How is the money made? – Interest for savers and borrowers – Part 5

Until now we have seen how the Goldsmith started with the economy of a bank, using money of others to gain with the interest that produces something that is not theirs.

As expected at some point the villagers of the place had to realize that Goldsmith was lending their own money, generating a lot of benefits for him, for this reason the villagers went to protest and made a deal that seemed to be goodoro for both sides.

Savings accounts, interest and gains:

The deal was that when a person deposited some of its gold in the Goldsmith bank , the latter should pay some interest to the villager, Goldsmith began working in this way offering savers an interest lower than the one of the lender.

On the other hand the business earnings decreased causing anger to the entrepreneur, somehow he had to make up a new tactic to regain the gold he won at first.

Acerca de Steven

Hi my name is Steven Pineda and I am who writes for you in english.
Esta entrada fue publicada en English y etiquetada , , , , , , , . Guarda el enlace permanente.

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos necesarios están marcados *

Puedes usar las siguientes etiquetas y atributos HTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>