Subnostr

peter 2y ago

I got goosebumps the first time I learned about fractional reserve banking.

I couldn’t believe how corrupt the system is.

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Discussion

paulo 2y ago

Wait until you learn about the magic of deferred assets.

https://www.federalreserve.gov/newsevents/pressreleases/other20230113a.htm

peter 2y ago

I’ll give it a look tonight 🫡

paulo 2y ago

TL;DR: deferred assets are an uncollaterilazed, thrid party-less loan from the future that I can make to myself to pay bills because there “surely” will be a day when I will have money to loan to my past self.