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The Absurd Business of Banking

😈 Watch exclusive 40+ minute documentaries that are too controversial to ever be released to the public: https://jake.yt/join 📹 Take a peak at all the private documentaries here: https://jake.yt/hidden-vids 🎥 Business is complicated. Subscribe to curiosity: http://bit.ly/jt-sub ✉ Be the first to watch new videos with email notifications: http://bit.ly/jt-inbox 📸 Follow me on IG:@jaketran // http://bit.ly/jt-ig 👨👦👦 Join the Tran Mafia Family here: https://bit.ly/patreon-jt 💬 Join the community Discord:   / discord   Stuff I use & recommend: 💻 𝗟𝗮𝗽𝘁𝗼𝗽 𝗟𝗶𝗳𝗲𝘀𝘁𝘆𝗹𝗲 𝗔𝗰𝗮𝗱𝗲𝗺𝘆: Learn exactly how I landed my $40/hr work from home job ($83k/yr) at 19 years old: https://www.evil.university/remote 🏠 The real estate investing course I love & recommend: https://jake.yt/RE 🌐 Most flexible, affordable website hosting: https://jake.yt/bhd 🖥️ Website platform I use & love: https://jake.yt/kd 💽 Editing software I've used for 7+ years: https://jake.yt/ccd 📒 Online bookkeeping software I use& love: https://jake.yt/benchd 🧾 Best affordable bookkeeping software: https://jake.yt/fbd 📜 The exact resume I used to get my $40/hr remote web dev job + a lot of bonuses: https://jake.yt/DRBd 📚 Get 3 free audiobooks for life: https://amzn.to/2v58PSu 🎥 My video gear, setup, tech, books: https://jake.yt/stored ✉️ Email me: [email protected] Subscribe to the backup channel on LBRY, use reward code "jake-cast" for free coin: https://bit.ly/LBRY-jt ----------------------- Banks are not only able to print money, but they’re actually encouraged by the government to do so Banking is one of the least understood businesses throughout history, and yet, they are the very places that people dump their life savings into So how does the business of banking work? What’s the purpose of a bank? It’s to have a safe convenient place to store our money But bankers don’t open up a bank out of the kindness of their hearts to make our lives easier. The purpose of a bank is to the make the owners money. But unlike every other business model out there, banks are the only ones that are legally able to print money out of thin air. Today, it’s a little different because the world doesn’t base it’s money on gold anymore Fiat money - money that’s really nothing more than paper that the government says is money. And it’s in this fiat money system that bankers have become the modern day alchemists with the ability to literally create money out of nothing. You deposit $10,000 into your bank account Banks are required by law to only keep around 10% of that $10,000 you deposited as “reserves” Why would they just let your money sit there when it could be out collecting interest for them and making them money? So they lent out 90% of your money, or $9,000 as a loan to Frank at a 5% interest rate All of a sudden, Frank has $9,000 to spend, you still have your $10,000 and what started out as only $10,000 in the money supply has magically increased to $19,000 Before Frank spends it, the $9,000 loan he got goes directly into his bank account Sources: The Creature from Jekyll Island: A Second Look at the Federal Reserve: https://amzn.to/36FuMFP https://www.federalreserve.gov/moneta... https://www.marketwatch.com/investing... https://www.nytimes.com/2008/05/11/bu... https://money.cnn.com/news/specials/s... https://www.washingtonpost.com/archiv... https://www.nytimes.com/2008/10/03/bu... ----------------------- All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, [email protected], and we can sort it out. Copyright © 2019 Jake Tran. All rights reserved. Music by Chillhop: http://chillhop.com/listen BaaskaT - Bittersweet https://chillhop.com/artists/baaskat/ Ian Ewing x Chromonicci x Philanthrope - Zen https://chillhop.com/artists/ian-ewing/ https://chillhop.com/artists/chromoni... idealism - last time   / idealismus   L'indécis - Second Wind   / lindecis   Listen on Spotify: http://bit.ly/ChillhopSpotify DISCLAIMER: These videos are for entertainment purposes only. This is not meant to be financial advice. Please always do your due diligence and never stop learning. Best of luck! AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinions and comparisons whatsoever.