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...

quoting nevent1q…eap3

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