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Replying to Avatar farooq

If you deposit $10,000 into a bank šŸ¦

Here’s what happens…

The bank set asides a 10% and loans out the rest of your money.

How it works, say another person comes in and asks for a car loan of $9,000.

At this moment the banks loans out $9,000 from your original deposit, it isn’t there anymore.

The borrower then pays the person selling the car and they deposit the money into another bank which is the part of the same central banking system.

This $9,000 is treated as a new deposit.

The process continues…

The money gets redeposited and re-loaned until the initial deposit of $10,000 becomes $100,000.

The banking system just created $90,000 by loaning out your money.

Banking system is a fraud. Learn #Bitcoin

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freeborn | ἐλεύθερος | 8r0gwg 2y ago

Since about March 2020 the reserve requirement is zero.

Zero.

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AJ Nobody āš”šŸ“ 2y ago

Came to drop that. šŸ¤

We USED to be fractional reserve.

Glad others continue to spread the word too. Original date had little fanfare.

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