Are Banks and Banking All They Are Cracked Up To Be?

Author: Natalia Kobseva

Banks and the banking industry take a lot of bad rap these days, some of them are even trying to make seconds careers as so-called rap "musicians". Right. In any case, today we shall discuss banks and banking, what purpose they serve (if any) and whether or not a person should get mixed up with these characters. Even though time is money, the question is what to do with your hard-earned money. Is it really wise to just hand it over to the banks so that they can hold it in a checking or saving account, or is it wiser to simply squirrel that dough away under a mattress at home or perhaps in the walls, or even bury one's cash in the back yard?

Government Debt Relief

The banks, bankers, and banking industry have a rich (no pun intended) history which goes back thousands of years. Today, many collectors and museums of antiquity have in their possession ancient currency. Many of these metal coins bear images of rulers, kings and queens, worshipped objects and beasts, even intimate symbols and such. In past times and eras, a person could deposit their money into a bank savings account and the bank in turn would pay a decent annual interest rate to depositor as a way of saying "Thank you for giving us your money". The bank in turn would make/offer loans to others at a higher interest rate than the interest it was paying to the depositor. This left room for a profit, so long as the borrower was able to repay the loan with interest on time.

Fast-forward to today, and the money and banking industry has indeed changed. Would Caesar or Caligula even recognize today's financial services? Probably not. You see, today's banks don't always offer interest for the cash that is deposited into their accounts. Rather, nowadays the banks instead offer "free" checking and savings accounts that pay no interest in exchange for the bank not charging the depositor any "monthly maintenance fees" for holding their money (!) Can you believe it? The banks claim they are doing you a favor by not charging YOU for giving THEM your cash. Of all the nerve. This smacks of hypocrisy and insanity wrapped up in imperialism in a nutshell.

Government Debt Relief Programs

Perhaps grandmother was right. Perhaps keeping and saving one's cash at home is a good alternative to giving the banks your money. Perhaps rather than investing in the stock racket it's wiser to invest in a good safe to protect one's cash and other valuables and unmentionables at home, safe from prying eyes and greedy vultures. The choice is yours.
About the Author:
The American Jobs Act was recently announced. Learn more about it today.
Article Source: Articlebase

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