All About Savings - Money Box Episode 10
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HAWT. LOL joking, this video is actually very informative. well done!
cthile5 7 months ago
um, banks no longer work the same way. they now lend out up to 30x more than they actually have. if there was a 'run on the bank', ie if everyone tried to withdraw all their money, the system would collapse.
interestingly, banks are allowed to lend money they don't even have, and charge a pretty penny in interest on it. nice to be a bank, isn't it?
GoggleEyedOne 9 months ago
oh how I miss Life Support
dankru 9 months ago
With the exception of some emergency funds its better to invest in property or safe stocks than banks. Inflation will eat all or alot of your interest and the banks are permitted to lend 10 times the amount of your deposit (see fractional reserve banking article on wikipedia). This means the bank makes a whole lot more money than you get back on interest. If you want a real history of money watch the classic doco Money Masters available free to watch online
Snakelight 9 months ago
Anyone who buys an African elephant is a loser!
noswonky 11 months ago