Why the banks dont give free money? Why they loan it? - page 13.

V for Varoufakis

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Quote from: Laosai on March 31, 2016, 01:46:58 PM

Quote from: V for Varoufakis on March 31, 2016, 01:41:48 PM

Most people dont know that it is illegal to payback a loan to a bank with or without interest. Only a contingent tax is legal. If they knew it, massive lawsuits would happened against the banks.

What? I don't understand what you mean. You mean it's illegal to pay a loan?

Yes, because it is double charging, you pay 1)the tax and 2)the loan and if you pay interest it is triple charging.

Laosai

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Quote from: V for Varoufakis on March 31, 2016, 01:41:48 PM

Most people dont know that it is illegal to payback a loan to a bank with or without interest. Only a contingent tax is legal. If they knew it, massive lawsuits would happened against the banks.

What? I don't understand what you mean. You mean it's illegal to pay a loan?

V for Varoufakis

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Quote from: Amph on March 31, 2016, 01:33:05 PM

the same way you do not work for free, everyone here in this world need to be payed if they run a service

also giving money for free would require continuous printing, because there will no more deterrent to how much it will be asked by anyone

No, thats why the tax system invented.

Laosai

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Quote from: Amph on March 31, 2016, 01:33:05 PM

the same way you do not work for free, everyone here in this world need to be payed if they run a service

also giving money for free would require continuous printing, because there will no more deterrent to how much it will be asked by anyone

Difference here is that there is no choice given.
Banks print every penny in the world. It means they get interests on every penny in the world. Interests that can be paid only by printing more money that they lend again.
That's why the statement "the world is 300billions in debt" is true. And it's in debt to the banks, not to the moon.

V for Varoufakis

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Most people dont know that it is illegal to payback a loan to a bank with or without interest. Only a contingent tax is legal. If they knew it, massive lawsuits would happened against the banks.

greBit

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Quote from: Sithara007 on March 31, 2016, 12:33:32 PM

If the bank starts to give free money our people will become too lazy Grin

..... In my opinion, it depends upon the country income. The rich countries should provide loan for needy people without interest. In contrast, the poor countries should apply normal interest and it will help to balance the country economic level.

The main reason of bank getting huge profit is because of loan. Agree with you bank should provide the loan to needy people for free... As you said depending on financial condition of the country. Loan if they provide it is more income to the bank because any way they will get the 100% amount + 50 % more towards what they provided loan...obviously no one goes for the loss if they can make more profit.

Amph

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the same way you do not work for free, everyone here in this world need to be payed if they run a service

also giving money for free would require continuous printing, because there will no more deterrent to how much it will be asked by anyone

GamingBro

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Nobody will give you free money without benefit . Banks its a big financial pyramid and they trying to make money from it.

Laosai

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Quote from: V for Varoufakis on March 31, 2016, 11:46:20 AM

I think loan is a scam. An economy needs, only, free funding and a tax system and nothing else. Do you agree?

You have a good point here.

What happens if banks give only loans. They're the only source of money in the society. Every coin you ever had went through banks. It means they have interests on absolutely everything in the world. But how do you pay those interests if bank already owns all the money?
Answer is simple: by taking a bigger loan.

Kprawn

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Banks need to charge interest on loans to pay for all the salaries of the fat cats and shareholders behind the curtain. They also have to pay for the huge sponsorship for Sport and expensive

advertisements in mainstream media. They also have to maintain old outdated private ledgers in super secure facilities and build secure faults to charge us even more. The Islam banks piggy back off

other people to give these interest free loans {Well this is true for my country, where they share banking services with other people from other religions} Now you know, where your interest is going...

and why we need to feed the fat cats, if you using the fiat system linked to banks.

Kartikay

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I do not think it as a scam. Why would someone give you money without their own profit.
Banks have their own infrastructure, they have to pay bills, pay their employees, for all these needs it is necessary to interest money.

Sithara007

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If the bank starts to give free money our people will become too lazy Grin

..... In my opinion, it depends upon the country income. The rich countries should provide loan for needy people without interest. In contrast, the poor countries should apply normal interest and it will help to balance the country economic level.

bitbunnny

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I wouldn't call it a scam, but robbery yes. It's the way that banks make their living but often this loans are to expensive and unfair forw their clients. Islam banks, though, give loans without interest.

V for Varoufakis

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I think loan is a scam. An economy needs, only, free funding and a tax system and nothing else. Do you agree?

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