How Banks Keep You Poor (The Truth)

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  • Опубліковано 30 січ 2025

КОМЕНТАРІ • 361

  • @NateOBrien
    @NateOBrien  5 років тому +134

    Hi everyone. Please excuse my horrendous artistic skills (see Kevin & neighbors)... If you found value in this video, please consider dropping a like and sharing it on social media. It would make my day. Thank you for supporting the channel!
    - Nate

    • @pnu504horaceakatimekeeper3
      @pnu504horaceakatimekeeper3 5 років тому

      I would like to open up a bank account I live in Conyers Georgia can you tell me the best bank to bank with

    • @pnu504horaceakatimekeeper3
      @pnu504horaceakatimekeeper3 5 років тому

      I have another question if I was to save $100 a week in a bank how much percent should I ask 4 in interest

    • @pnu504horaceakatimekeeper3
      @pnu504horaceakatimekeeper3 5 років тому

      @Elliot Rodger not familiar with Ally my friend can please explain

    • @gustavomartinez1412
      @gustavomartinez1412 5 років тому +1

      Man you are awesome. I liked what you said about investing on the U.S goverment. I did not know you could do that but here's my question.. How can i do it?

    • @armandol1826
      @armandol1826 5 років тому

      Pnu504 HORACE AKA TIMEKEEPER Charles schwab investor checking account

  • @ChrisInvests
    @ChrisInvests 5 років тому +165

    It's amazing the amount of financial education people can get on here for free 😀👍

    • @NateOBrien
      @NateOBrien  5 років тому +49

      A degree from UA-cam University ha

    • @ChrisInvests
      @ChrisInvests 5 років тому +2

      Seriously so valuable

    • @financiallyinvested679
      @financiallyinvested679 5 років тому +3

      Chris Invests - Personal Finance Videos this is why I love UA-cam.

  • @WhiteBoardFinance
    @WhiteBoardFinance 5 років тому +116

    There's a reason it isn't taught.

  • @dustywilson5461
    @dustywilson5461 5 років тому +234

    You and Graham Stephan are the rockstars of the finance channels on UA-cam. Thanks for all of your efforts and dedication.

  • @chrisglaze1410
    @chrisglaze1410 5 років тому +23

    I love how banks take the money in your accounts and invest it to make money while they pay zero or little to no interest. Changed my view on the financial world when I found this out.

    • @NateOBrien
      @NateOBrien  5 років тому +2

      It definitely helps to understand!

  • @KevinConwayChannel
    @KevinConwayChannel 5 років тому +136

    I am a lawyer. Spent many, many years in school. This is the TRUTH.

    • @NateOBrien
      @NateOBrien  5 років тому +30

      Thank you Kevin. It’s so sad that the schooling system rarely discusses personal finance!

    • @KevinConwayChannel
      @KevinConwayChannel 5 років тому +9

      Nate O'Brien good thing we have channels like these to fill in the gaps 👍. Really enjoy your content.

    • @owentrout390
      @owentrout390 5 років тому +5

      “Spent many years in school” nice, same

    • @saylegendssayclan939
      @saylegendssayclan939 5 років тому

      You‘re a Bar keeper

    • @maonyksmohc9574
      @maonyksmohc9574 5 років тому +1

      @@NateOBrien No that would just increase the number of financially educated people which makes it harder for us

  • @RealLifeMoney
    @RealLifeMoney 5 років тому +82

    Borrower is slave to the lender. If you’re always the one asking for money then you’ll never be the one who has it 🙌

    • @NateOBrien
      @NateOBrien  5 років тому +16

      “Knowledge” - tai lopez

    • @user-oy9zy4ds9m
      @user-oy9zy4ds9m 5 років тому +10

      Not if you borrow money to buy stuff that makes you more money.... then you’re essentially making money for free

    • @paulseruwe1870
      @paulseruwe1870 5 років тому +3

      @@user-oy9zy4ds9m dude i like your response, people should know that borrowing money to buy assets is the best idea ever! Saving is for losers😂

    • @armandlourens4863
      @armandlourens4863 4 роки тому

      @@NateOBrien Haha @CodyKo😂 Knowledge!

    • @jesussaves5141
      @jesussaves5141 4 роки тому

      Well said Nick

  • @thecapone45
    @thecapone45 5 років тому +46

    Hmm. At first I was kinda iffy about this channel since Nate seemed a bit lacking in confidence. But now I am
    Liking this channel for the same reason I like Graham’s channel. They’re both so real and honest and not pretentious. Graham is frugal and happy and records from his house that he house hacks. And Nate here talks to us like he’s actually talking to us face to face as we’re hanging out or something.
    Idk, just seems like a very authentic and down to earth personality.
    Love it, man!

    • @NateOBrien
      @NateOBrien  5 років тому +9

      Thank you Toni, I am not a natural speaker but I like to think that I have been improving over time. The content on this channel will always be free

    • @Michelle-pn9xt
      @Michelle-pn9xt 5 років тому +2

      It probably was not a lack of confidence. It probably had more to do with being new to UA-cam. Starting anything new is a process. It takes a little pick of time to find the place of comfort for you.

    • @broccolihighkicks3857
      @broccolihighkicks3857 5 років тому +2

      He’s only 21 c’mon dude. He’s super bright and wise for his age :)

  • @Forex_Uncovered
    @Forex_Uncovered 5 років тому +56

    The schooling system is indeed a problem, here in Ghana too. More financial education is needed to empower students for the future. Great video as always Nate! 🚀💯💫

    • @NateOBrien
      @NateOBrien  5 років тому +9

      They really need to teach personal finance in schools

    • @milud900
      @milud900 5 років тому +3

      That’s why only 1% of the population is rich.

    • @natashadickson4819
      @natashadickson4819 3 роки тому

      Nothing is stopping Ghana from including financial education.

  • @dangeles95
    @dangeles95 5 років тому +52

    Fractional reserve banking is WAY worse than you described it. A major bank can take your $1000 and can legally lend out $10,000 plus interest to another person. It’s scary that it’s legal.

    • @halvey8518
      @halvey8518 5 років тому +10

      Too big to fail. Until they do.

    • @adventuretrails1ato
      @adventuretrails1ato 5 років тому +1

      Correct!!!!

    • @vineripeeggs7832
      @vineripeeggs7832 5 років тому +3

      How do they even do that

    • @happios
      @happios 5 років тому +6

      Dan Angeles that's why we bailed out the bank with 4 trillion dollars. Yet pwople thinks the freedom dividend of $1000 a month is bad for people.

    • @IndexInvestingWithCole
      @IndexInvestingWithCole 3 роки тому +1

      That is completely wrong. How would a bank lend out $10,000 if they only have $1,000?

  • @solk.posner7201
    @solk.posner7201 5 років тому +79

    "It's not like the harry potter scene going down to the caves and finding a little pile of gold or what ever the hell that was".
    😂🤣😂🤣

    • @NateOBrien
      @NateOBrien  5 років тому +21

      It was the first thing that came to mind. I don't script these videos

    • @vhiliciouslyrics1163
      @vhiliciouslyrics1163 5 років тому +6

      Nate always has great jokes

  • @NickPeitsch
    @NickPeitsch 5 років тому +121

    Banks can make you rich or poor - depending on how you use them to your advantage ;)

    • @VimiksMC
      @VimiksMC 5 років тому +2

      amen brotha

    • @NickPeitsch
      @NickPeitsch 5 років тому +1

      @@VimiksMC Thanks brotha haha

    • @90deltaderivatives35
      @90deltaderivatives35 5 років тому +2

      My Nontraditional Life leveraging debt... Study it my friend 🙏🏽

    • @ViktoriyaChuprov
      @ViktoriyaChuprov 5 років тому +14

      Agreed! My husband borrowed 20k 0 interest for one year and paid back within that time accumulating in assets of over 100k. Gotta know how to be smart and play them at their own game ;)

    • @DAVENATCHSTOCKS
      @DAVENATCHSTOCKS 5 років тому +2

      I’m sure he paid a 1-time fee

  • @jimmyking92
    @jimmyking92 5 років тому +1

    You are one of the few people on YT that is trying to make the general population financially literate. You are providing a essential information with a straight and understandable way, for free. You are actually providing social service, even though I know most of these things you mention, I did after searching by myself, not by simply stumbling on a short well made video.

  • @ShaneHummus
    @ShaneHummus 5 років тому +48

    This needs to be a part of school curriculum.

    • @NateOBrien
      @NateOBrien  5 років тому +5

      It really does...

    • @Weebwhacker
      @Weebwhacker 5 років тому +1

      They did for my school but they dont have the teachers teach it, just computers and a boring envienvirome. They dont do anything to get the students more involved nor interested, they give a topic, make students read it, take a quiz on it, repeat

    • @Shorts-ul4my
      @Shorts-ul4my 5 років тому +4

      Indeed. People grow up being taught how to spend money, instead of investment.

    • @b4804514
      @b4804514 5 років тому +2

      Your parents are really responsible to teach you about money. However they are just as irresponsible as the schools and no one is educated. The real estate crash can happen again because there was no education on what and why and how to the public to avoid it again. The wealthy want to take advantage as much as possible and will keep it up until the country is broke

    • @dedwinx8040
      @dedwinx8040 4 роки тому

      @@b4804514 Yeah but u cant expect parents that were never taught themselves to teach their kids how to use money, its just one big chain reaction of ignorant people. Its best if the government takes charge and teaches the kid this so they can more efficiently stop this problem.

  • @JohnDaniels
    @JohnDaniels Рік тому +3

    "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson

  • @tah4627
    @tah4627 5 років тому +2

    Stumbling across your channel was one of the best things that’s happened. My bank account and peace of mind, thank you.

  • @ZacharyLaid
    @ZacharyLaid 5 років тому +28

    Banks are like vampires sucking the value out of your hard earned money, keeping all of your money in the bank is not the way to go, rather it should be invested.

    • @NateOBrien
      @NateOBrien  5 років тому +8

      Exactly. They are in the business of making money... off of you

    • @nicebars
      @nicebars 5 років тому +2

      Do you or Nate have any recommendations for beginner's investing books?

    • @ZacharyLaid
      @ZacharyLaid 5 років тому +3

      @@nicebars Intelligent Investor by Benjamin Graham

  • @OrangeMetal100
    @OrangeMetal100 5 років тому +4

    This is simply not taught at school as far as my experience goes. I'm working hard to clear my high interest debt asap and start investing. If I had this quality of advice back then I could have potentially avoided many financial mistakes and have been ahead of the curve by now. It's never too late to get on the path to financial freedom. Thanks for the informative video as always!

    • @NateOBrien
      @NateOBrien  5 років тому +1

      It's never too late! You are correct

    • @jadiecakes3241
      @jadiecakes3241 5 років тому

      is it possible for you to move your debt to another bank with a lower interest rate? I did that last year and I worked out my interest payments went down by around 5 grand over the term of the loan.

  • @saddreams3449
    @saddreams3449 5 років тому +39

    I thought these things were automatically taught in American schools since they are so important. I live in Finland and I'm on grade 9 and we were taught these on social studies.It's sad how many people in yhe US has financial issues that could be solved just by basic knowledge from school. Too bad American educatiol system doesn't focus on teaching about finance.
    And btw great video as always!👍

    • @leifc.6045
      @leifc.6045 5 років тому +3

      loans with high interest nah. Assets yes.

    • @fryrish7749
      @fryrish7749 4 роки тому +3

      I don't think the banks (and other powerful parties) would be very happy if more people were better with their money.

  • @herbertuba4052
    @herbertuba4052 5 років тому +5

    Oh, man! I'm from Zimbabwe and, not that it matters, but it's still happening right now. Learning a lot, Nate. Keep going.

    • @ladybird491
      @ladybird491 3 роки тому

      What he is talking about where you are from?

  • @remmiellis
    @remmiellis 5 років тому +6

    I worked at a bank for a year and it just baffled me the number of people that see it as the only place to park their money. There’s so many other options that will grow their money instead of locking it in.
    🔥🔥 vid as always man

    • @mr.madulo9193
      @mr.madulo9193 5 років тому +1

      such as??

    • @remmiellis
      @remmiellis 5 років тому +2

      MR. Madulo if someone’s sole purpose for using a savings account at a bank is to keep it somewhere so it isnt stolen or destroyed, they would do well to consider opening an IRA or just buy CD’s/Bonds if they aren’t risk takers. Your money can’t work for you if you park it in a savings account at 0.01% interest 💰💰

    • @SoundMind.
      @SoundMind. 5 років тому +1

      MR. Madulo online banking accounts (preferably ally bank) or any high yield online savings account, real estate

    • @mr.madulo9193
      @mr.madulo9193 5 років тому +2

      ​@@remmiellis I mean, nowadays laws force you to have your money in a bank, isn´t it??

    • @remmiellis
      @remmiellis 5 років тому +1

      MR. Madulo you are not legally obligated to keep your money in a bank no

  • @silviyapynzaru
    @silviyapynzaru 5 років тому +8

    I love how informative your videos are. Keep going!

  • @mauntaxthelegend3188
    @mauntaxthelegend3188 4 роки тому +1

    THANKS!Always wanted to get this more clear love your channel!

  • @davenick4395
    @davenick4395 5 років тому +42

    Don't be just another brick in the wall!
    This is why I adore this channel👌

    • @NateOBrien
      @NateOBrien  5 років тому +6

      Yes! Thank you for supporting the channel!!!

  • @thedebtreliefcompany
    @thedebtreliefcompany 5 років тому +4

    Take deposits, lend out everything except reserves. Take more deposits and lend out everything except reserves. It's insane how far a $100 deposit gets stretched out! Thats why Money & Banking was always the most interesting class in college for me

    • @laurenwilson4070
      @laurenwilson4070 5 років тому +1

      School doesn't teach this but University does

    • @NateOBrien
      @NateOBrien  5 років тому +1

      I wish I took that class in college

    • @thedebtreliefcompany
      @thedebtreliefcompany 5 років тому

      @@NateOBrien Will never forget my professor. Insanely smart woman

  • @peacexoom4936
    @peacexoom4936 5 років тому +12

    say where do millionaires keep their money? how do rich people guarantee the safety of their money, given that the FDIC only insures up to $250K of an individual's deposits at a bank?? can you please make a vid about this topic, btw great vid :)

    • @HearMeLearn
      @HearMeLearn 5 років тому +3

      They just split up their money between different accounts, unavoidable to have no money uninsured if you’re too rich

    • @ValentinaCabo
      @ValentinaCabo 3 роки тому

      Watch the episode of explained "millionaires" on Netflix

  • @Division-001
    @Division-001 5 років тому +3

    I don’t have have money in the bank it’s all in my Robinhood account and other investment. Love your content

  • @ZacharyLaid
    @ZacharyLaid 5 років тому +28

    While Nate Is Keeping You Rich

    • @NateOBrien
      @NateOBrien  5 років тому +3

      😮😮😮

    • @ZacharyLaid
      @ZacharyLaid 5 років тому +2

      @@NateOBrien I love how modest you can be my guy

  • @razak8528
    @razak8528 4 роки тому

    Nate your content is already good. Stop asking people to like your videos. TY.

  • @NaamWynn
    @NaamWynn 5 років тому +13

    Banks know how to leverage your money, while most people don’t! Let’s be the banks! 💵🏦

  • @HelloYatta
    @HelloYatta 5 років тому +2

    Love your videos Nate! Thank you for using your talents to educate us on personal finances

  • @oscarronderos6683
    @oscarronderos6683 5 років тому +1

    I'm from Venezuela, where current inflation rate is 100,000 PERCENT. What you said with piles of money actually happened in my country. There was a time it was better value to use bills as napkins than buying napkins. What Nate's saying is real shit, and it's happening right now. Thank you!

  • @Bigshiesty1
    @Bigshiesty1 5 років тому +2

    Today was my last day of my high school freshman year, I am so shocked I never learned about what he explained in class. Just what an equation is about.

  • @nicola-socialmediasuccess8687
    @nicola-socialmediasuccess8687 5 років тому +15

    Very interesting point of view!
    This added value to my money mindset 💪🔥

  • @michaelpettke9959
    @michaelpettke9959 5 років тому +10

    Might just have to share this with my economics teacher 😶

  • @DamonLeeK
    @DamonLeeK 5 років тому +8

    Those drawings are a work of art!

  • @Lisa.M.J
    @Lisa.M.J 5 років тому +2

    Maybe if more people understood that financial institutions: like banks & credit card companies, actually rely on consumer ignorance, they’d be more willing to fight for financial education in schools. Unfortunately the way things are, some of us are still dealing with people stuck in:”That sounds way too complicated for me.”🙄

  • @PatrickCogen
    @PatrickCogen 5 років тому +9

    Informative video Nate! Keep up the good work:)

  • @user-lz6dm5lk9y
    @user-lz6dm5lk9y Рік тому +1

    YES!!! Thank you for telling the truth!!!

  • @jameswilliamcampbell
    @jameswilliamcampbell 4 роки тому +1

    Nate, good job on the channel! Thank you

  • @JoshRyan
    @JoshRyan 5 років тому +3

    Curious, why would anyone get a loan to then put it into their checking account?

    • @peterpan-wh1iv
      @peterpan-wh1iv 4 роки тому

      it dont matter. even if they buy a car with the money, the car seller will put the money in a bank..... eventually the money goes back into a bank

  • @AuthorPreneurElite
    @AuthorPreneurElite 5 років тому +1

    Awesome topic Nate. Very sophisticated. Fractional reserve banking and fiat currency are a scam.
    I’m teaching my kids to start their own businesses at age 11 and 8 so they have CASH when they’re older.

    • @NateOBrien
      @NateOBrien  5 років тому +1

      Wow! I cannot imagine how successful they will be! I wish someone did that for me when I was younger!

  • @ZXC_ZXC1
    @ZXC_ZXC1 5 років тому +1

    FRB can cause the money supply on your deposit to increase up to 900% with a 10% lending reserve. It doesn't mean one bank can lend out 10 times your deposit as many videos claim.

  • @bernadettgal8407
    @bernadettgal8407 4 роки тому

    Fun fact: the worst inflation was in Hungary in 1945 with 4.19*10^6 % /month. It means that the prices were doubled every 15 hour. In 1946 the “pengő” was swiched to “forint”(HUF). That time 1 forint worth 4*10^29 pengő

  • @Antionettelee
    @Antionettelee 5 років тому +3

    Your channel is so helpful. You gave me alot tips and tricks for my own youtube channel.

    • @NateOBrien
      @NateOBrien  5 років тому

      Thank you! Glad you enjoy the videos

  • @XclusiveOfficial
    @XclusiveOfficial 5 років тому +3

    Great video man, keep up the great work. Your channels really taking off

  • @happios
    @happios 5 років тому +11

    It's funny that a presidential candidate name Andrew Yang actually talked about some of the points you mentioned

  • @BrentInvesting
    @BrentInvesting 5 років тому +2

    Nice Video - Good Content, I had economics in highschool, they taught some stocks/savings - but not a "why to invest" etc.

    • @NateOBrien
      @NateOBrien  5 років тому +2

      My high school didn't even offer economics

    • @BrentInvesting
      @BrentInvesting 5 років тому +2

      ​@@NateOBrien Ah Dang not sure if it was elective or not - I graduated in 04, but I know during econ class I had read Rich Dad Poor Dad - it had came out ~2000 I think, so we read it. Our teacher handed us a stock sheet of popular stocks and started with $10k, we had to choose stocks, I don't remember much else. 10k was a lot back then in highschool, now 10k is an normal emergency fund lol.

  • @kaceykace7421
    @kaceykace7421 5 років тому +3

    So, in your example, is the bank giving out a fraction of the same $1000 to each of those people?
    If so, they are making the interest from each person as well?

  • @roxannebrown5384
    @roxannebrown5384 5 років тому +2

    Thank you! You are so real and so smart!!

    • @NateOBrien
      @NateOBrien  5 років тому +2

      Thank you Roxanne, hope you found the video useful!

  • @bfsbev4740
    @bfsbev4740 5 років тому +11

    Lucky Kevin, lol. Real estate is usually a winning route, never had any regrets with that path. Great info, thanks for sharing.

  • @vanessabayardo9788
    @vanessabayardo9788 5 років тому +2

    My bank keeps me poor by taking 20 dlls or so per month if I don't have a certain amount or if I don't get at least a two hundred something deposit per month. My work requires direct deposit but then for the summer it is really frustrating.

  • @AnthonyTran
    @AnthonyTran 5 років тому +1

    This came at the perfect time. I was just going to switch banks this week.

    • @NateOBrien
      @NateOBrien  5 років тому

      Makes me happy to hear it!

  • @CrazyTobster
    @CrazyTobster 4 роки тому

    Some traditional banks offer profits rates instead of using interest rates. These types of banks offer a higher return.

  • @financiallyinvested679
    @financiallyinvested679 5 років тому +3

    You’re going to go far in life Nate. I wish I learned about money in my early 20s. I started learning at 25, I’m 32 now.

    • @NateOBrien
      @NateOBrien  5 років тому

      Thank you for those very kind words. Even at 32 you are much further than 90% of your peers

  • @vicpagan
    @vicpagan 5 років тому

    Keep it up man your a good motivator for me. I am thankful for your videos, and for you sharing your knowledge.

  • @corinem9597
    @corinem9597 4 роки тому +1

    What about tangible precious metals, aren't they protection against inflation etc?

  • @ramimmollah4624
    @ramimmollah4624 5 років тому +2

    Nate, great video. Really helped me out.

  • @commonsenseamerican6702
    @commonsenseamerican6702 5 років тому +4

    You mean the federal reserve, O sorry yea the banks... (gets shot)

  • @josephaspinall9470
    @josephaspinall9470 Рік тому

    Can you imagine banks being so corrupt that when you get half way through a high interest high payment loan you start to have misfortune forcing you to have the asset repossessed so they can keep what you paid into it and have the asset in full. What if they caused it through private, illegal, or even professional avenues? This needs to be investigated and ppl need to be aware of the possibility.

  • @allegedpancake2344
    @allegedpancake2344 5 років тому +1

    There’s a math class in my school that’s basically a mixture of personal finance, taxes, budgeting, and a bunch of other real life stuff.
    HOWEVER it does not satisfy the regents scholars so if you get a credit from that math class it’s not going to count towards university scholarship eligibility
    Edit: grammar

  • @KaiAndrew
    @KaiAndrew 5 років тому +3

    People need to understand that banks can serve as a financial tool and conduct themselves as a business. It's not a non-profit or NGO. Totally agreed with the school system failing miserably at prepping young minds with personal finance. I'd argue that is more of the reason that keeps people poor rather than banks. Also, not quite following your Kevin and neighbor analogy. If Kevin pulls a car loan or mortgage, he never touches the cash. It goes straight to the seller of said car or home. The loan will never touch his account, unless it's a personal loan or HELOC. And in that case if you ever pull out a loan to just put into your savings/checking account you probably have much larger financial issues.

  • @AngelGuerratherealme
    @AngelGuerratherealme 3 роки тому +1

    Then where should I put my money ?

  • @demon873
    @demon873 5 років тому +1

    As always, an amazing informative video, thank you very much man!

  • @TheGiantfox
    @TheGiantfox 5 років тому +2

    I always like the vide before even watching!

  • @jadiecakes3241
    @jadiecakes3241 5 років тому +1

    My mum taught me that the reason you get interest is the bank paying you for lending your money to others. So your getting 2% and the bank is making 18% profit on a 20% credit card for example. Solution? Become a loan shark haha
    we did do shares as part of a math assignment, but that was about it. And it obvs didnt include the fee's you would pay. But I wish they had taught us more. They did try to teach us about resumes and how to grocery shop (wish i'd paid more attention to that!) but nothing about interest or other forms of investment.

  • @justintaylor-moneymindset4073
    @justintaylor-moneymindset4073 5 років тому

    This is straight money! Why isn’t this kind of stuff taught more in school

  • @rajeegrace9140
    @rajeegrace9140 5 років тому +3

    Banks don’t keep you poor, people keep themselves poor💯

  • @justdreaming3869
    @justdreaming3869 5 років тому

    Awesome video, thanks!!

  • @owentrout390
    @owentrout390 5 років тому

    To prevent someone from having to watch this video essentially inflation makes your money worth less. Not the banks fault. By putting your money in a bank you take no more losses then storing it elsewhere and in fact by storing elsewhere you miss out on interest which would help defend against inflation

    • @adamthomas6524
      @adamthomas6524 5 років тому

      Owen Trout Inflation is the banks fault because the banks are the ones that create the currency

  • @shameem6426
    @shameem6426 4 роки тому

    ok, I got your point. But, where we should keep it safe and we are not at loss either.

  • @adventuretrails1ato
    @adventuretrails1ato 5 років тому

    Your a smart person! You have your facts on point!!

  • @ricanking20
    @ricanking20 5 років тому +2

    6:57 it might still be
    Mike Maloney Gold&Silver
    Episode 4

  • @rookd1137
    @rookd1137 5 років тому +1

    Great advice my man

  • @majhoool100
    @majhoool100 5 років тому

    Personal finance is necessary to learn

  • @FJParravicini
    @FJParravicini 5 років тому

    Great video Nate!

  • @davidlopez-rl4sh
    @davidlopez-rl4sh 5 років тому +1

    how would i know if online banking is good for my situation?

  • @dynastus
    @dynastus 5 років тому +2

    The fractional reserve system is kind of messed up. 🤦‍♂️ It does impact the value of our dollars more significantly that we think.
    The CPI is how inflation is measured, but the QUALITY of these goods isn't something that is quantified. 🍕Low nutrition food doesn't increase in price as quickly as healthy food. 🥑
    Same thing with a lot of other stuff like electronics - they're getting relatively cheaper. And again with wage growth and job availability. It's all relative.
    👉TLDR; Basically, what I'm getting at is that inflation is much higher than we think due to the quality of goods and people's earning potential being lower.📈

    • @NateOBrien
      @NateOBrien  5 років тому +3

      You bring up a very interesting point. Economics is such an interesting field of study. The economy is a beast that we will never be able to fully understand or predict

    • @dynastus
      @dynastus 5 років тому

      @@NateOBrien 100% agree there.

  • @milekrizman
    @milekrizman 5 років тому +1

    Financial education should have been introduced in schools since early 1970's

  • @PoyZonUsProDeuce
    @PoyZonUsProDeuce 5 років тому +1

    Great explanation

  • @beanjuiice5569
    @beanjuiice5569 Рік тому

    Good video very helpful I’m gonna fact check this and come back thanks

  • @EpicStays
    @EpicStays 5 років тому

    why would you take out a loan from a bank just to put it back into the bank (your checking account)?

  • @nicholasarmenta6617
    @nicholasarmenta6617 4 роки тому

    i really liked this video bro💯💯💯

  • @DrSuryaPSingh
    @DrSuryaPSingh 5 років тому +1

    Informative Good Work✌🏻😇

  • @ryangioe8022
    @ryangioe8022 5 років тому

    Great content, keep it up!

  • @ngankhong9029
    @ngankhong9029 5 років тому

    I was so lost when you try to explain the connection of putting $1000 into the bank and the inflation rate... like I was expecting a cause-effect explanation, but no... lol

    • @exgamer07
      @exgamer07 5 років тому

      He was missing the central bank (FED) and Treasury Department components. Inflation is caused by the Treasury printing more bank notes than what is backed in gold. The United States has been off the gold standard and officially on a fiat system since 1971 but technically starting in 1933.
      The central bank (FED) then issues these notes to commercial banks throughout the country at what's called a prime rate. The prime rate is then adjusted up and down in order to control the rate of inflation.

  • @user-vv8lg9vk6r
    @user-vv8lg9vk6r 5 років тому +1

    What pomade you use?

  • @adyx700
    @adyx700 5 років тому +6

    It would be a good content about how to start with stock market

    • @NateOBrien
      @NateOBrien  5 років тому

      I have a video on that 😉

    • @WitchLuw
      @WitchLuw 5 років тому

      @@NateOBrien like Ricky Gutierzz

  • @frankisawesomee
    @frankisawesomee 3 роки тому

    What would happen if everyone wanted there money from the bank but the bank doesn’t have any money in reserves ?

  • @makesaveinvest1401
    @makesaveinvest1401 5 років тому +3

    Stocks have huge return if done smartly!!

    • @NateOBrien
      @NateOBrien  5 років тому +2

      The key is to do it smartly :)

    • @makesaveinvest1401
      @makesaveinvest1401 5 років тому

      True. Index funds allows you to, in a way, ride the market! I started that way. @Elliot Rodger

    • @alimilne8947
      @alimilne8947 5 років тому

      Elliot Rodger that’s a fatal error

  • @samgrands9108
    @samgrands9108 5 років тому +2

    Ur the best nate

    • @NateOBrien
      @NateOBrien  5 років тому +1

      Thank you Sam 🙏🏼

  • @vidform
    @vidform 5 років тому +1

    One of Andrew Yang's many policies is free financial counseling for all. I hope it's as helpful as your videos and Graham Stephan's.

  • @kennyavallon3466
    @kennyavallon3466 5 років тому

    This is a very helpful video. Central banks and fractional reserve banking are oppressive tools which contribute to wealth inequality. Bitcoin anyone?

    • @KA-iq2ko
      @KA-iq2ko 5 років тому

      Banks want to control cryptocurrencies

    • @kennyavallon3466
      @kennyavallon3466 5 років тому

      @@KA-iq2ko that's true because they know bitcoin is a huge threat. Banks have no way to control bitcoin though.

  • @gokulbalaji5733
    @gokulbalaji5733 3 роки тому

    I agree that banking charges are very costly and by keeping money in bank account will lead to losing money value due to inflation. But I disagree with your view that banks are responsible for inflation. Bank's business is to lend the depositors money for loans after making a provision for liquidity. This is commonly known as statutory liquidity ratio which is fixed by central Bank. The effect you explained is money multiplier effect. Banks are a guardians of financial structure of a country and that is why even after a decade bitcoins can't replace bills. The interest rate provided by banks is risk free rate as even if deposit collapses, insurance kicks in. Banks do profit from our money but they are not responsible for keeping us poor.

  • @tee1856
    @tee1856 5 років тому

    How different is American Banks in comparison to Canadian Banks? Like do they follow the same basic financial structure?

    • @NateOBrien
      @NateOBrien  5 років тому

      From my understanding yes.

    • @adamthomas6524
      @adamthomas6524 5 років тому

      This banking system is adopted by almost banks globally

  • @jackwang660
    @jackwang660 3 роки тому +2

    If grandma can hide that $1,000 under bed since 60s, why can’t you?

  • @luisgarcia-tb9jh
    @luisgarcia-tb9jh 5 років тому

    I have a saving account with pnc bank , got it 4 months ago and it was 2.35% , but now they lowered to 2.15% , how common/ why do they lower the interest rates?

  • @shri2947
    @shri2947 Рік тому

    People also invest plus clear portion of their debts which is wrong. They have to clear debts plus 10% liquidity for emergency expense

  • @Afrocow
    @Afrocow 3 роки тому +2

    Banks are a middleman, great for liquidity if that's what you need. They're useful to funnel money into as a preliminary step to where you want to direct and partition the funds. I disagree with your title. Banks don't keep you poor, most just have an unclear concept of the time value of money, inflation, and how to outpace inflation by asset and portfolio diversification.

  • @brassj67
    @brassj67 5 років тому

    It should be pretty obvious that banks make their money by lending your to others at extortionate rates. A lot of people default on their loans so there's is some inherent risk to the banks lending other peoples money