Savings Accounts at traditional banks pay next to nothing, in this episode, Marcus Monero explains why banks pay you nothing and how to get a better return on your savings while keeping your money safe. We as the people need to be Smart with our money , but our bank accounts is paying us nothing. I explain briefly how the banking system works as well as how the fractional reserve banking/lending system really works and allows the banks to have a special superpower that helps banks create money out of thin air. Marcus Monero has shares some historical data of the interest rates for savings and mortgages and also shares some details on online banks that offer a much better interest rates on your money compared to the traditional banks.
