Banks steal from those who need it most.
The truth is only poor people put money in banks.
Why? Because they are stuck.
Banks give them Zero % or even charge them to keep their money in a money market
Then they take that money and put it in a stock index and make 15%+ a year.
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There’s a flat cost to a bank to maintain an account. If an account only has a hundred dollars or so in it they would lose money on it. So they charge fees. Which are a disproportionately larger percentage of a low income person’s assets. It’s not a big conspiracy, just math.
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There is always a chance to lose in stock market. Poor ppl can’t lose any
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Thats why I use a credit union and dump my excess into the VIX.
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The system is rigged against the poor. Banks will charge you a fee to transfer money from savings to checking if you run low in your checking account. Not over draft fee. This one you have the funds but it is sitting in your savings account in the bank
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Usdc @ 9-10%apy with investvoyager is my play until I get better at investing/trading.