Friday, February 17, 2017

Banks are Borrowers, Not Lenders

"But beware. Anger, fear, aggression. The dark side are they."
--Yoda (Return of the Jedi)

People do not seem to grasp this message.

Depositors are creditors to banks. Banks borrow from depositors.

How banks get away with being the 'lender' and entitled to take delivery on houses and other property when loans built on the capital of others fail is one of the greatest Jedi Mind Tricks in history.

Not to mention the bailouts that make banks whole at the expense of their creditors. Nice work if you can get it.

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