Topic: Banks have money but they don't cooperate - page 3. (Read 605 times)

The OP and the story about his friend makes no sense, the whole idea of bitcoin and the market in general is to allow ourselves to become our own banks, so what is wrong with banks acting like they are supposed to?

If a person asks money from the bank then they are risking being denied that loan, a very common occurrence, since every single day there are people out there which believe they have conceived this amazing idea to make money, not realizing that ideas are a dime a dozen and what matters is the execution of their idea so they can produce the projected profits.

If you feel the bank is cheating you and taking your money... never do business with them, stay away from them under any circumstances. The bank has never put a knife to your throat and forced you to borrow money from them or forced you to deposit money in the bank. If you feel like you don't fit within the rules they set, don't participate in their game. And if there is no one to help you when you are in trouble and need to go to the bank, then you need to accept the game they create.

I don't understand why we always try to badmouth and blame banks when we can choose to stay away and ignore them. Like fiat money, if it's bad, it makes you poorer and poorer, you just need to stay away from them and choose things that you think can make you rich.

I think let it be more flexible and maybe that's what OP means here


True, they will indirectly become money-making robots for them by signing such contract clauses. I think there are many other solutions that are better without having to bind yourself with the bank.

In carrying out an action we must be careful, because we don't know if we take an action there will be consequences that we will face, but in making a decision with this bank, it is something that can be said to be something that does not need to be paid attention to, because if the bank already has a big name, chances are that it can run well without harming its customers.

However, it is not impossible for banks to take more profits from their customers, so here I think we have to be careful in reading the contract, in cases like this the family should be there and know the contents of the contract, so that there are no consequences for our customers experiencing losses or something like that.

firstly i think OP's "friend" story is B.S and just trying to whinge about banks

firstly rational common sense, banks do give out loans but want monthly payment back

so if a idiot approaches a bank and says "gimme lump sum, and ill give you back profits in x years" of course the bank will say no, as thats not how bank loans work, its no secret agenda, its standard operation publicly known for decades/centuries

a guy saying he is knowledgeable in trading but needs to take out a loan obviously is not profitable to be self invested
the whole "people don't have resources to use their knowledge for make money from money" is a red flag about the person
those with knowledge can scrape together a small amount and turn a profit, and then rinse and repeat..
those that cant do this are those that cant make a profit for themselves so want debt or get into debt or want to abuse other peoples money
its not like he had to buy a business premises or expensive tools or hire people.. so he could start small, self funded and grow

a guy saying he is knowledgeable in trading but asks for a lump sum to then DCA, is not that knowledgeable.. if you have a lump, then you just buy the dips.. you dont DCA at random prices that increase over years
its like the "friend" is new to trading and just learned the word DCA and now pretends to be an expert because he says a word DCA

a guy saying he is knowledgeable asking a bank for a silly request hasnt done his research on how banks work or make offers

i feel the OP or "friend" has no clue about trading or investing or banking and feels angry that banks dont just hand out free money as thats what the story really sounds like.. the op/friend believes that banks can and should hand out money for free without objection

Even if we were the most careful in reading the contract, there are loopholes these banks can go through just to get the most out of you and your money. This is why illiterate people are the most vulnerable with this types of contracts and institutions such as banks tend to capitalize or take advantage of them.

Better to always have a lawyer prepared if you plan on signing any contract any time soon.

Yes, bro, don't be careless in every action you take, especially in relation to banks, don't let us be fooled by their written agreements because we weren't careful when signing the agreement, maybe there was something we missed in the letter that we didn't read, maybe that's it. can make us feel at a loss, because if they have collaborated with us, they automatically have nothing to lose, what they get is only profit, therefore they have to be careful and careful so as not to have fatal consequences in the future.

That's right, and I agree and sometimes there are items that are tricky and must be examined in detail because after it is signed it cannot be changed back and later on the way when we feel strange how different is it like an agreement and there are other things that must be borne by the borrower will be different unless there is a revision if one thing is found or another in the future. Must be careful for sure.

I don't like a TLDR thread with paragraph that are not appealing to read but I will have to go with what you summarized.
However, we need to get something straight. There is difference between a bank and a venture capitalist. The banks are profit oriented individuals that are ready to give you money but you must have an equivalent collateral in case you default but a venture capitals and Angel investors can like your idea about what you have on the table and fund it for a small share or percentage from what you earn without asking for any collateral, this is what banks don't do, they are only interested in their capital + interest.


Sometimes, the way banks works I don't really blame them, the financial system is government, the president appoint to the Central Bank governor and the Central Bank governor give orders to commercial banks in accordance with what the government will like, whatever the banks are doing today, it all goes down to what the government want them to do even though they are profitable.

The government wouldn't help out and the banks wouldn't help you either, you are caught up in deep shit of matrix.

I read it to the end and there is nothing new, from the very beginning to the end everything revolves around the fact that the banks didn't want to lend money to someone who showed up at their door and said "I have a great idea, give me money!". Whatever idea/business it's in case, banks have their own conditions under which they grant loans, and it is ridiculous to just go to the bank and ask for money without any business plan, or with a business plan that does not have any guarantees/collateral.

I agree that we should not be naive when it comes to banks, their main thing is making a profit. But if someone has already chosen to take out a loan (for anything), he should look at the conditions (ToS) of those loans if he doesn't want to be surprised once he starts paying it back. That's something we should all know, don't sign a document until you read everything it says, even the small letters. Especially when it comes to money and all other important life stuff.

That's quite a long post. I didn't finish reading everything.

Your friend didn't know Bitcoin and gold's price would increase. He was merely making a prediction. Predictions may or may not turn out right in the end. In which case, you can't just present your predictions to the banks in order to get money from them. That would be ridiculous. Banks would quickly run out of money if they allow that. Banks know how to measure and take risks.

Forget about banks' cooperation. Their interests always come first. Also, they don't actually work for you. Let's not be naïve. The truth is that they're creating wealth out of you.

First of all, banks don't have free money to give out to everyone who request for loan. They are using people's assets to run their business and that requires very careful management. They reserve the right to either approve or reject your loan for a reason known to them. You don't expect them to grant loan to every applicant who applied for it even without meeting the requirements.

Secondly, your friends probably have no tangible assets worthy of amount they are requesting for which could be used as a collateral in case they failed to pay back at the due time. Banks don't just issue loans to random people/customers without collateral, it's very necessary to have one if you want your loan application to be approved. Non-collateral loan can be obtained by loyal customers though the amount is very insignificant.

Finally, using investment especially in crypto as a purpose for requesting for the loan is very dumb to be honest. Even as an individual, I won't grant you loan on that purpose talk more of banks with high and professional risk management experts who are well familiar with the risk involved in that. They would have still considered your friend request if he has assets to be used as collateral despite the unconvincing reason/purpose of loan because they can seized the assets in case of failure to pay back.

This is the problem with usually peoples want free money which is not possible through banks if anyone want to have loan then surely he needs to show something collateral or having job which is going with long term contract without any solid thing loan is not coming because banks are working with their own system, and they have to fill all procedure as well which must for them mostly when peoples fail to complete their requirement's then starting crying they are no cooperating which is completely useless.
Banks never give any loan without any solid collateral with in developing countries we are having politicians or businessmen those take huge loans and then run away which is the worst thing but happening in third world.

Ah yes, trust the random dude who called up and said a random asset would go up infinitely high. Yeah, in hindsight it seems true, but banks don't look at things after it has happened, not that they can in the first place. If they could they would've probably been able to control the entire worlds money flow.

Regardless of whether your friend had knowledge or just assumptions, banks wouldn't work ever with him/her if they didn't have anything similar to collateral that could work. Even slapping them with a bunch of documentation and paper about how the market would go wouldn't work because in the end, those are all assumptions. This kind of imagination only works on hindsight op.

Did your friend offer any security or collateral to the bank for the loan he wants to access? Banks will not give you loans unless you have an asset they can use to recover the money if you fail to repay it at the appointed time. Banks are not non-profit organizations that give money to people without securing it.

Most banks will see Bitcoin as a very risky investment due to its volatility. There is no certainty that your predictions about your investment will happen as planned. However, I don't think taking a loan to invest in Bitcoin is a good idea..it is better to invest with what you can afford because you cannot predict the outcome of your investment. Your friend should consider using other strategies such as DCA to invest in Bitcoin.

Banks have their own risk assessment procedures when it comes to loans. If we're talking about proper banks, they normally want to see some financial stability (like a long-term job contract with monthly salary) to feel confident that this person will pay them back. They can't rely on what someone wants to invest it and how that works out. Even if Bitcoin grows and assuming that a bank agrees that it's a potentially good investment, there's a risk of this person profiting and going AWOL, ignoring the bank and the loan. Or that person might get hacked, lose access to one's coins, become a scam victim etc.
They just can't think of all those things and hope they won't happen. So it's not just about knowing good assets, but also about confidence that a particular person who allegedly plans to invest in those assets will pay them back.

If your friend invests like BTC or gold with the amount to be bought by the bear then it needs large fresh funds, if you ask for loans to friends or family it may be heavy for various reasons. if there is an alternative asset that is possible is to apply for a loan to the bank with various reasons for the form of business that is in accordance with bank rules even though at the end of the story the funds are also used for investment in BTC or gold in addition to the main business.

Who is smart, he is dominant. If we are smart first, banks will think about providing loans and they will be even smarter in selecting and giving strict rules when it is done by asking for elegance that the estimated value of our assets is only 70% given from the proposed loan value.

So your friend came from future right? That's not how things work mate because banks don't just listen to those who say that something will move up after sometime and they believe that the upward movement is going to take place in future.

Banks don't give loan to the ones who don't have valid collateral because if that person who takes loan ends up losing the money then how would banks be able to take that money back? Your friend was ambitious, and in ambition he asked banks to give him loan but they refused the loan.

If your friend had valid collateral and he might have offered them the collateral and ask for low interest loan and profit sharing then the banks might consider his application but he had nothing and wanted to borrow money and banks usually ignore such people's demands.

That depends if the bank is internationally connected. Holding shares in the NY stock exchange e.g. or is owned by a bigger bank which go belly up.
Local banks without those entanglements are good. Even in a global melt down.

It is normal that the bank will not give a loan to your friend because your friend does not have valid evidence for showing he has really some skills.  And also your friend has no collateral.  There are currently many banks in the world who have gone bankrupt for defaulting on loans despite having collateral. Why should a bank give a non-collateral loan to your friend?
It's totally a general common sense two think that, like if I ask you 5000 dollar and I know you have 5k dollar in your wallet will you give that in higher interest for long-term bitcoin trading? As you can see I am hero rank holder. I think your answer will be no . And as well as you also know that why you are going to reject me same case for banks.