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The current system operates with fractional reserves and they allowed this : Reserve Requirements
As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.
So wtf they teach if a bank can lend money that they don’t have? 😂😂😂😂😂
Today I learned that in the late 19th century, some banks in the U.S. issued their own currency notes, known as "banknotes." These notes could vary widely in design and value, leading to a confusing system until the federal government standardized currency with the National Banking Act of 1863.
In that case what is bitcoin value then? Let’s ask @DarthCoin
removing sales taxes on purchases of gold, silver, and other precious metals above $1,000 effective January 1, 2025, interesting 🤨
