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snapo /
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2023-03-12 12:42:57
in reply to nevent1q…es2a

snapo on Nostr: Oh another thing #[5] Many still dont know it yet... but there are 0 reserve ...

Oh another thing Susiebdds (npub1jt0…6q3n)

Many still dont know it yet... but there are 0 reserve requirements for banks anymore...
Friendly reminder that contrary to popular belief the United States does NOT have a fractional reserve banking system. Beginning in March of 2020 the United States has a zero reserve banking system:

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

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