Ya know? When you get pressed you seem to lose some math and reasoning skills. Take a breath, dude!
I already told you, their employees are illegals, they need cash.
Hard to argue that the contractor doesn't have 100% illegal employees. Are all his suppliers on a cash only basis? Does the lumber yard demand cash only? How about the gas station? When he gets a delivery of concrete does he pay in cash? Can't he cut a net 30 purchase order to the plumbing supplier for fixtures?
Have you ever actually run a real business??? You sound like a government drone who has spent their entire life insulated from reality by the beltway!
Fine, let's go back to your original claim. The borrowers all put their checks in another bank.
All of them? That's realistic.
I suppose I'm not allowed to accept deposits written on checks issued to other banks, either?
Think that one through. I run a bank no one puts money (in the form of checks) into, but I make loans, which I only give in cash, and don't get payments for those loans, except in checks drawn on my own bank, or in cash?
That sounds like a good business model!
How does your bank give the money to the other bank?
It can't. They assumptions you are imposing on my bank make operations impossible.
You assume that I never get checks from any other institutions.
You assume that all of my customers are on a cash only basis.
You assume that I only have one depositor.
That sounds more like I'm running a home, not a bank. Hmmmmm,
I get one paycheck? check.
I never get checks from elsewhere? check.
I have to pay for everything in cash? Nope. even I get to use a credit card and write checks.
Wow! Your fantasy bank is in even worse shape that me!
I'd like to close my account, now, and cash only please...
(Let's continue this later when you've had a chance to think, and when FR isn't quite so balky)
It’s true, with all your tap dancing, I’m laughing too hard to keep all your numbers straight.
I suppose I’m not allowed to accept deposits written on checks issued to other banks, either?
Be patient. Your bank just opened. Plenty of time to expand, if you manage to stay out of jail.
Think that one through. I run a bank no one puts money (in the form of checks) into, but I make loans, which I only give in cash, and don’t get payments for those loans, except in checks drawn on my own bank, or in cash?
Your first deposit for $10,000 was a check. Or it was cash. It doesn't matter for your case. The customer bought a 5 year CD. You made $100,000 in loans and you have $10,000 in cash in the vault. I’m still waiting for you to explain how the other bank ever gets their money from your bank when your checks are deposited.
How does your bank give the money to the other bank?
It can’t. They assumptions you are imposing on my bank make operations impossible.
Please, give me your assumptions that make your operation possible.
You assume that I never get checks from any other institutions.
Right. If you can’t explain your initial position, why make it more complicated?
You assume that all of my customers are on a cash only basis.
Cash, check, please explain a scenario that works for you.
You assume that I only have one depositor.
Right. If you can’t explain your initial position, why make it more complicated?
(Let’s continue this later when you’ve had a chance to think, and when FR isn’t quite so balky)
Take your time. I’ll wait.