During covid they quietly amended the rules so it is now a 0% reserve requirement.
The dollar's you deposit are already backed by nothing and the deposits you make aren't even in the bank. You'll own nothing and be happy.
During covid they quietly amended the rules so it is now a 0% reserve requirement.
The dollar's you deposit are already backed by nothing and the deposits you make aren't even in the bank. You'll own nothing and be happy.
Damn! Missed this about the US, and just went to check, in Eu (Italy precisely, maybe different somewhere else) you need now ONLY 1%, from 2% it was before..
LOL!
It's insanity and completely irresponsible policy in the name of artificial growth via debt.
nostr:npub1zzmxvr9sw49lhzfx236aweurt8h5tmzjw7x3gfsazlgd8j64ql0sexw5wy summed it up the best:
