toxicbitcoiner on Nostr: It’s an older meme sir, but it checks out. (Made in Aug 2022) Fictional* reserve ...

It’s an older meme sir, but it checks out. (Made in Aug 2022)

Fictional* reserve banking

quoting
note15qt…zx69

And its waaaay worse than the absurdity he just described.

The old-school 10:1 fractional reserve banking went away In 2020. TheFederal Reserve dropped the required reserve ratio to 0%
Banks are no longer legally required to hold any fraction of deposits.
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