Krungsri madness - a new certificate of residence, for an existing customer ?

[BenStark]

1 hour ago, Conno said:

It's called fractional reserve banking my friend. He's 100% correct. Biggest scam on the planet and not 1 in 10,000 are aware of it. 

 

I am very well aware of what is fractional reserve banking, it means that if you deposit $1000, the bank may loan out 90% of it, not 9 times as the poster claimed.

 

On 12/2/2023 at 1:37 PM, john donson said:

you deposit 100.000 pounds / euros /dollar

 

they only have to keep 10% in reserve

 

they can just add a 0 and lend out 9-10x  your 100.000 whatever at 4-8%

 

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

Fractional Reserve Banking Process

The fractional reserve banking process creates money that is inserted into the economy. When you deposit that $2,000, your bank might lend 90% of it to other customers,

[Conno]

Ben Stark - You are still not getting it. It is 9x as the original poster stated. 10x not entirely accurate but under some circumstances it can be [as explained below] but if that's what you want to focus on then fair enough. However after saying that they can do as they like. As Mike Maloney states some use a reserve of ZERO not even 10% so now that looks like it's getting close to infinite currency creation to my mind.

 

$100 deposit can and does create $1000 new credit because the cycle repeats and repeats. That $90 is the initial amount but then the cycle loops over and over again. 

 

Here it is in video format for you. Skip to the 06:45 timestamp. 

 

PS. Your investopedia link calls currency 'MONEY' it isn't. Currencies are credit, not money.  Only Gold and Silver are money.....and possibly Bitcoin these days too some may argue. The digital Gold.

 

 

[john donson]

On 12/16/2023 at 10:35 AM, brianthainess said:

Do you already have a one year extension in your passport? You need that to open a Mee Tai Account first.

 

I have 4 passports with extension...

1 current and 3 previous old expired one's

[john donson]

On 12/16/2023 at 9:18 AM, BenStark said:

 

I really wonder how they can lend out 10 times the money they get in.

 

I'm sure you can enlighten us all on that

Fractional reserve banking is a system where banks are only required to keep a fraction of bank deposits on hand. That means your bank holds a percentage of your money, lending the rest of it out or investing the money to grow their total available funds.

[sidneybear]

On 12/16/2023 at 1:18 PM, BenStark said:

 

I really wonder how they can lend out 10 times the money they get in.

 

I'm sure you can enlighten us all on that

Fractional reserve banking. They create money out of thin air. 

 

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

 

A legalised Ponzi scheme 🙂

 

[freeworld]

48 minutes ago, sidneybear said:

Fractional reserve banking. They create money out of thin air. 

 

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

 

A legalised Ponzi scheme 🙂

 

And they charge you interest and taxes for that.

[john donson]

nice video above , and most people are ignorant about it, well also about most of everything

 

about where your tax you paid goes, side effects of medications that md's hand out and charge your insurance as much as they can... fake food or full of chemicals...

[BenStark]

On 12/16/2023 at 9:03 AM, billaaa777 said:

Every branch is different. Some cooperate and some make your life miserable. If one of them gives you a problem, just find another one. It is all up to the manager as too how that branch operates.

 

Exactly.

 

For example I have had an account with Krungsri for about 2 decades. First I was in the Pattaya Thai branch, but since that location was inconvenient for me I switched to the Sukhumvit branch.

In both branches there were no issues.

About 5 years ago the Sukhumvit branch switched to do only insurance, and I had to move to the one in Big C extra.

 

Since then every time I go in for anything there will be a fight because they make problems about everything. Next week I do my retirement extension, to which my Krungsri account is linked, and the moment I have the extension the account will be closed