Start our own ATS Bank

Would this be a possibility?

With most of the banks stealing our money I don't feel safe anymore putting my money in their hands.

Western banks get to loan money from the IMF world bank with a ridiculous interest rate of 0,000001% so they don't need to attract new customers with alluring interest rates. No because of this option the interest rates for customers are higher then ever before and they keep finding new reasons to charge US money for storing our money in their banks.

What I have read about is how banks in Muslim country's so-called Islamic banks do no charge interest rates as it is forbidden by the religion. Coincidentaly these banks did not have any trouble with their finances during the collapse and none of them needed a bailout.

The matter is however that the word Islam or Muslim is perceived as negative for the majority of the western population but the system works and you can use it without naming it after a specific religion.

A quick google search teaches me that it's similar to setting up a small business and has less risk then say starting a restaurant with a fail rate of 1/1000 which is a pretty good succes rate if you ask me.

The rules will differ per country but from what I can tell you need a few sugardaddies to get started.

I don't know if it's possible but it would be great if you can get a cheap 0,000001% interest loan from the world bank and use that money against them.

Any ideas or suggestions?

I think this is the sort of thing you are thinking about?

www.startabank.com...

www.startinternetbank.com...

and maybe this?
www.nytimes.com...

en.wikipedia.org...

Text

Interesting idea!

As you can see I haven't yet mastered imbedding text.

I would like to deposit my:

0.02 $

Originally posted by MarioOnTheFly
I would like to deposit my:

0.02 $

I've got a few hundred feathercoin I can use

Support that to make it count!

reply to post by winofiend


If we shake down ATS and gather all the 2 cents being thrown around here...we would have one hell of a mutual trust fund

The biggest problem I see is different countries with different rules.

In the articles I've read, it always refers to USA community based banks that need around 10 to 20 million to get started that you gather from angel investors.
I'm not familiar with the laws in my country or anywhere else besides the USA or even if you can set up a bank at the Cayman Islands and use it world wide.

I guess I have to sweettalk some Arab oil sheiks then.

How would this compare to bitcoin, or some other comparable internet currency?

S&F for the thought, now get working on creativity, logistics, legality, investorS!

Originally posted by MarioOnTheFly
I would like to deposit my:

0.02 $

In gold I assume?

I would suggest an ATS Credit Union. Membership could be governed better that way.

(My deposit!)

Well I'm guessing that with an initial google search there are websites just about helping people opening banks that there may be something to this. Maybe not an ATS Bank, but maybe some sort of bank that a member might open. Now wouldn't that be a thread!

Why would anyone risk their money for zero return?

As to muslim banks: I can't imagine the penalties for not paying your loan.

Not to be the sand in the gears of creative thinking, for it is imagination that fuels inspiration, you might want to check out the T&C in regards to member privacy issues, furthering financial schemes and of course a good long talk with the owners before using their name...not my 2 cents, just some free advice.