i've not been a big fan of fractional reserve banking. leads to a bunch of bullshit that we happen to be in now. anywho, those shitfuckers did this:

https://www.federalreserve.gov/newsevent...00315b.htm

In light of the shift to an ample reserves regime, the Board has reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period.

so, no more reserve ratio requirement. just loan all the magic money you want that you never had, charge people interest to pay it back, and get paid the rest in more magic money after the default.

i'm guessin they want the small banks to really overextend, so they get 'bailed out', aka the fed buys them, and this repeats on up the chain until the fed basically owns everything. someone in a ZH comment did the math on this the other day, i think it was like $180T for the final balance sheet.

i don't even know what more to say about this. it's huge. it's TEOTWAKI tier stuff. it's... normal for 2020. apparently. burn it all down.

Maybe start buying and stacking silver coins and using your fiat money while it still has value to buy russian land...oh and get a decent woman

Turns out, 1913 was a terrible year!

I hope my credit union doesn't dabble in any fuckwittery.

If only this was true.
They will just make up widgets in code and call it money.
Once they removed gold backing from currency it became a statutory fiction.
After this is over they will just go back to sucking winnie the poohs dick.
I so want a war with them commies and I will go and fight and die if needed.

https://cdn.mises.org/styles/social_medi...k=74V_W9Gd

Yeah Mannarino was making a slew of videos about this months back, just totally blown the fuck away by what the hell is going on here...

https://www.sectual.com/thread-16570.html

Oh it's bad.

Indeed...

It's stunning.

The ONLY thing that is worth doing at a time like this is to completely make your peace with everything.

(05-26-2020, 06:38 PM)ELFUNGBANKER Wrote: They will just make up widgets in code and call it money.
Once they removed gold backing from currency it became a statutory fiction.

Honestly...

This fuckin' guy is right.

Whole damn thing is a joke...

Sooner than later we're gonna be using sea shells and pearls for money again...

Just the way of things.

But hopefully we'll get to see some cool futuristic kinda shit before it all ultimately comes crashing down.