this post was submitted on 18 Jul 2023
71 points (98.6% liked)
Asklemmy
43892 readers
941 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy π
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Having money means you automatically get to have more money - ie interest, rent, investments.
Why is that crazy? If I loan the bank money and they make money on my loan I should get paid for it.
How does the bank make money from your money?
If I leave a pile of money in my closet, it doesn't grow like mold.
Banks use your money to invest. They only have to have a small percentage of their holdings in cash on hand so they can invest, make money, and pay you interest.
Your money isnβt just sitting in a vault at your local Bank of America branch.