That's what gangsters did in the early 90's. 5967011 Now they are legalized.
That's what gangsters did in the early 90's. 5967011 Now they are legalized.
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They live off the interest.
They live off the interest.
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The banks borrow money from you at one percent and lend it to others at a higher rate.
The banks borrow money from you at one percent and lend it to others at a higher rate.
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1 They are forced by the Central Bank 2 It is profitable for them the rates are regulated by them 3 Credit is in vogue now.
1 They are forced by the Central Bank 2 It is profitable for them the rates are regulated by them 3 Credit is in vogue now.
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Because for the bank, money is a commodity, so they sell it and the cost of credit is the bank's profit
Because for the bank, money is a commodity, so they sell it and the cost of credit is the bank's profit
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Silly question. They give it to you for a reason. You know you have to pay back the credit and the interest on it is ridiculous.
Silly question. They give it to you for a reason. You know you have to pay back the credit and the interest on it is ridiculous.