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An X (Twitter) post from @Thekeksociety - DR. Kek
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Token ID reSee.it #42073
𝕏 Link https://x.com/_/status/1739547090429288739
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Post ID 1739547090429288739
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Author @Thekeksociety
Author Name DR. Kek
Author Profile https://x.com/Thekeksociety
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First Archiver @Zer0LM
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reSee.it

Token #42073

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@Thekeksociety - DR. Kek

DO YOU AUTHORIZE THE BANKS TO LEND OUT YOUR MONEY? https://t.co/MgfK5BQrrr

Video Transcript AI Summary
When you deposit $10,000 in a bank, they keep 10% and loan out the rest. If someone asks for a $9,000 car loan, the bank loans that amount from your deposit. The borrower pays the car seller, who then deposits the money in another bank. This becomes a new deposit and the process continues. The money is redeposited and reloaned until your initial $10,000 becomes $100,000. This is how the banking system creates $90,000 by loaning out your money. This practice started with goldsmiths in the 17th century, who stored gold in vaults and issued receipts as paper money. They would create more receipts than the actual gold they had and charge interest on the money they didn't possess.
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Token ID reSee.it #42073
𝕏 Link https://x.com/_/status/1739547090429288739
Token URI ipfs://bafybeidyy2wlqcmccbt6tjzj4zrpzmwrnhimvpayrrc75wotpkq6utyjvm
Saved Media ipfs://bafybeiegehlszoa65xiol46ecmsxyp4xfijavq3cd4jp2buqakn3qk3l34
Post ID 1739547090429288739
𝕏 Post Created
Author @Thekeksociety
Author Name DR. Kek
Author Profile https://x.com/Thekeksociety
Chain Polygon
𝕏 Post Saved
First Archiver @Zer0LM
Contract Address 0xe16ebd042074b7c971d62e544146d141c725f618