posted on Dec, 20 2011 @ 02:24 PM
The way it works - you pay a bill; the money is removed from your account immediately; you are NOT paid interest on the amount - but your bill is NOT
paid for 2-3 days. The bank keeps the cash and plays with it; it remains a bank "asset" for that 2-3 day limbo. On a personal note, if you don't
factor in those 2-3 days into your bill payment deadline, you not only lose the interest on your bank account but you ALSO pay late fees and interest
charges on the bill you thought you paid. This blows many peoples' budgets out of the water - and can threaten the stability of their home. Still,
taken one individual at a time, we're not talking that much money. But start multiplying, and the scam comes clear.
If only 1,000,000 customers each debit $2,000 for bill payments in a month, and all that money goes into "bank limbo" - the bank has $2,000,000,000 to
play with, for free, for 2-3 days.
Just 1/2 hour with $2 Billion in a money market can easily double or triple a financier's holdings. That money is suddenly worth $4-$6 Billion. Free
So how much profit does $2 Billion generate over 2-3 days? At the low end, maybe $384 Billion? At the high end, about $576 Billion?
How about if a bank has 2 million customers debiting $3000 each on average for bill payments? What's that worth in the money markets? …$24-$36
Billion per hour? Maybe $576 Billion per day? $864 Billion per day?
About $10.368 Trillion per year? More? While customers' tax dollars go to multi-trillion dollar bailouts AND they get stuck with late fees and
interest charges on their bills from companies often owned by the banks that are screwing them.
Welcome to the real
Study shows powerful corporations really do control the world's finances
Why Do People Defend Unjust, Inept, and Corrupt Systems?
edit on 20/12/11 by soficrow because: (no reason given)