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Unannounced to most people at least it didn't get a lot of press attention the federal reserve reduced the fractional banking requirement to zero in march of 2020. this means that a bank no longer has to have any percentage of deposit amounts in their bank or claimed in their bank in order to loan money out. they used to have to say have 1% or some percent of the total outstanding loans they had as actual deposits in their bank but now they can loan as much money as they want without any requirement of any actual deposits

Unannounced to most people at least it didn't get a lot of press attention the federal reserve reduced the fractional banking requirement to zero in march of 2020. this means that a bank no longer has to have any percentage of deposit amounts in their bank or claimed in their bank in order to loan money out. they used to have to say have 1% or some percent of the total outstanding loans they had as actual deposits in their bank but now they can loan as much money as they want without any requirement of any actual deposits

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[–] • 4 pts

HOLY FUCK.

This happened at the height of the insanity of people being distracted by the rebranding of the seasonal flu.

This is actually incredible. Do NOT leave your money in USD people. It will be worth less daily until it is completely worthless. Dollars are now infinitely printable with no lip service to reserve. The Federal Reserve literally is not federal and has no reserves at all anymore. Wow.

[–] • 0 pt

I've been spending all my money on prepping lately. Now I need to save a bit up to get the fuck out of Cali.