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Originally Posted by Rob Instigator
most banks make 90% of their loans to corporations, not to individuals.
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I was sticking with the individual loans because that was more relevent to my anti-interest theory. I have no real worries about the percentages, just the ethics.
Quote:
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Originally Posted by Rob Instigator
Banks are allowed to loan out 10 times the amount of money that they actually have in their accounts (don;t ask me why, some republicrat made that shit up).
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Is that not because when a deposit is made, the bank is required to put aside 10% or so as reserve, and is then allowed to loan out the other 90% or so?
THat could be totally wrong - I've only really looked at the ethics, rather than the mechanics.