Occupy Underground

sabrina 1

(62,325 posts)

43. Thanks, I get it now, you explained it very clearly.

Reply to Benton D Struckcheon (Reply #15)

Sun Mar 24, 2013, 09:05 PM

Mar 2013

But didn't banks pay a lot more in interest on savings not so long ago? Wasn't it possible to get about 3% or more on savings, or so I have been told

And if that is the case, was that because US Treasury Bonds were getting more interest at that time?

the rate banks are going to either give you on a deposit or charge you on a loan is tied to what they can get risk free via buying and selling Treasuries.

One commenter to the article linked in the OP said s/he thinks the banks are trying to get rid of their small depositors because the cost of managing those accounts is too high. Do you think that is the case? You do say that they use deposit money as loans for mortgages and credit card holders so it does seem as if they do need all the deposits they can get.

I will check out your OP in GD and thanks for taking the time to explain all this to me, I appreciate it.

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Highlight:

Not just Cyprus! Who Else Has Plans To Grab Small Depositor Savings To Bail Out Failing Big Banks? [View all] sabrina 1 Mar 2013 OP

DU Rec Tuesday Afternoon Mar 2013 #1

The interest paid on savings and CDs is insulting AndyA Mar 2013 #2

This has to do with the repeal of nationwide usury laws, Benton D Struckcheon Mar 2013 #3

Thanks for that information. sabrina 1 Mar 2013 #7

Ten year Treasuries are @1.91% Benton D Struckcheon Mar 2013 #10

Well, one reason is profits for the Banks I suppose. I just reread your sabrina 1 Mar 2013 #11

I don't want to totally hijack this so I'll start a new thread on usury itself, Benton D Struckcheon Mar 2013 #15

Thread started Benton D Struckcheon Mar 2013 #21

Thanks, I get it now, you explained it very clearly. sabrina 1 Mar 2013 #43

Probably when they were allowed to invest in the stock market... rwsanders Mar 2013 #26

I think you nailed it. Just like they are trying to get their hands on the SS sabrina 1 Mar 2013 #36

My nephew asked me to co-sign a small student loan. Thor_MN Mar 2013 #12

that is good of you ... however it didn't help his credit rating. nt littlewolf Mar 2013 #20

You think a 10% interest rate is good for him? Thor_MN Mar 2013 #24

true I might have let him get the loan and then littlewolf Mar 2013 #31

He has other loans. Thor_MN Mar 2013 #32

It's a student loan. NEVER take a student loan. Sirveri Mar 2013 #47

You did your nephew a huge favor! abelenkpe Mar 2013 #28

I think that was a great decision. sabrina 1 Mar 2013 #35

Actually, the extremely low interest rates are just an alternative JDPriestly Mar 2013 #23

Yes, and while dividend-paying stocks are yielding a bit more. BadgerKid Mar 2013 #25

K&R AnotherMcIntosh Mar 2013 #4

Moving our money can help but probably not stop them from getting it in the end. rhett o rick Mar 2013 #5

The only way to keep them from getting our money seems to be to sabrina 1 Mar 2013 #13

There is a risk of course of theft. But also, would paper money be best? rhett o rick Mar 2013 #27

I don't know whether paper money is best. I know a few people who sabrina 1 Mar 2013 #44

Historically gold has always been accepted as a unit of value. rhett o rick Mar 2013 #46

Are they going to let the banks fail or bail them out again? starroute Mar 2013 #6

There are a few articles linked in the original article. Good question sabrina 1 Mar 2013 #9

OWS is "the only threat to their criminal activities," bvar22 Mar 2013 #8

I will never forget that. Henry walked into Congress like King, handed sabrina 1 Mar 2013 #14

That scene, with Paulson, in front of the TV cameras, bvar22 Mar 2013 #22

"Martial law" KansDem Mar 2013 #52

Remember, Congress voted against the bailout initially after they received so much pressure sabrina 1 Mar 2013 #53

Yes! KansDem Mar 2013 #55

While I share your disdain for big banks customerserviceguy Mar 2013 #16

They're also doing their best to criminalize any opposition to corporations starroute Mar 2013 #30

Attempts to criminalize the videotaping of violent police tactics... KansDem Mar 2013 #54

True, but we know that Wall St owns politicians. So it seems to me they sabrina 1 Mar 2013 #45

I admit to knowing very little about finance but Sadiedog Mar 2013 #17

It is outright theft. What else can it be called? I don't know much about finance sabrina 1 Mar 2013 #38

HUGE K & R !!! - Thank You !!! WillyT Mar 2013 #18

Plunderball: catchy name! Demeter Mar 2013 #19

Why don't governments all over the globe abelenkpe Mar 2013 #29

No, you're not the only one asking all those questions. sabrina 1 Mar 2013 #48

Excellent post...but scary as hell. AikidoSoul Mar 2013 #33

I think, if it had done nothing else, OWS demonstrated how far sabrina 1 Mar 2013 #39

I found out that money is seldom safe when it comes to banks. Social Security money is not supposed jwirr Mar 2013 #34

Are we at a point then, where the only way to keep your money safe is sabrina 1 Mar 2013 #37

I put mine in GoDirect which is still in a bank but it is a FED bank that holds our social security jwirr Mar 2013 #49

Well for me its like what money? Sadiedog Mar 2013 #40

Lol, same here, but I'm thinking of people who want to save and have sabrina 1 Mar 2013 #41

I know it is just disgusting . Sadiedog Mar 2013 #42

OWS needs to get more power. loudsue Mar 2013 #50

Banks would put a stop to it pretty quick once they noticed a pattern of withdrawal woodsprite Mar 2013 #51