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136

They can also refuse withdrawals.

https://archive.ph/ffhOz

Edit: nevermind the reserve requirement is 0%

They can also refuse withdrawals. https://archive.ph/ffhOz Edit: nevermind the reserve requirement is 0%

(post is archived)

[–] [deleted] • 4 pts

Fiat currency is funny that way.

Banks can just poof more money into existence.

You, however, cannot.

[–] • 4 pts

Don't forget just how leveraged that $500K initially was. Ponzi would be proud.

[–] [deleted] • 1 pt

And you get an interest rate on that leverage because fuck the goy

[–] • 1 pt

I can by using cash advances on my cards. The offers at 0% apr are essentially a small glimpse of the federal reserve's power.

[–] [deleted] • 3 pts

Yeah but difference is, banks loan that money at compound interest rates, 0% apr has no return for you.

[–] • 1 pt

>You, however, cannot.

Oh yes I can, I haz the manual https://en.wikipedia.org/wiki/Jerome_Powell

>degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979,[2] he moved to investment banking in 1984, and worked for several financial institutions, including as a partner of The Carlyle Group.[2] In 1992, Powell briefly served as under secretary of the Treasury for domestic finance under President George H. W. Bush. Powell left Carlyle Group in 2005 and founded Severn Capital Partners, a private investment firm. He was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012, before returning to public service.[2] He became a member of the Federal Reserve Board of Governors after being nominated to the post by President Barack Obama in 2012, and he was subsequently elevated to chairmain by President Donald Trump, succeeding Janet Yellen in the position. Powell was renominated as chair by President Joe Biden on November 22, 2021.[3][4][5][6] Powell built his reputation in Washington during the Obama administration as a consensus-builder and problem-solver.[2]

That's it

Lawyer->banking->politics->chief of poof money

[–] • 1 pt

Can regular people open banks?

[–] • 1 pt

No.

[–] • 1 pt (edited )

50k.

Clinton dropped the fraction in fractional reserve to 1/100 from 1/10 in the 90s.

This document linked even states 3%...

An institution's net transaction accounts, up to a specified amount, are subject to a reserve requirement ratio of 3 percent.

Notice that certain liabilities have a reserve ratio of zero, at this stage, like eurocurrencies.

If loaning out 16 million or less, there is no reserve requirement.

[–] • 1 pt

i think this is actually old news. from the pandemic I believe their "required reserve" was lowered from 10% (like your example) to 0% in 2020. you know cuz covid and reasons.

receipts: https://www.federalreserve.gov/monetarypolicy/reservereq.htm

[–] • 2 pts

It's 0% up to $16.9 million. Then it's up to 10% after $127.5 million. There's an archive link in the OP.

[–] • 2 pts

gotcha. thanks.

[–] • 1 pt

Nevermind the reserve ratio is 0% now

[–] • 0 pt

OP links archive web page from 2019.

Myplums points out OP is a faggot for posting nonsense from 2019 which was changed in 2020.

Bigger faggot (you, again) tells myplums he's wrong because 2019 archive link is more correct than present day.

The current reserve ratio is 0%, faggot. He even gave you the fucking link.

[–] • 0 pt

Shallowgoat OP links archive web page from 2019.

Myplums points out OP is a faggot for posting nonsense from 2019 which was changed in 2020.

Bigger faggot (you, again) tells myplums he's wrong because 2019 archive link is more correct than present day.

The current reserve ratio is 0%, faggot. He even gave you the fucking link

The link in the OP was archived 14 Sep 2022 22:59:01

If you look at the table in the link it even has the 0% and the 3% reserve ratios and their effective dates.