Quote:
Originally Posted by Mark_K
It is an annual interest rate. But the loans are ultra short term.
Do I know what I'm talking about? Probably less than I realize.
ah i see. interesting the commie propaganda show left that out.
my idiot friend who does actually know something about finance told me that banks are allowed to leverage their money like crazy. i forget what he said exactly, but something like 100-1. so if you deposit 1 dollar in your account, they can lend out 100 dollars on it. so basically they are allowed to print money.
do you know if that's true?