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Non-Cattle Specific Topics
Coffee Shop
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<blockquote data-quote="alisonb" data-source="post: 704440" data-attributes="member: 13050"><p>The bank has to retain a 10% reserve so the 90% is loaned out to 'somebody'.'Somebody' then deposits the 90% into his bank account.</p><p>That bank then retains 10% and loans 90% of that amount to 'somebody else'. </p><p>'Somebody else' then deposits the 90% into his bank account.....,this happens 9 times.Each time interest is charged! :stop: :stop: How do we get off the bandwagon??</p></blockquote><p></p>
[QUOTE="alisonb, post: 704440, member: 13050"] The bank has to retain a 10% reserve so the 90% is loaned out to 'somebody'.'Somebody' then deposits the 90% into his bank account. That bank then retains 10% and loans 90% of that amount to 'somebody else'. 'Somebody else' then deposits the 90% into his bank account.....,this happens 9 times.Each time interest is charged! :stop: :stop: How do we get off the bandwagon?? [/QUOTE]
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