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The truth about Banking.


Guest Elijah Mikaelson
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Guest Elijah Mikaelson

Hello everyone

Over the last few months of hard work and pixel hugging, I have now seen the light of prominent whale status, So as I look down upon you all from the height, I now find myself I wish to pass on wisdom to you all.

So I will be honest with you all, words from someone with nothing to gain and everything to lose. 

Banks, greed, trust and lies 

First, of let's get down to the real value of a bank, many people misunderstand the benefit of banks and are dumb enough to buy into these banks, in the hope of a return.

1) Shares: If you buy shares in a bank then you must demand 2% weekly interest of the cost of those shares, so if you purchased 100m in value of shares you want 2m a week return on that investment of shares. 

2) Investment: If you invest in a bank, if it is a savings account or a bond, you must make it clear how the money must be used.
2a) Savings account, make it clear they can not loan your cash out or make a profit from your saving account, make sure you give them no more than 24 hours to send your full saving account if they fail then they are using your money to support loans, making money off your hard work and you get nothing.
2b) Investment, Make sure you have a say on where your money goes, such as if the money goes to a high-risk client make sure they pay you higher interest, the last thing you need is for you to get 2% from an investment. The bank is getting 5% due to high risk, What risk is the bank taking really, if they default the likely hood is you will lose out not the bank who has no skin in the game.

Now many people such as micro who cares about the name sold 12 billion in shares, however, loaned out 6 billion and the other 6 billion did a harry potter and disappeared. If that bank closed its doors today, all investors and shareholders lose out those running the bank do not care they made more in the last however months than they have in the time they joined us all. But it is not just small micro banks you have to be careful of its the whale banks also, let's look at Seb and Sphinx two of the biggest names in banking. Seb has had what three failed banks and every time it has always been someone else's fault, he did no wrong. Still, every time a bank failed, he got a new city, how did that happen, guess Harry potter returned for Seb. However, little old man Seb is not the only one who seems to be on the winning side of failed banks; Sphinx also seems to find a pot of gold at the end of every failed bank. When Rado left this world, it was reported he stole billions, and no one would get any interest from the bank, however a pot of gold and a new city for our boy Sphinx.

So take it from someone who has been in the mud, who has been part of and owned many banks, unless you are running the bank you do nothing but make someone else rich off your money.

SO DEMAND YOUR MONEY BACK, SELL THE DEAD SHARES.

Get a new city build some infra, and its a safer, and a high return rate than trusting some dodgy banks.

I own a bank with over 10 billion out in loans, I had 15 billion out, but as I am closing my bank down, I am building cities. As I have seen the light and the error of my ways, BANKS are just taking from you to make themselves rich nothing more. Look at the more prominent names of banking Sphinx, Seb and even myself, 40 plus cities, how many cities you on?

Side note, if you need a loan refuse to pay more than 2%, if everyone did this, the banks will have no choice but to drop interest rates, unlike my bank where all the cash is mine, all other banks have to keep investors and shareholders happy and for the most part, have to pay them weekly. THIS gives you the power to demand better interest rates. So go forth now, and any new loans refuse to pay more than 2%, watch how the micro banks fail and the whale banks dry up. Stop making other people rich and only think of yourself.

(DO NOT be dumb, however, if you already have a loan stick to the agreement, but pay it off as fast as you can, As for me in the last seven weeks I have made 2.7 billion from interest payments alone. Stop making people like me, Sphinx and Seb rich.)

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Guest Elijah Mikaelson
50 minutes ago, Changeup said:

False.

I have seen the light, however I would never join the dark side labelled as the enlightenment

1 hour ago, Denison said:

tldr

You lost me at, "Hello Everyone".

you are in KT, so yes two words is enough before your brain hurts :P

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Has any private bank worked out in this game? Seems like they all imploded eventually. 

1 hour ago, Bjorn Ironside said:

you are in KT, so yes two words is enough before your brain hurts :P

'KT man bad' quota for this week has been reached. Thank you for your contribution.

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Guest Elijah Mikaelson
15 minutes ago, Thalmor said:

Has any private bank worked out in this game? Seems like they all imploded eventually. 

'KT man bad' quota for this week has been reached. Thank you for your contribution.

Mine has worked out for close to 18 months, but that was due to all the money invested was from me and no one else making it easier to deal with lost funds and also making the most out of it, many banks pay 2% of the interest they make to bond holders and share holders, I kept all 3% to 4.5% i charged.

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12 minutes ago, Thalmor said:

Has any private bank worked out in this game? Seems like they all imploded eventually. 

Yarr. Only because we don't want your money, we will hold your money for you, and loan you our money at small interest rates to rebuild after wars. We don't care much about anything but chilling out and drinking.

 

uA9AT6d.gif

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Guest Elijah Mikaelson
3 minutes ago, Prefontaine said:

Yarr. Only because we don't want your money, we will hold your money for you, and loan you our money at small interest rates to rebuild after wars. We don't care much about anything but chilling out and drinking.

 

uA9AT6d.gif

And coming up with bad ideas

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The fact that @Alex bailed out individuals because 'banking is good for the game' is always a highlight for me. Banks generally always rip someone off.

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[11:52 PM] Prefontaine: But Keegoz is actually bad. [11:52 PM] Prefontaine: He's my favorite bad leader though.

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>trusting any Sphinx owned entity

Orion Bank was one of the biggest scams ever. 


"It was Rado"
"It was Seb"

Ever think it was an IQ bankroll?

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13 hours ago, Bjorn Ironside said:

Hello everyone

Over the last few months of hard work and pixel hugging, I have now seen the light of prominent whale status, So as I look down upon you all from the height, I now find myself I wish to pass on wisdom to you all.

So I will be honest with you all, words from someone with nothing to gain and everything to lose. 

Banks, greed, trust and lies 

First, of let's get down to the real value of a bank, many people misunderstand the benefit of banks and are dumb enough to buy into these banks, in the hope of a return.

1) Shares: If you buy shares in a bank then you must demand 2% weekly interest of the cost of those shares, so if you purchased 100m in value of shares you want 2m a week return on that investment of shares. 

2) Investment: If you invest in a bank, if it is a savings account or a bond, you must make it clear how the money must be used.
2a) Savings account, make it clear they can not loan your cash out or make a profit from your saving account, make sure you give them no more than 24 hours to send your full saving account if they fail then they are using your money to support loans, making money off your hard work and you get nothing.
2b) Investment, Make sure you have a say on where your money goes, such as if the money goes to a high-risk client make sure they pay you higher interest, the last thing you need is for you to get 2% from an investment. The bank is getting 5% due to high risk, What risk is the bank taking really, if they default the likely hood is you will lose out not the bank who has no skin in the game.

Now many people such as micro who cares about the name sold 12 billion in shares, however, loaned out 6 billion and the other 6 billion did a harry potter and disappeared. If that bank closed its doors today, all investors and shareholders lose out those running the bank do not care they made more in the last however months than they have in the time they joined us all. But it is not just small micro banks you have to be careful of its the whale banks also, let's look at Seb and Sphinx two of the biggest names in banking. Seb has had what three failed banks and every time it has always been someone else's fault, he did no wrong. Still, every time a bank failed, he got a new city, how did that happen, guess Harry potter returned for Seb. However, little old man Seb is not the only one who seems to be on the winning side of failed banks; Sphinx also seems to find a pot of gold at the end of every failed bank. When Rado left this world, it was reported he stole billions, and no one would get any interest from the bank, however a pot of gold and a new city for our boy Sphinx.

So take it from someone who has been in the mud, who has been part of and owned many banks, unless you are running the bank you do nothing but make someone else rich off your money.

SO DEMAND YOUR MONEY BACK, SELL THE DEAD SHARES.

Get a new city build some infra, and its a safer, and a high return rate than trusting some dodgy banks.

I own a bank with over 10 billion out in loans, I had 15 billion out, but as I am closing my bank down, I am building cities. As I have seen the light and the error of my ways, BANKS are just taking from you to make themselves rich nothing more. Look at the more prominent names of banking Sphinx, Seb and even myself, 40 plus cities, how many cities you on?

Side note, if you need a loan refuse to pay more than 2%, if everyone did this, the banks will have no choice but to drop interest rates, unlike my bank where all the cash is mine, all other banks have to keep investors and shareholders happy and for the most part, have to pay them weekly. THIS gives you the power to demand better interest rates. So go forth now, and any new loans refuse to pay more than 2%, watch how the micro banks fail and the whale banks dry up. Stop making other people rich and only think of yourself.

(DO NOT be dumb, however, if you already have a loan stick to the agreement, but pay it off as fast as you can, As for me in the last seven weeks I have made 2.7 billion from interest payments alone. Stop making people like me, Sphinx and Seb rich.)

Now...tell us something we don't know?

This being said, banks exist because most econ heads (with exceptions of course) generally don't know how to invest in their own alliance's growth adequately. Too much book-keeping and not enough actual economics. A perfect example of this mindset is the tendency for governments to raise taxes in order to increase funds for government usage versus increasing the tax base of an alliance via the application of sound economic policy.

Edited by Thorkell Hardrada
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18 hours ago, Rossiya said:

Banks screw their investors and customers based on mutual consent. Who are you to tell them how to live their lives?

A warning was issued.

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Honestly all of your advice is just to mitigate the risk of investment in shady banks with little or no transparency.

Just don't invest in people you don't trust, you don't need to avoid banks.

 

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1 hour ago, Roberts said:

Honestly all of your advice is just to mitigate the risk of investment in shady banks with little or no transparency.

Just don't invest in people you don't trust, you don't need to avoid banks.

 

This. I can attest to the existence of at least 2 trustworthy and well-run banks, and I'm sure there are others.

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On 3/29/2020 at 8:18 PM, Bjorn Ironside said:

And coming up with bad ideas

Actually, I agree with most of your statements Bjorn, but I founded Yarr to address the same concerns rather than keep !@#$ing about them. In our 3 years of existence:

- We have never screwed anyone

- If we took a hit due to a raid, we replaced deposited funds with our own

- We have never paid interest on deposits

- We lend our own savings

- And cctmsp13 devised a way for us to lend people's deposits, have them participate in the decision on who it will be lent to, and then track it all. And we don't take a cut.

Where is our profit you may ask? This activity gives us retirees a role in Orbis, a way to stay relevant in our retirement.

And that lies at the heart of the problem with banking - as a money making venture, if done honestly, there is NO MONEY TO BE MADE. At best you keep up with inflation, and at worst, the people who put it together feel a sudden pang of entitlement, wig out, and steal the bank, justifying themselves that it makes up for the service charges not charged...

In short, a greedy or blingy banker is a future thief.

Seb is a member of Yarr now, and of course doing his side deals. You came visiting our Discord, made similar accusations (which I did not necessarily disagree with), but failed to present any evidence, so I asked you to stop, and you did. Yet the problem persists, and reappears on a public forum. If you have evidence of his wrongdoing, please post it here and we can take a look at it. 

Yarr's credibility is our core product.

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Are you originally from Earth, too?

Proud owner of Harry's goat. It's mine now.

I now own MinesomeMC's goat, too. It's starting to look like a herd.

Yep, it is a herd. Aldwulf has added his goat, too, and it ain't Irish.

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On 3/30/2020 at 2:28 AM, Bjorn Ironside said:

Savings account, make it clear they can not loan your cash out or make a profit from your saving account,

Yep. Money just sitting there will generate money to pay for the SA interest.

im actually confused man. i know im returning from a year long break but damn hasnt the banking industry ruined its reputation. and heres the deal. not all ban ks invest in the market to be able to immediately liquidate assets to pay withdrawing clients. To be quite frank, most rely on only loans as a source of revenue. Its common sense that its not viable to not loan out SA funds.

But i do have to agree with you on the transparency and control aspect that you talked about in 2b. Unfortunately thats something that most overlook.

but well, if suddenly all clients demand a 2% interest, and people also expect a 2% share dividend, then well, almost every bank would crumble just because not every coin is loaned out all the time.

but yeah, i agree with you in the whole harry potter gains by a few individuals. afterall, our rep wouldnt be here if not for them.

Edited by Blitz
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13 hours ago, Prefonteen said:

You're saying the concept of banking is founded on the leverage of investor wealth to drive profit for the banker?

I think he banked too much with his own cash that he didnt get that point lol

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On 3/30/2020 at 11:03 AM, Thorkell Hardrada said:

Now...tell us something we don't know?

This being said, banks exist because most econ heads (with exceptions of course) generally don't know how to invest in their own alliance's growth adequately. Too much book-keeping and not enough actual economics. A perfect example of this mindset is the tendency for governments to raise taxes in order to increase funds for government usage versus increasing the tax base of an alliance via the application of sound economic policy.

Ain't nothing truer, we need  more creativity and actual Economic policies not the regular tax thingy...and yes too much book keeping already

Edited by Whizzy
:)
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