I believe commercial banks must borrow cash from Fed to close a loan and disburse funds with previously created fiat money, including claims on collateral which has fiat money available if sold as part of fractional banking leverage. They buy and deposit Treasuries with the a Fed bank to get secured and lower cash borrowing rates then anywhere else
hanging in the basement sauna ... ⚡
commercial banks have to get the fresh cash to lend from central banks but with only fractional reserves overall. Even the FHLBs must get cash from a Fed bank.
fiat creation
Operation Thunderball #007
I need a new receiving wallet it seems. been trying to support Bitcoin Country 🌋🇭🇳
fits calmer now? a warm fire can help. 🌨️🔥
it's making me hungry now lol
Today is Snort’s second birthday (I think). For those not familiar, it’s one of the OG nostr clients built by nostr:npub1v0lxxxxutpvrelsksy8cdhgfux9l6a42hsj2qzquu2zk7vc9qnkszrqj49 that has a ton of functionality.
Check it out - snort.social
happy birthday! 💞⚡
Iris and Snort were my first nostr clients
#Bitcoin is always on. 🧡⚡
my favorite gifs or memes are:
- original new (not seen yet)
- classic throw back