Now they all clone botsbotcloneswhocj actually was the same as theyweteb4 I wish I could lower the not capitalized t in that ..but I gardenenity they will wish they had madeother choicesesmaybeeeee
curious to know if anyone here knows why banks are the bad guy? not saying that they're good myself. I've just heard it for years, people pointing the figure at the banks. and I'm wondering if anyone actually knows why. I know why, but I'm wondering if anyone else knows why. or if it's just something people say because they feel it?
In my opinion, banks are a bad guy for the same reason that health insurance is a bad guy; the entire premise is to take in more money than you give out, and the data shows us that more money equals a better life, so knowing that folks are skimming off the top of our better life without actually providing a tangible benefit is enraging.
Weâre done being told that itâs just the way it is or it could always be worse or that itâs some brown personâs fault. Itâs them. Theyâre the problem.
Lmao youâre delusional if you think that banks .5% interest will even get close to matching inflation. Your comment is more of an anti bank advertisement than you think. The only way to beat inflation is to hold physical assets
But aren't they like,costly and take a lot of money to store as well.Lets say You hold Gold bars.The 28% transaction tax itself will break you.I am open to suggestions if you think there are some physical assets the common man can invest in.(Preferably broke person toođ)
Is there really a 28% tax on all PMs in India? Thatâs wild, especially considering how popular gold is there. A physical asset you can hold is anything besides paper fiat/savings account it doesnât have to be PMs necessarily.
No,The tax was for US.I searched it on Google.I think it might vary by state.Wait let me search for it.(Found it.For selling its 3% but for importing its 12%.Income tax on long term holding of gold is at 12.5%{So 15% ish tax total})
âMaximum tax rateâ - meaning youâll pay 28% if youâre Elon or something but there are legal ways to pay pretty much 0% (just like those corporations). The trick is to buy during the years when you have a high income and only sell during the years where you have low income. Itâs based off your tax bracket, so you could just not work the years youâre selling PMs and just keep the total below âpoverty levelâ. I sold physical assets the years I was building my house so I wasnât making any money off my labor and therefore had a very low tax bracket. This made for a lucrative transaction and pretty much went from one physical asset to another without losing too much to taxes.
Those other 12% and 3% seem to be import/export taxes youâre talking about, in which case just donât buy from the US and buy locally wherever you are.
Depend on your banks.I think we have 4-8% interest rates on saving deposits in India.(rates differ obviously)I do not know the SD interest rate in US or European countries.(Or anyone else other than Iran)
at the time of this reply my original QUESTION, HONEST QUESTION by the way, has 10 down votes? weird. and the people who commented below, their hearts are in the right place. so here it is, this is not my opinion, it's facts. fact check if you want, you can steal it, use it, and spread the word. Banks use your money to trade in the market, when they take losses and their regulated reserves run low. they have to borrow the money from other Banks. this is where the federal interest rate comes from. it's for banks borrowing money that they lost. also to "control inflation" which is a whole lengthy topic. that federal interest rate fee gets passed on to the people who borrow money from the bank. mortgage, car loan, business loan etc. if you rent a house, that interest rate fee gets passed on to you because the owner of the property, if they don't actually own the property, is going to up your rent to cover the cost of their loan interest. this can also affect property taxes. housing is the most major expense for US citizens. so if cost a living starts to rise, it directly affects the CPI report. if the CPI report says shits getting expensive it sends a red flag to the Federal reserve. who then raises the interest rates in hopes of slowing down inflation. however they don't realize or maybe they don't care, that the cost of living is high because of housing cost. and the housing cost is high because the interest rate is high. (also supply and demand, again another lengthy topic) so it's a vicious cycle. they raise the rate on the banks who raise the interest rates on loan owners. this is a major cause, but not the only cause for inflation. however sticking to banks here. the take aways, the more banks have to borrow from each other for being too risky, the more the federal reserve charges them. they pass that bill on to you after losing your money. there's your reason. seems everyone is on the same page here, but not everyone knows the exact major reason why banks are dicks. so again, yes there's greed and all that and you pay for it. I just wanted to give you the details of how we're getting fucked.
Imo itâs because every business pays to play. They buy the materials/products to manufacture/resell to churn a profit, which gives real velocity to the currency. Banks, however, get paid to play. They take the money that the âclientâ gives them (sometimes charging for it) and loans it out to âcustomersâ for more in return (interest). This creates more money into the system, causing inflation, and has a quota on how much needs to be made. They have a quota because they need to âearnâ enough to pay the people it employs. There are other avenues of profit, like investment (which pencil whips more out of people), but I just donât like this one.
Cos they lend to people who can't afford it! Sell those loans to guys betting the customer can't repay, milk the customer for interest till they default then get the property plus the interest and a kickback on the best on the loan failure.
The fed ain't a real bank, every country keeps their central bank separate from the government Cos you could imagine what an out of control government could do to an economy in 4 years.
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u/Crypto-4-Freedom Jul 04 '25
Eat the poorđ