Libre Culture

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What is libre culture?

Libre culture is all about empowering people. While the general philosophy stems greatly from the free software movement, libre culture is much broader and encompasses other aspects of culture such as music, movies, food, technology, etc.

Some beliefs include but aren't limited to:

That copyright should expire after a certain period of time.
That knowledge should be available to people, not locked away.
That no entity should have unjust control or possession of others.
That mass surveillance is about mass control, not justice.
That we can all band together to help liberate each other.

Check out this link for more.

Rules

I've looked into the ways other forums handle rules, and I've distilled their policies down into two simple ideas.

Please show common courtesy: Let's make this community one that people want to be a part of.
Please keep posts generally on topic
No NSFW content
When sharing a Libre project, please include the name of its license in the title. For example: “Project name and summary (GPL-3.0)”

Libre culture is a very very broad topic, and while it's perfectly okay for a conversation to stray, I do ask that we keep things generally on topic.

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A thought I had.. Banks earn a lot of money, yet its free to use. If them loaning out/investing our money is so profitable, why would we keep any of our money in a bank? (lemmy.ml)

submitted 2 years ago by [email protected] to c/[email protected]

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is my logic wrong here, like shouldnt any sane person then invest virtually all their money?

i suppose the main counterargument is that its safer in a bank, anyway im not too knowledgeable so i wanna hear what people have to say here

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[–] [email protected] 5 points 2 years ago* (last edited 2 years ago) (2 children)

The usual recommendation (after paying all debt) goes something along the lines of having:

An account with immediately available funds for day-to-day expenses.
An emergency fund in fiat that provides enough liquidity in the case of an emergency. This is usually at least a few months worth of salary.
Everything else should be invested.

Any amount that is not invested is depreciated by inflation, so you are guaranteed to be losing money by "saving" money in a bank account. It makes sense to pay for the fluidity and safety of an emergency fund, but it does not make sense to save long term otherwise. At the very least, one should choose a low-risk investment vehicle that can match up to inflation. There are some low-risk ETFs worth looking into for the risk-averse saver.

[–] [email protected] 3 points 2 years ago (1 children)

This makes sense yeah. Im curious, does the bank rely on people having "too much" money in their bank? like more than the emergency fund? if everybody followed this advice, would the bank be in financial trouble?

[–] [email protected] 3 points 2 years ago

I wouldn't say they rely on it, but they do take advantage of it. Banks do many things to make money.

They are only actually required to have a certain percentage of the money they "have" on hand not being invested. This amount has constantly been shrinking in the US, and was actually reduced to zero with a lot of asterisks during the beginning of the Covid pandemic.

Realistically, if there was a decrease in the amount of money people were saving rather than investing and it was negatively effecting their business they would just have the reserve requirements lowered even more.

The main function of the banks is to give out loans. All other functions are only there to assist in this main function.

[–] [email protected] 3 points 2 years ago

Good in general, but one thing - it isn't always a good financial decision to pay debt down. It depends on interest rates. If the bank/credit card/whatever is charging you less interest than you can make on investing, you should choose to invest instead.

Example 1 Credit card charging 20% and expected return on investment 5%. In this situation you should pay the debt.

Example 2 Mortgage at 3% and expected return on investment of 5%. Investing will net you 2% (5%-3%) a year more than paying off your loan.

Note that paying a loan is a guaranteed return while investing is a gamble, so you have to weigh that in personally.