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What's the craziest thing we just take as granted?
(sh.itjust.works)
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this post was submitted on 18 Jul 2023
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Asklemmy
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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 isn’t just sitting in a vault at your local Bank of America branch.