/biz/ - Business & Finance

[Anonymous No.50994376]

How effective is loansharking for making money?

[Anonymous No.50995280]

The modern banking system is loan-sharking and it generates about $1 trillion per year in revenue for private banks.

If you lend someone $10,000, you must first have the money is your possession to lend it. But banks create new digital money out of thin air AFTER the borrower signs the loan contract. The $10,000 borrowed from a bank did not exist before the borrower arrived.

If you charge 5% on the $10,000 loan, you would make $500 of interest. The bank would also make $500 in interest, but they never had the original principal amount to begin with. Since the bank gets to create new digital money to lend, their actual rate of return is probably closer to 50% or 500%!

Proofs that banks create the entire money supply available at:
bankLIESdotORG

[Anonymous No.50995312]

The modern banking system is a legalized counterfeiting loan-shark scam.

Even the Library of Congress admits this! Banks create new digital money out of thin air AFTER the borrower signs the loan contract.

proofs at:
bankLIESdotORG

[Anonymous No.50995365]

Here's a 1979 admission by the bank-owned NY Federal Reserve.

They admit that banks create new money out of thin air AFTER the borrower signs the loan contract. Because banks create the money they lend, their actual rate of return is many times higher than the advertised interest rate.

And if you can't repay the money that the bank created out of thin air, they ruin your life with legal actions like wage garnishment, foreclosure, eviction, repossession, and judgements that take years to go away.

Proofs available at:
bankLIESdotORG

[Anonymous No.50995398]

Oops! HERE is the 1979 admission by the NY Fed.

[Anonymous No.50995420]

>>50994376
is it true that loansharks will harass you even if you pay them back because they want you to borrow more and make them more money?