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RE: Banks Are Crooks, Inventing Money as Loans to Profit on Interest Payments
Let's run through a scenario. In nov when bitcoin was booming you wanted to buy bitcoin. You had no money so you asked your friend for some money. He doesnt believe in unrealistic gains so he wont buy bitcoin himself but he will loan you 15k at 10% interest. You buy 1 coin but market crashes and 1btc is now worth 5k. Now tell me who should bear the burden of that loss. You or your friend. If your 15k turned into 150k, would you pay him more than 10%. Now replace your friend with bank.
If you borrow and someone gives you their money, then you pay them back as that's the reciprocal deal made ;) Corporations get bail outs and don't play the game fair like regular people. Similar to bidbots and not playing the game fair on Steem ;)
There will be people who dont pay so thats where the concept of interest and bail outs come in. There are also running costs. For bidbots, its a different story because they are charging for assigning money from reward pools. I wrote a post on bid bots last night that you might find interesting :https://steemit.com/crypto/@mightypanda/bid-bots-for-noobs