Hazerd wrote:What would the world be like if Banks and Credit card companies didnt collect interest.... would the banks and credit card companies go out of business?
The more you make the more you can borrow. The more you borrow the more interest the loaners make. - our economy.
Hazerd wrote:What would the world be like if Banks and Credit card companies didnt collect interest.... would the banks and credit card companies go out of business?
They simply wouldn't be banks and credit companies anymore. If there's no interest, why would they lend you money?
That's the whole basis of lending money. I give you some money now, and you give me back more in the long term. House loans, investing in a company, etc, you're paying for the service of getting a lot of cash now.
Blizzard Entertainment Software Developer - All comments and views are my own and not representative of the company.
