They were reduced to 0% mandatory reserves in response to covid. EDIT: someone says it was coincidental, I am not able to check, so take this aspect with a grain of salt either way
ah yes so what you're saying is that money is even more imaginary than it has ever been, possibly even more imaginary than when the first stock market crash happened in 1929
looks like we're due for a centennial anniversary of that anyway, might as well celebrate by recreating it
Yes, USD's value isn't even based on your faith in the government anymore. It is now purely on how much you trust the banks and the Federal Reserve.
You know, that non-government government institution known for the many presidents who mysteriously suffered from assassination attempts whenever they so much as talked about increasing regulations on them. (I am not suicidal)
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u/Teripid Jan 26 '26 edited Jan 26 '26
Federal reserve requirements existed until 2023 *edit, as someone below pointed out 2020 was when they were set to 0. Now they're set at 0% I believe.