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giesahoose

My Savings Are About To Earn Me 20% Less, So I Went Digging

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Got a letter today from nation wide informing me that my direct saver rate will change from 2.5% to 2% from the 1st April.

I was thinking about how banks lend money from the money I save and came across this article from the bank of England.

http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

So much of that doesn't make sense to me logically

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Got a letter today from nation wide informing me that my direct saver rate will change from 2.5% to 2% from the 1st April.

I was thinking about how banks lend money from the money I save and came across this article from the bank of England.

http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

So much of that doesn't make sense to me logically

Yep, that's right. Money is created by private bank leading the money into existence. I've known this for many years now and I did wonder, as you point out that it does not seem logical to most people, if or how long the money system would last if more than a minority awoke to this fact......

Likely everybody would pile everything they could into what they considered to be real assets, like property! Oh, hang on, they already do! :P

Edited by renting til I die

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They do not need you money...

Watch the links, then go get your bank credit, and enjoy what time you have left.

If you have health and youth, you are wesalthy....Bank credit will enable experiences, what lifes all about.

Edited by Panda

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