@baturkey they'd rather have $5 than have people who trust the banking system

@baturkey This. My dad signed me up for a credit union account when I was 5. I was 17 and they started charging a monthly "statement fee". I didnt catch it for 6 months. When I found out, I took the ~$200 I had left out and closed the account. I know it wasn't much, but when they start charging you $5 a month, that hurts. How can they charge you for the opportunity to sit on your money and invest it!? It makes no sense. They should be paying me interest for the loan...

The US banking system is in sore need of regulation. I had a savings account in school and it paid 7% interest. Now a savings account gets less than 1% interest. Doesn't even keep pace with inflation. Meanwhile that same bank offers credit cards with 23% interest and is reporting record profits. Give you nothing for your money but charge you much to borrow it. It's usery.

@Tay0 @baturkey Honestly, banks are such a scam. I work for a credit union and always urge people to make the switch because a CU is only as financially strong as its members and thus incentivized to help rather than hurt you.

Some banks are even offering NEGATIVE interest on savings, i.e. charging you to store your money. At that point a sock under the bed is literally the wiser choice.

@Tay0 @baturkey The difference between a bank and a credit union is a bank is for-profit, where a CU is not-for-profit (i.e. it can make a profit, but that's not its main goal). Banks absolutely want to part you from your money however they can.


Bankers. Children. Money:


P. L. Travers had some experience with bankers and banking as a child, it seems.

@baturkey Not just steals it, even what it doesn't steal, the bank controls. I've been fighting for months trying to get my bank to stop blocking my account over FOSS donations and crypto purchases.
Money in the bank is not your money. It is the bank's and they give it to you on their terms.

@baturkey this is also a case of wanting the new generation to believe value is created in circulation

@baturkey banks are invented to enable lazy people make money. by lazy people I mean lazy bank owners.

@baturkey They didn't learn how their currency is owned and regulated by private banks who can create money out of nothing, then lend it to the government that has to pay back the loan with your taxes.
@baturkey they should have made one kid deposit $5 and 10 other kids take out a loan for $5
@lain @baturkey I mean the loan kids would have come out ahead in this case lmfao
A reminder that the owner of the bank that took over the local bank was Jewish.
@baturkey one of my biggest conservative hurdles for me was realizing how fucking gay capitalism is. Doesn't help when most of the public faces criticizing capitalism are literal faggots which I know is done on purpose.

Even when I knew the truth I still argued on it's behalf because the other side was so repulsive to me.

This practice (stealing funds from minors) is nothing new. I experienced the same thing decades ago from a Savings and Loan. I pulled out what funds I had left and never did business with that institution or any of its successors - one of the many reasons not to do business with BofA. It taught me a valuable lesson not to trust financial institutions.

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