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.
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.
