Leister

It's low because of the inflation aspect, mainly, number one.

Two, a loss of competition with all the banks failing and being absorbed.

Three, there's a saturation effect.

When there were less people that had their funds deposited in the banks, they had to entice more people to get in.

So because they had to entice more people to get in, it forced them to offer rates that they normally would not have been able to justify.

over time they have to hit the point saturation because there was a scheme the scheme was and some may remember this there was a time when your paycheck was a physical check handed to you and direct deposit was an option they gave it to you as an option it wasn't required you could choose i still want my physical check or i want this direct deposit and they sold you

That was more convenient because your funds are riding your bank account.

However, not everybody had a bank account because not everybody could qualify for one because the system is rigged against you.

There's a lot of sketchy business that goes around the approval for bank accounts.

Some of that lightened up when Washington mutual, which is defunct came around and started dropping some of those barriers, but they no longer exist.

FinTech banking,

Kind of took over, but the lack of branches holds it back.

Some people swear they don't need branches.

I assure you, if you don't have a branch, you're going to be suffering with a loss of internet access.

This is just what I'm saying.

Cash is king, period, point blank.

but it all circles back again to this idea of yields, savings accounts and interest on the savings accounts and interest on CDs significantly dwindled because of saturation.

When they convinced people to go all in to where companies started forcing direct deposit and basically forcing everybody to have an account, it created a saturation.

When everybody got on accounts,

Now there's no reason to offer significant rates to people because there's too many people.