I hate banks.

I mean, I really, really hate banks.

In fact, nobody I know loves or even likes their bank. At best they are held in mild contempt one level above politicians and lawyers.

You deposit your hard-earned money in a bank in return for a poor interest rate that is often under the rate of inflation. The bank will then charge you a fee for holding onto that money while providing below par customer service and going on to charge you another fee if you want to give that money to someone else or use it. …

In 2018, the 3 biggest banks in the USA, Bank of America, Wells Fargo and JP Morgan made over 81 billion in net income. That net income is after they pay over 75 billion in compensation and bonuses to their staff. By “staff”, we don’t mean the regular clerk workers, the hard-working people on the desk dealing directly with the public, no, of course not, those bonuses go directly to the upper management, the already wealthy.

But where are all those profits coming from? Us, of course. Think about it. Any other industry in the world needs raw materials to function. Depending on the industry they need metals, plastics, fabrics, irons — you name it. When you buy the newest in technology, yes, you’re buying the name on that brand but the money you exchange also makes sense. That company needs to buy the metals, the wiring, the plastics to make up that model, they need to pay their workers to design and build it and they need to pay for transportation of the good and so on. …