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RE: WHY TOMORROW IS SO EXCITING AND SCARY? AND SO IMPORTANT FOR CRYPTO?
Creating a non profit bank is a great idea, but for making it a reality a vast starting capital is required. So how can the yellow vest protesters collect that amount of money? Unfortunately I think crowfunding would not be enough.
Thank you for being so responsive and for your kind comment @ropaga
That is interesting and unique idea. Just wonder how if it would be even possible?
Yours
Piotr
The idea of non-profit bank is not new. However, most of the non-profit banks were created by the government, so they are part of the establishment.
In Spain for example those entities, called savings bank, existed during over 150 years. They spent at least 50% of profits in their foundations and the remaining profit was used to increase their reserves. However, as political parties and trade unions started to control those banks, corruption started to spread.
Starting by 2010, most savings banks in Spain were sold (or gifted) to private entities. Some of them are still owned by the government but they will be sold as well to private entities when the economic situation gets better.
Savings bank in Spain
The Bank of Spain figures in 64,349 million euros the cost of aid to the bank
Dear @ropaga
Thank you for your amazing comment. I appreciate your time and effort.
Oh seriously? Thank you for telling me. I will learn more about this idea.
thx for those liks.
Yours
Piotr