How Banks Keep You Poor (The Truth)

In this video, I show you how banks are keeping you poor. What happens when you deposit money into your bank account? Where does that money go and how can it affect you in a negative manner?
It is essential to understand that banks earn profits by issuing loans. The money which is loaned to consumers can come from a variety of sources, primarily from savings and checking deposits.
One of the concepts introduced in this video is known as fractional reserve banking. It allows banks to only keep a fraction of your deposits on hand while lending the remaining percentage to consumers.

Why don’t schools teach important financial lessons?

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I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.

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[NateOBrien]

Hi everyone. Please excuse my horrendous artistic skills (see Kevin & neighbors)... If you found value in this video, please consider dropping a like and sharing it on social media. It would make my day. Thank you for supporting the channel!
- Nate

[ChrisInvests]

It's amazing the amount of financial education people can get on here for free 😀👍

[dustywilson]

You and Graham Stephan are the rockstars of the finance channels on YouTube. Thanks for all of your efforts and dedication.

[WhiteBoardFinance]

There's a reason it isn't taught.

[solk.posner]

"It's not like the harry potter scene going down to the caves and finding a little pile of gold or what ever the hell that was".

😂🤣😂🤣

[dangeles]

Fractional reserve banking is WAY worse than you described it. A major bank can take your $1000 and can legally lend out $10, 000 plus interest to another person. It’s scary that it’s legal.

[RealLifeMoney]

Borrower is slave to the lender. If you’re always the one asking for money then you’ll never be the one who has it 🙌

[chrisglaze]

I love how banks take the money in your accounts and invest it to make money while they pay zero or little to no interest. Changed my view on the financial world when I found this out.

[JoelSam]

The schooling system is indeed a problem, here in Ghana too. More financial education is needed to empower students for the future. Great video as always Nate! 🚀💯💫

[KevinConwayChannel]

I am a lawyer. Spent many, many years in school. This is the TRUTH.

[NickPeitsch]

Banks can make you rich or poor - depending on how you use them to your advantage ;)

[thecapone]

Hmm. At first I was kinda iffy about this channel since Nate seemed a bit lacking in confidence. But now I am
Liking this channel for the same reason I like Graham’s channel. They’re both so real and honest and not pretentious. Graham is frugal and happy and records from his house that he house hacks. And Nate here talks to us like he’s actually talking to us face to face as we’re hanging out or something.
Idk, just seems like a very authentic and down to earth personality.

Love it, man!

[ZacharyLaid]

Banks are like vampires sucking the value out of your hard earned money, keeping all of your money in the bank is not the way to go, rather it should be invested.

[saddreams]

I thought these things were automatically taught in American schools since they are so important. I live in Finland and I'm on grade 9 and we were taught these on social studies.It's sad how many people in yhe US has financial issues that could be solved just by basic knowledge from school. Too bad American educatiol system doesn't focus on teaching about finance.
And btw great video as always!👍

[davenick]

Don't be just another brick in the wall!



This is why I adore this channel👌

[peacexoom]

say where do millionaires keep their money? how do rich people guarantee the safety of their money, given that the FDIC only insures up to $250K of an individual's deposits at a bank?? can you please make a vid about this topic, btw great vid :)

[jimmyking]

You are one of the few people on YT that is trying to make the general population financially literate. You are providing a essential information with a straight and understandable way, for free. You are actually providing social service, even though I know most of these things you mention, I did after searching by myself, not by simply stumbling on a short well made video.

[JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson

[OrangeMetal]

This is simply not taught at school as far as my experience goes. I'm working hard to clear my high interest debt asap and start investing. If I had this quality of advice back then I could have potentially avoided many financial mistakes and have been ahead of the curve by now. It's never too late to get on the path to financial freedom. Thanks for the informative video as always!

[happios]

It's funny that a presidential candidate name Andrew Yang actually talked about some of the points you mentioned