Post BA10ruYY27ECjkWv3Y by MCMLXVIIOTG@nicecrew.digital
 (DIR) More posts by MCMLXVIIOTG@nicecrew.digital
 (DIR) Post #BA0xhc4zZgNwfr6TMu by MuhRamblings@www.minds.com
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       https://www.minds.com/newsfeed/1942034838521384960
       
 (DIR) Post #BA0xhcMMX6HPXjELRY by Humpleupagus@eveningzoo.club
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       A deposit is just an agreement to repay. It's not your money when it's in the bank. The bank becomes your creditor. They want the deposits, so they can use the money.
       
 (DIR) Post #BA0zV2P2ar2ESTc1gm by MCMLXVIIOTG@nicecrew.digital
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       Thought my bank sent me some gambling spam. "You could get an iPad". Ah, they'd appreciate it if I leave $75K with them for two years. And even after meeting that requirement it still carries a "could" qualifier? Bitch, please. Tablets aren't unobtanium.
       
 (DIR) Post #BA0zeXlPMdtsKPbhpI by Humpleupagus@eveningzoo.club
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       Most people think they're richer if they have money in the bank, but technically they're poorer. I remember when this dawned on me when I was taking banking law / negotiable instruments / secured transactions.
       
 (DIR) Post #BA0zkvx8LIZl5S8f56 by Goalkeeper@nicecrew.digital
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       That's why Billionaires have most of their money tied up in assets
       
 (DIR) Post #BA0zqtygb9fIhPi7s0 by Humpleupagus@eveningzoo.club
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       Exactly. And liquidation is a logarithmic problem, so they have to hold and liquidate only as needed to live.
       
 (DIR) Post #BA104LsUB6FmzhDwzg by Goalkeeper@nicecrew.digital
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       and the asset is likely to accrue value over time, the money will just stagnate at best.
       
 (DIR) Post #BA10ruYY27ECjkWv3Y by MCMLXVIIOTG@nicecrew.digital
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       >and the asset is likely to accrue value over time, the money will just stagnate at best.>at bestPurchasing power at the grocery store is about half of what it was not that long ago. BuT bUt BuT tHe DOW iS oVeR 50,000!! :soyjak_excited:
       
 (DIR) Post #BA10rujtLwInIvpyjo by Goalkeeper@nicecrew.digital
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       They overprint our monopoly money on purpose because they don't give a fuck about it. That's not where their wealth is.