I hadn't realized this but the Federal Reserve quietly changed it's reserve target to 0% during COVID.
This isn't fractional reserve banking, it's fictional reserve banking.
#EndTheFED #Bitcoin #GrowNostr #Plebchain #Zap
Discussion
Yah they did, lol. Was essentially a book keeping trick with no real reserve anyway. I mean the reserve was just fiats ... They make fiats so ...
What could go wrong?
“I will give you all the pretty purple paper. You give me all the real things!”
Where their system fails is when people realize they have been stolen from and they decide to take back the real things. They will either do it standing behind the barrel of their own gun (anarchy) or hire state actors to stand behind the gun to avoid personal accountability for their actions (socialism). A man can only defend one house at a time. A parasite won’t bother to defend what they stole, they will join the socialists and collectively steal it back from themselves.
In places where men are spineless, this ends in socialism. In places where men have a spine, this ends in anarchy. After a period of that, we will reorganize around new systems of governance, hopefully based on Bitcoin and cryptography.