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chk071
KVRAF
 
16453 posts since 10 Apr, 2010, from Germany

Postby chk071; Mon Jul 16, 2018 5:37 am Re: Best complete bundle for orchestral composing

fmr wrote:
jsp1979 wrote: Maybe where you live, but I can guarantee that the bank accounts and CC's that I use don't get a dime in fees, interest, etc from me. Really. If a bank charges me a fee for an account, I take my money elsewhere. If it charges for online banking, I take my money elsewhere. Like jancivil, my CC card is free and they pay me money in rewards.

Just out of curiosity, where do you live? I want a bank and a CC like that.

If i had to guess, then i would say, in Wonderland.
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 5:39 am Re: Best complete bundle for orchestral composing

I live in The USA, NJ.

Here is all my CC and banking info as far as charges.

CC - No fee for using. If we pay the balance off in 30 days, no interest charged. We always pay in 30 days.

Checking Account - Fees for getting new checks printed. That's it.

Business Savings - Charge if no activity for 1 year. So all I need is one deposit a year to avoid any fees.

Our bank essentially makes its money from being able to use the money we put into it for investing. That's how most banks in our area work. There is no need to settle for a bank that charges fees just for using their service. We never have and we never will.

So come to NJ. It's not too bad once you get past the garbage dump smell.
chk071
KVRAF
 
16453 posts since 10 Apr, 2010, from Germany

Postby chk071; Mon Jul 16, 2018 5:43 am Re: Best complete bundle for orchestral composing

It could well be a bit better in the US, as banks are the incarnated evil here, thus get restrictions more and more. You don't get sh** for interests anymore either. Neither for your money, nor for your assets. It's all evil capitalism anyway. At least that's the attitude here.
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 5:59 am Re: Best complete bundle for orchestral composing

chk071 wrote:It could well be a bit better in the US, as banks are the incarnated evil here, thus get restrictions more and more. You don't get sh** for interests anymore either. Neither for your money, nor for your assets. It's all evil capitalism anyway. At least that's the attitude here.


Well yes, the interest rates here are worthless. You might as well keep your money in a mattress. To get a decent return you have to invest in an IRA which is a little riskier. We have a very good IRA that has a floor return. IOW, no matter how bad things get, we get a guarantee ROI. Since depositing our funds about 7 months ago, we've earned about $33,000. But of late, the return has been stagnating and has been holding steady. In fact, it's been holding stead for a few months now. So we're not expecting anything great for the rest of this year. But between January and July 2018, $109,000 has turned into $142,000 as of 7/13/2018. Now, I don't know what the guarantee amount is should the investments tank, which is always possible. But it will still be substantially greater than the $109,000 we started with and a hell of a lot more than the 1 then of 1 percent interest we'd get if we put that money in the bank.
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Michael L
KVRAF
 
2300 posts since 25 Jan, 2014, from the End of the World as we Knowit

Postby Michael L; Mon Jul 16, 2018 6:04 am Re: Best complete bundle for orchestral composing

What IRA is that?
chk071
KVRAF
 
16453 posts since 10 Apr, 2010, from Germany

Postby chk071; Mon Jul 16, 2018 6:08 am Re: Best complete bundle for orchestral composing

The Irish Republican Army.

But, joke aside, i have no idea either what it is. Unless you know what IRA means, and just asked what kind of IRA he means.
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fmr
KVRAF
 
7327 posts since 16 Mar, 2003, from Porto - Portugal

Postby fmr; Mon Jul 16, 2018 6:18 am Re: Best complete bundle for orchestral composing

wagtunes wrote:... between January and July 2018, $109,000 has turned into $142,000 as of 7/13/2018. Now, I don't know what the guarantee amount is should the investments tank, which is always possible. But it will still be substantially greater than the $109,000 we started with and a hell of a lot more than the 1 then of 1 percent interest we'd get if we put that money in the bank.

That's nothing less than amazing. Would I have something getting me half of that, I would jump in. Are you sure it's not a risky investment?

Over here, I'm lucky if I find something to invest on that pays me 1% PER YEAR... It's worthless trying to find anything to invest, except your own business.

Regarding banks, yes, as of lately, banks started to charge for anything but toilet paper. Some CC cards don't pay annual fees, and no interests if we pay the due amount by the end of the monthly period. There is also some credit cards (usually not issued by banks but by some third party companies) that promise some sort of return on the amount expended, but I always found those things somehow suspicious, and always preferred to use my bank CC.

But EU is known for high tax rates and all sorts of taxes and fees charged on basically anything.
Fernando (FMR)
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 6:25 am Re: Best complete bundle for orchestral composing

chk071 wrote:The Irish Republican Army.

But, joke aside, i have no idea either what it is. Unless you know what IRA means, and just asked what kind of IRA he means.


IRA stands for Individual Retirement Account. It pays higher interest than a standard saving account because there is more risk involved.
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 6:30 am Re: Best complete bundle for orchestral composing

fmr wrote:
wagtunes wrote:... between January and July 2018, $109,000 has turned into $142,000 as of 7/13/2018. Now, I don't know what the guarantee amount is should the investments tank, which is always possible. But it will still be substantially greater than the $109,000 we started with and a hell of a lot more than the 1 then of 1 percent interest we'd get if we put that money in the bank.

That's nothing less than amazing. Would I have something getting me half of that, I would jump in. Are you sure it's not a risky investment?

Over here, I'm lucky if I find something to invest on that pays me 1% PER YEAR... It's worthless trying to find anything to invest, except your own business.

Regarding banks, yes, as of lately, banks started to charge for anything but toilet paper. Some CC cards don't pay annual fees, and no interests if we pay the due amount by the end of the monthly period. There is also some credit cards (usually not issued by banks but by some third party companies) that promise some sort of return on the amount expended, but I always found those things somehow suspicious, and always preferred to use my bank CC.

But EU is known for high tax rates and all sorts of taxes and fees charged on basically anything.


Yes, it's risky, but it's not like we could lose everything. There is a guarantee. And the guarantee increases with each level that your money attains.

The reason this institution can pay this to us is because they're making twice that on our money. They have the kind of capital that allows them to invest in the highest paying bonds short of high risk stocks and still make a good profit themselves.

And my portfolio is incredibly diverse. You should see all the companies in it, which makes it less likely to tank. Spread out like this, it's unlikely that every company will do poorly. Now I've looked at the numbers. Some companies consistently do well while some consistently do poorly. Some are a mixed bag. I would hope that AXA keeps an eye on this and pulls money out of the poor companies and puts it into companies with a better track record.

Anyway, so far so good. But I keep an eye on it regularly and at the first sign of trouble, I'm on the phone with my agent.
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Hink
Rad Grandad
 
27052 posts since 5 Sep, 2003, from Downeast Maine

Postby Hink; Mon Jul 16, 2018 6:33 am Re: Best complete bundle for orchestral composing

fmr wrote:
jsp1979 wrote: Maybe where you live, but I can guarantee that the bank accounts and CC's that I use don't get a dime in fees, interest, etc from me. Really. If a bank charges me a fee for an account, I take my money elsewhere. If it charges for online banking, I take my money elsewhere. Like jancivil, my CC card is free and they pay me money in rewards.

Just out of curiosity, where do you live? I want a bank and a CC like that.


the only fees I pay on my checking account are fees caused by my error like insufficient funds. I changed banks when I moved to Maine in 16, my credit union before that was the same and I switched to the credit union from a very large bank (not boa but just as bad) and it was the same there. While it is true that 2 of these banks I mentioned have fees for their accounts there is two ways to avoid the fees. 1, maintain a minimum balance which is set by the bank also not something I do. 2, have automatic deposit, two of those banks were this way but the credit union was not, there just were no fees.

Now not all banks are that way, when I moved up here the first bank I was looking at (local, not national) had fees.
got any good fish stories? Let minnow
starflakeprj
KVRian
 
767 posts since 28 Feb, 2015

Postby starflakeprj; Mon Jul 16, 2018 6:34 am Re: Best complete bundle for orchestral composing

Maybe a rename of the thread would be appropriate. I came here to read about orchestral bundles, not banks, interests, investments, credit cards or PayPal!
Intel Core i7-4930K @ 4.1GHz | 64GB DDR3 | 3 x Nvidia GTX 780 | Windows 10 Pro 64-bit | Arturia AudioFuse | M-Audio Code61
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 6:45 am Re: Best complete bundle for orchestral composing

starflakeprj wrote:Maybe a rename of the thread would be appropriate. I came here to read about orchestral bundles, not banks, interests, investments, credit cards or PayPal!


Yeah, come on guys. Can we get back on topic? I know I started this but let's just drop it already.
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Michael L
KVRAF
 
2300 posts since 25 Jan, 2014, from the End of the World as we Knowit

Postby Michael L; Mon Jul 16, 2018 7:01 am Re: Best complete bundle for orchestral composing

I know what an IRA is. I was wondering which IRA. That is a great return. And its on-topic: an IRA is part of the "complete bundle!"
Last edited by Michael L on Mon Jul 16, 2018 7:03 am, edited 1 time in total.
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wagtunes
KVRAF
 
12697 posts since 8 Oct, 2014

Postby wagtunes; Mon Jul 16, 2018 7:02 am Re: Best complete bundle for orchestral composing

I did a quick demo of some of this VSL stuff just to get a handle on the keyswitching and MIDI control. This is no great piece of music but hopefully with all the movement and changes, it sounds relatively close to a "real" performance.

https://soundcloud.com/steven-wagenheim/vsl-demo-1

All comments are welcome including "OMG that's awful."
ENV1
KVRAF
 
2282 posts since 31 Aug, 2011

Postby ENV1; Mon Jul 16, 2018 7:14 am Re: Best complete bundle for orchestral composing

jancivil wrote:Even though I don't mean much to my bank with 5 dollars in savings, they still make money off of being a bank, you know, investing other people's money.

Exactly.

Those who havent heard of Fractional-Reserve Banking yet might want to check out what this is. And when you do, dont forget to read the main article on the Money Multiplier too. (One of the greatest schemes of all times.)


As a sort of TLDR, heres a short excerpt from a Learning Markets Article which describes the whole thing in a nutshell:

How Fractional Reserve Banking Works

When you put your money into a bank, the bank is required to keep a certain percentage, a fraction, of that money on reserve at the bank, but the bank can lend the rest out. For instance, if you deposit $100,000 at the bank and the bank has a reserve requirement of 10 percent, the bank must keep $10,000 of your money on reserve and can lend out the $90,000.

In essence, the bank has taken $100,000 and has turned it into $190,000 by giving you a $100,000 credit on your deposits and then lending the additional $90,000 out to someone else.

Now, if you take this out a little further, you will see that your original $100,000 can become $ by the time it is all over. Here’s how:

– You deposit...............$100,000.....Your bank loans someone else....$90,000
– That person deposits...$90,000......Their bank loans someone else....$81,000
– That person deposits...$81,000......Their bank loans someone else....$72,900
– That person deposits...$72,900......Their bank loans someone else....$65,610
– That person deposits...$65,610......Their bank loans someone else....$59,049
– That person deposits...$59,049......Their bank loans someone else....$53,144
– That person deposits...$53,144......Their bank loans someone else....$47,829
– And so on

Ultimately, your initial $100,000 can grow into $1,000,000 with a 10 percent reserve requirement.

To find out exactly how much money the fractional reserve banking system can theoretically create with your initial deposit, you can use the Money Multiplier equation:



Total Money Created = Initial Deposit x (1 / Reserve Requirement)

For example, with the numbers we have used above, you equation would look like this:

$1,000,000 = $100,000 x (1 / 0.10)


Dont think this needs further commenting, they can literally create money out of thin air.
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