Fictional Reserve Banking – Part 2
March 23, 2023
Here’s an ASTOUNDING headline:
Fed Chairman Jerome Powell Wonders “How Did Bank Failures Happen?“
In this excellent piece Mish Shedlock lists 12 Reasons This Happened.
The 12th being, “The Fed reduced reserve requirements on deposits to ZERO. ”
Even now, after the clear facts, the Fed wonders “What Happened?”
This is a must read. Please share widely.
Michael McKay retired from the financial industry in 2014. He then went back to school and is now advises the implementation of health improvement and self-care strategies. He’s also the author of Secrets About Money That Put You At Risk. He can be reached at [email protected]
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