Tag: banks

300 Decades Of Money Trading300 Decades Of Money Trading

Pioneers of bank

Holy priests hated Jews, and villainous Italians were the pioneers of banking. They made a lot of money from interest on loans, and they became more and more greedy.

Tempel was the first bank
18th century BCE: In ancient Babylonia and Egypt, temples were pre-eminent places to store valuables, for no one dared to rob the sacred buildings. Babylonian priests also lent money in the time of King Hammurabi (18th century BC). The Babylonians were the first with an actual bank. 5th century BC: The ancient Greeks were merchants and needed a solid banking system. Therefore, in the 5th century BC, Athenian businessmen. Their money to the local bank, where they received a guarantee certificate with which they could collect it at another bank. This way they did not have to lug around heavy money boxes that could easily be stolen. The Greek banks also lent money to their customers and exchanged foreign currency. When it comes to choosing the best broker you can check Low Spread Forex Brokers.

Jews practiced prohibited professions
Middle-Ages: The medieval Catholic Church did not consider the profession of money lender appropriate for a Christian. In the 12th century, the Pope forbade all Christians to charge interest, preventing them from earning money from banking. However, the European monarchs had to borrow a lot of money to build and wage war, so they instructed the Jews, who were not forbidden by the Church’s prohibition, to lend money and in return offered protection. Most crafts were forbidden to Jews, and by lending money they earned a living. Because of their banking activities, they were looked at even more with the neck by the Christian population.

The modern bank originated in Italy
14th century: With creative accounting, Italian merchants circumvented the ecclesiastical prohibition on interest. In the 14th and 15th centuries, Northern Italian merchants succeeded in taking over much of the Jewish banking activities. They were not allowed to charge interest, but the Italians circumvented this prohibition by describing the interest as ‘gift’ or ‘reward for risk’ in their accounts. In Genoa, Siena, and especially Florence, the benches sprang up like mushrooms. In Florence, the De ‘Medici family made a fortune in loans. This gave her the say in the city and was even allowed to supply a number of popes. The Italians’ financial empires are seen as the forerunners of modern banking.

Nationalization in the 17th century
17th century: In 1661 Stockholms Banco was the first bank in Europe to issue banknotes instead of coins. But the company issued more notes than it had in silver and copper and went bankrupt. The state intervened and took over the bank’s estate in 1668. The institution that emerged from this still exists and is today Sweden’s national bank.

9,000 US banks go bankrupt
1929: Black Thursday, as is known on October 24, 1929. On that day, stock prices on the stock exchange on Wall Street in New York took a dive. Hundreds of thousands of Americans had invested in stocks, often with borrowed money, and that seemed like a safe investment. But the bubble burst and the financial crisis that followed killed 9,000 US banks.

Global financial crisis
Until a few years ago, the international investment bank Lehman Brothers had $ 691 billion in assets and employed 26,000 people. But the bank owed its success to high-risk loans, and 2008 went wrong. The financial giant went bankrupt, and a global economic crisis was the result. European pension funds lost billions of euros. Lehman Brothers were the largest, but by no means the only, bank to collapse during this crisis, and its effects are still felt today.

Small Loans – What Are They And Where To Get Them?Small Loans – What Are They And Where To Get Them?

There are a lot of ways to obtain a small loan. Some are reasonable whereas others are costly. Some are easy to obtain while others a more difficult. Knowing what you need, where to find them, as well as how to obtain one is particularly crucial especially when you require immediate funds for unforeseen expenses.

In Norway, långuiden.no/smalan-pa-minuttet/ is a site you could visit as it provides a list of the leading and recommended banks in Norway that offers small loans with a possible loan amount of 1,000 kroner to 50,000 kroner. But there are banks on the list that even offer up to 500,000 kroner. Submit an application for small loans form the financial institutions listed on långuiden.no/smalan-pa-minuttet/ is easy and prompt as the requirements to prequalify and be approved are few. Hence, you could immediately get hold of the funds you need to finance your immediate expenses.

Small Personal Loan – What Is It?

A small loan, to put it in simple terms, is a kind of personal loan that does not need any sort of collateral. Hence, it is also called an “unsecured loan.” While there is no definite or set amount, the loanable amount will depend on the financial institution or lender and the type of small personal loan they offer.

Although small loans don’t require any collateral and only necessitate a few requirements to avail, qualify and be granted, the interest rates are usually higher because the financial institution or lender are more at risk than the borrower. But then again, some lenders or financial institution offer small loans with very favorable terms making it easier for the borrower to repay. However, as there are only a few options, it may be difficult to find a small loan with very agreeable terms.

Small Personal Loans – Where To Get Them?

While several lenders only offer larger loans, there are numerous places to visit for a small personal loan. Let’s have a look at some:

CREDIT UNIONS AND BANKS

Several traditional banks as well as credit unions offer small personal loans, wherein some begin with an online application however require you to personally visit their physical branch prior to the funds being released. Also, several credit unions offer payday loans that might help you obtain a small loan even thigh your credit score/rating isn’t good.

ONLINE LENDERS

A lot of lenders operating online specialize in unsecured small personal loans which you could make use of for just about anything. As they are internet-based, it is frequently easy to find out if you prequalify for a small loan. It might take a few days for the process and your application be completed and the funds to be transferred to your bank account.

PEER-TO-PEER LENDERS (P2P)

P2P lenders operate online and these online lending platforms match up borrowers with potential investors who are willing provide the loan. With P2P lending platforms, the interest rates are usually low and the process is quick. However, note that not every P2P lending platforms offer small loans.

PAYDAY LOANS

For really small loans, like $500 or eve less, payday loans might be an option. However, this type of loan is a very expensive choice because of the high fees tied to it. So, make this option your last-ditch effort if you aren’t able to qualify for small loans elsewhere.

LINES OF CREDIT OR INSTALLMENT LOANS

Several online lenders and traditional financial institutions offer lines of credit loans or high-rate installment loans with high fees or interest rates that could range from 60 to 199%. Although these types of loans are cheaper compared to payday loans, this should also be your last option because of the high interest rate which could make it really difficult for you to pay off.

It’s always best to shop around and compare requirements, conditions and terms when looking for a small loan.