How do banks know that accounts have "real" money in them?
Lets say i worked at a bank and I went into an account and typed in that it has a million dollars in it. Then I went to another bank and opened an account. Then I transferred the million to the new bank account.
how would they know the money was never "real"
>you can't do that because you would have to have bank access it could be done some person or small group could literally buy or create a small bank then do this 20 times and cash out then exit scam to another country....
>thinking that this isn’t the bank’s business model already Fractional reserve lending, look it up
Jack Turner
he needs to eat
Dylan Jackson
if you typed in you have 1 million you would have to of deposited it , and so yes if it is on the computer, until it is corrected then you have that money in your account
Kayden Brown
>Why can't I just commit fraud with a direct paper trail leading right to me?
Asher Wood
This is already a thing, you think the money in banks are backed up by actual bills or anything at all? LOL
The Fed if you forget gave banks a license to loan money with zero backing, not even 1/30th of the actual loan. Nothing. Funny money, heres your free money sir, bam money printed into the system.
As said, except much much worse since they dont need ANY reserves, not even fractional. Now its zero reserve lending.
Dominic Lopez
>what is a clearing house
Landon Hill
Security through obfuscation, there are so many moving parts in a bank and so many people have so many redundant or highly specialised jobs that its quite possible that even if someone DID have that kind of access, they wouldn't know it, they wouldn't know what kind of checks and balances there might be somewhere down the line, so while yes in principal there is a central point at which there are no more checks afterwards, its unlikely that anyone would know they are the last stop.
