Your money is cheating on you (with your bank)

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What do banks really do with your money? Unfortunately for us, they're not exactly being truthful about what they do with our money.

When you make a deposit into your bank account, you might think your bank has to keep it there. But this just isn't the case. Most banks work on a system called Fractional Reserve Banking, where they're only legally required to keep a tiny amount of your deposit in the bank. The rest they can loan out, or invest, in order to make the bank much more money.

So who are they loaning it out to? Well, to whoever they want. And that includes to companies that are involved in environmental destruction, land clearing, and literally burning other people off their land.

I'd love to hear your thoughts on this one below.

0:00 - What do banks really do with your money?
1:09 - How banks loan your money
2:01 - Australian banks are funding land destruction
3:59 - JP Morgan and Deutsche Bank's financing
5:13 - Invest with Sweater
6:25 - Increasing fossil fuel financing
7:20 - Rabobank and BOC's dirty investments
8:06 - Some final thoughts

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Sorelle and Leon.
Founders, Abundantia

This video is sponsored by Sweater.

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