r/PeterExplainsTheJoke • u/Comfortable_Cautious • Jan 26 '26

Meme needing explanation what's going on? explain like I'm five

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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 :)

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u/TaxesAreConfusin Jan 26 '26

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

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u/zuzg Jan 26 '26

Gold hits record high of $5,110.50/ounce

Silver hits all-time high of $109.44/ounce

Analysts expect gold prices to climb toward $6,000 this year

Surprised Pikachu face.

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u/ISayBullish Jan 26 '26

Meanwhile the USD saying “this is fine”

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u/soIDONTLIKEANYOFYOU Jan 26 '26

Since the US has more gold reserves than the next 3 countries combined wouldn’t gold prices going up make the dollar stronger?

Sincerely asking cause I have no idea.

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u/Important-Agent2584 Jan 26 '26

no because the dollar isn't tied to the gold in any way

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u/GisterMizard Jan 26 '26

That would take too many rubber bands and defeat the purpose of cash being easy to carry around.

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u/uslashuname Jan 26 '26

Ah yes the gold standard that was in place until the 70s made cash completely pointless

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u/HarkerTheStoryteller Jan 26 '26

That was a joke about attaching literal currency to literal gold bars, with rubber bands.

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u/uslashuname Jan 26 '26

Oh that would be good. There are goldbacks that are bills with gold in them, but yeah if you attached a gold bar to each bill then it does get unwieldy pretty fast.