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Forum Post: Starting your own Private Bank

Posted 1 year ago on July 26, 2012, 3:53 p.m. EST by SteveKJR (-497)
This content is user submitted and not an official statement

I just came across this inofrmation and thought it would be worthwhile putting out there. I wasn't aware that an individual could start their own "Private Bank" for investing.

The information below provides the reader with one way to do it but from what I read there are other forms of investment that can be used.

Apparently this is a "win win" situation for both the Private Bank who needs the money and the people (investors) who invest in the Private Bank.

Here are a couple links - what do you think?

http://investorpro.com/article_real_estate_investors_opm.htm

http://www.trustetc.com/investing-articles/privatebankarticle.html

8 Comments

8 Comments


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[-] 1 points by JPB950 (2254) 1 year ago

Interesting scam. I create my own private bank, borrow from someone else's IRA and play in some market. It's only a "win-win" if I pick winning investments. But then what do I care as long as it's someone else's money I'm losing?

[-] 0 points by SteveKJR (-497) 1 year ago

Why do you call it a "scam"? Hey, if people get together and want to invest together - more power to them along with more opportunity for them to make money. Everyone has a investment in the plan.

What's wrong with that?

[-] 1 points by JPB950 (2254) 1 year ago

It looks like a system ready made for abuse. I think it's foolish to think that an individual would be any less corrupt then a corporation. While failure of a small private bank won't hurt a large number of people that doesn't matter to the person that looses his IRA in a bad investment.

[-] 0 points by SteveKJR (-497) 1 year ago

Well if you think that way then what you are saying is that the people of this country are corrupt and can't be trusted.

[-] 1 points by JPB950 (2254) 1 year ago

Not all people are corrupt, but I can't tell who is by looking at them. I also can't tell who is going to make a good investment and who isn't. The idea of a private bank is great for the person borrowing money from his friends. It's a risk for the lender, if the investment in property or stock goes down, what protects his funds? Easy money and ignorant investors and lenders is a bad mix.

[-] 1 points by Shule (1528) 1 year ago

Ever watch this TV show called "American Greed"?

[-] 0 points by SteveKJR (-497) 1 year ago

And just who are these "greedy people". They are everyday Americans - so I guess that explains it all about the people in this country - don't you think? No wonder this country is so screwed up - no one can be trusted can they?

[-] 1 points by Shule (1528) 1 year ago

Yep, we have a fundamental problem. Putting the ability to do private banking without strong controls into the hands of a citizenry of the kind we have here in the U.S.A. is a sure formula for trouble.