Banks could lend money without interest
Did you know that banks could lend money without interest and still gaining so much money?, i reality in the Libia of Moamar Gadafi the banks were forced to lend money without interest for a 10 years mortgage, and... in some countries to the bank employee, the banks lend them without interest only return original capital, why?
By fractional reserve , before you deposit money in bank and bank could lend 10 times your quantity because they need only one fraction of the money that they could lend. But now is different, the money is done by debt, the banks are not interested in your money, in contrast yes in your profile, your personal data, how much money could you return to bank every month, how many children have , etc
The bank only need to put the money that you need in his computer and !!!!!uala!!!! the money is created from nothing.
Good bussiness isn it?
Moslem law, as applicable in Libya, prohibits the charging of interest on money loaned, in much the same way as Christian law once did. Instead lenders charge an administrative fee, a percentage of gains, or a commission on the sale of an item when credit is being provided. The counterpart of this is that savers do not receive interest on savings, but a percentage of gains made by the banks, but also bear any losses.
What is truly interesting, is the recent development of negative interest rates. That is, receiving interest to borrow money. Effectively Central Banks pay banks to borrow money from them. The idea being to encourage banks to lend money to businesses for investment, and thus encourage economic development. Ultimately, however, it is confidence in the future that drives an economy. And confidence is largely missing at the moment.
ColdMonkey mines Gridcoin through generating BOINC computations for science...
thanks for your point of view.
https://steemit.com/nwo/@miguel12/what-will-happen-if-you-give-more-power-to-nwo