Full Reserve Banking

[Pedotard]

Where do you keep your money? Is it one of those evil banks that practices fractional reserve banking and doesn't charge you money just to have a bank account?

[Felch]

Silly, Pedo. Philosophers don't have money.

[Fake Boris]

9/10

[ZEE]

Fake Boris is Fake.

[rah]

Every time a bank has figured out a way to charge me for holding my money, I have changed banks.

[Fake Boris]

Every time a bank has figured out a way to charge me for holding my money, I have changed banks.

Then you've been cheated out of your money.

What they'd charge for checking services is much less than what they make through fractional reserve.

[rah]

HUH. How can they have cheated me out of my money if I've never paid any fees? Their interest rates have been comparable to banks that charge.
Any large amounts of funds that I have are invested in more profitable opportunities.

[pchang]

You were clearly cheated because THEY have more money than YOU and didn't give you any of THEIRS.

[dannubis]

AKA present-day leftism

[Bereta_Eder]

A bas les aristos!
(actually not very aristocratic at all, rightwingers usually have horrible taste)

[Fake Boris]

You were clearly cheated because THEY have more money than YOU and didn't give you any of THEIRS.

[rah]

I guess that was easier than answering my question.

[Fake Boris]

I guess that was easier than answering my question.

The issue is not that they have more money than you.

It's that they're creating money from your money. Free checking is a ridiculous benefit compared to that.

Fractional reserve banking is only possibly good for you if you belong to the 1%; and even then, I'm not sure.

[Elok]

Well, that, and it helps the banks to stay in business, whereas your plan would deny them a revenue source while simultaneously destroying the real value of their assets by dumping trillions of new dollars into the economy. Over and over and over again, as operations are continuously funded by printing more and more cash. I don't know much economics, but I do know that you can't infinitely increase the supply of anything and have each unit be considered as valuable as before. It doesn't work, and it won't work no matter what you do. This has been tried many times before. It has always resulted in massive inflation. Crippling the banks at the same time is not going to magically fix that.

[rah]

It's that they're creating money from your money. Free checking is a ridiculous benefit compared to that.

It all depends on how much money they're holding for you. If you had actually read my post you would have seen that I said that

Any large amounts of funds that I have are invested in more profitable opportunities.

I get free checking by simply having direct deposit. A service that I would actually pay for. Instead I leverage it into free checking and other free services from the bank like online bill paying, online transfers, reward points. Not much money is ever just sitting there for them to be taking advantage of. They're only holding the funds that I need to have super quick liquidity to.
The Lion share of my money is in other investments.

Try again using reality explaining on how I'm being cheated. Good luck.