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48
posted 12 days ago by MLJFireDragon747 on scored.co (+0 / -0 / +48Score on mirror )
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15
Vlad_The_Impaler on scored.co
12 days ago 15 points (+0 / -0 / +15Score on mirror )
The bank losing $40k is much different from you losing $40k

The bank just made the money up. You may have deposited $4,000 which, thanks to fractional reserve lending, allows the bank to make loans 10x that amount. So the bank utilized your $4,000 savings account as justification to lend $40,000 to some illegal spic. And if the spic doesn't pay it back then the bank didn't lose anything because they never had the $40K to begin with, and your $4k is still there. The $40K loan was just numbers in a computer, and fiat fake money printed. And many of these bogus loans are FDIC insured, which you also pay for.
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