How do banks work?

Question

How do they become so powerful, and how do they grow?

Edit:to clarifyn i know how the process of banking works, I mean like how do you get from being a small local bank to JP morgan chase in new york. How do they possess the power to repossess property.

In: Economics

Answer 1

Hello there I can hold your money for u and keep it safe for only $10 a month and I’ll give you 10cents a month for every $1000 bucks u let me hold