3 ms·
To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure. We are here in 2023 and the
by lowkey 4y ago
To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure. We are here in 2023 and the banks are all insolvent having speculated using 100% of depositor funds as collateral.
The Fed tells us everything is fine and we shouldn’t worry our pretty little heads. The Fed is the problem here. They are too close to the banks they regulate. This is yet another example of regulatory capture. Propping up a failed fractional reserve banking system now featuring no reserves.
I don’t want innocent depositors to lose their money but I do think it is high time to reconsider this experiment that is the Federal reserve.
- voldacar 4y agoThere are no temporary measures. Passports were a temporary measure
- lowkey 4y agoSo was income tax (agreeing with you)
- lumb63 4y agoThe goal was to encourage the banks to speculate using 100% of depositor funds as collateral. How could we have ever seen a problem coming?
- anon291 4y ago> To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure. Anyone who thought anything about COVID was temporary was deluded. When was the last time any temporary measure actually expired and stayed that way?