I’m not either! Just wanted to point out that the “zero reserves” thing is a bit more complex than purely what US banks are required to keep as cash in the rese

I’m not either! Just wanted to point out that the “zero reserves” thing is a bit more complex than purely what US banks are required to keep as cash in the reserve requirements). Further, from the announcement that lead to this, it seems that the reserve requirement is zero because the mechanisms have changed. The reserve requirements appear to have applied specifically to reserve accounts held centrally at the federal reserve. To me this looks very much like a ‘scare’ factoid that can be latched onto and shared in order to persuade people that the banking system is way more fragile than it is, and that it’s collapse is either imminent or inevitable. OMG zero reserves! Dig a bit deeper and that’s partially true and perhaps not all that important, and represents a technical change in operations rather than the massive risk increase it gets portrayed as.