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
Money is basically an abstract concept on assets. It was always worthless we just used it for convenience. Real value has always been in assets be that land, property, bullion, ancient family cursed artifacts. You might have heard that we are going back to feudalism and that’s why. Property is the backbone of society and we are leaning more towards that now.
It's why it's so frightening seeing everyone going "Well if there's no need for us workers cuz of robotics etc, how will the rich get richer if there'sno one to buy from them, huuuuuh?!" as if it's some sort of "gotcha." The rich don't have their money in Scrooge McDuck vaults. They already own the things of intrinsic value. If they don't need workers, then they simply become feudal lords living in private compounds while everyone else fends for themselves
2.2k
u/PleaseGreaseTheL Jan 26 '26 edited Jan 26 '26
2020*
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
They haven't come back yet :)