Banks are being told to call the cops if someone attempts to withdrawl $5000!

[Zero]

@this thread lowkey exposing broke dudes who never had any significant amount of money in their lives

 

[SemiEnlightenedBum]

joke's on them,thy closed my bank account years ago cause thy knew this was coming..

















psyche,joke's been on me since birth

thy don't possess enough dough for them to consider me a threat thy still wanted to pull out even if tis a empty gesture/exercise in futility..i already conceded their "victory" but when you can't win,troll..

"..trapped in a game where THE TRAP IS THE GAME.."

can't believe there's still ham&egger humanoids making excuses for these fascists,but thy guess if you know you're beat,pawned,owned,etc you just give up..

 

[TRFG]

@this thread lowkey exposing broke dudes who never had any significant amount of money in their lives

It is embarrassing

 

[d'jarbargel]

Breh,
Have you ever invested? You know you have to wire that money into the broker's bank account, right. They don't accept cash or checks

you don't "wire the money into the broker's bank account"

you wire the money into you brokerage account

if you're actually putting the money into your broker's bank account, you'd better call somebody, because you're getting scammed

 

[TRFG]

and your point is, what?

You're an misinformed idiot trying to give financial advise

 

[d'jarbargel]

So they keep their liquid assets where?

most people don't keep liquid assets

The interest you get putting large amounts of money into a bank account beats stocks plus there's no risk

hahah okay

wells fargo high yield savings accounts with > $100,000 are paying 0.05% per year

or you could buy an S&P 500 index fund, which have averaged at 15.79% per year since 1970.

 

[Marvel]

^^ theres the real reason for this, just another way to keep a permanent underclass. they are going to be seizing funds from all kinds of "suspicious"[aka black] people.

now you cant even make your own money after all your hard work; considering most jobs require you to do direct deposit anyway.

so you work like crazy, your compensation goes into a bank without you seeing it, and at the end of the day it can be seized at any time.

how is this not slavery?

They will have even more control when they institute the chip...you will have no withdrawals just buying and selling transactions. All controlled and monitored by one big database.

 

[TRFG]

most people don't keep liquid assets




hahah okay

wells fargo high yield savings accounts with > $100,000 are paying 0.05% per year

or you could buy an S&P 500 index fund, which have averaged at 15.79% per year since 1970.

What about the taxes on that
idiot

 

[d'jarbargel]

What about the taxes on that
idiot

Listen, I could return the insults, but it would make me feel bad. At this point I just feel sorry for you.

interest from savings accounts are taxed as ordinary income, 10% - 39.6% depending on your annual income

capital gains are taxed preferentially, 0% - 20% depending on your annual income. (if you make less than $36,900/year, tax on stock gains is ZERO)

at EVERY income level, you will pay more taxes on your savings account interest than you will your realized stock gains. but it's a moot point because you WON'T HAVE ANY fukkING INTEREST at 0.05%. You won't even beat inflation, so in real terms you lose money every year as everything gets more expensive.

 

[d'jarbargel]

I missed this one

So how does a broker get the money to purchase stocks and bonds outside of the banking system?

your broker accesses the money you put in your brokerage account

at no step in the process does a bank need to be involved in buying, selling, or owning stocks.

And how do you access home equity without a bank's involvement?

is this serious?

you realize your home equity by selling your house. You don't need a bank, or a bank account, to sell your house. (Most people need a bank to BUY a house but that is a different issue)

 

[TRFG]

Listen, I could return the insults, but it would make me feel bad. At this point I just feel sorry for you.

interest from savings accounts are taxed as ordinary income, 10% - 39.6% depending on your annual income

capital gains are taxed preferentially, 0% - 20% depending on your annual income. (if you make less than $36,900/year, tax on stock gains is ZERO)

at EVERY income level, you will pay more taxes on your savings account interest than you will your realized stock gains. but it's a moot point because you WON'T HAVE ANY fukkING GAINS at 0.05%. You won't even beat inflation, so in real terms you lose money every year as everything gets more expensive.

Not where I live, so it's obviously different.

 

[d'jarbargel]

Not where I live, so it's obviously different.

ah. i see. i live in America, and that's how it works here. Interest rates are too low for savings accounts to be viable, and at the same time makes investing in stocks an obvious choice.

i'd be interested to know what country you live in. must be somewhere in south america with 15%+ interest rates like Argentina or Venezuela.

 

[Uncle Kingpin]

I missed this one



your broker accesses the money you put in your brokerage account

at no step in the process does a bank need to be involved in buying, selling, or owning stocks.



is this serious?

you realize your home equity by selling your house. You don't need a bank, or a bank account, to sell your house.

How do you transfer money to your brokerage account without a bank account?
Which check cashing would cash a check from a home sale?

What if I just want a loan based on the equity in my house? Know any good loan sharks who give cash loans for reasonable interest rates?

 

[TRFG]

ah. i see. i live in America, and that's how it works here. Interest rates are too low for savings accounts to be viable, and at the same time makes investing in stocks an obvious choice.

i'd be interested to know what country you live in. must be somewhere in south america with 15%+ interest rates like Argentina or Venezuela.

English speaking Caribbean

 

[d'jarbargel]

How do you transfer money to your brokerage account without a bank account?

Paycheck straight into brokerage account.

Now, why would you transfer money to your brokerage account without a bank account?

Which check cashing would cash a check from a home sale?

probably none of them

it is legal to conduct real estate transactions in cash, which is "how you access home equity without a bank's involvement." i wouldn't recommend it though.

What if I just want a loan based on the equity in my house?

if you want a loan then you go to the bank.
























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