Coordinated central bank action to enhance the provision of US dollar liquidity

Re:Coordinated central bank action to enhance the provision ... by lowkey on Sunday March 19, 2023 @08:25PM (#35225449)

To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure. We are here in 2023 and the banks are all insolvent having speculated using 100% of depositor funds as collateral.

The Fed tells us everything is fine and we shouldn’t worry our pretty little heads. The Fed is the problem here. They are too close to the banks they regulate. This is yet another example of regulatory capture. Propping up a failed fractional reserve banking system now featuring no reserves.

I don’t want innocent depositors to lose their money but I do think it is high time to reconsider this experiment that is the Federal reserve.

[ Parent | on HN ]

Re:Coordinated central bank action to enhance the provision ... by voldacar on Sunday March 19, 2023 @08:29PM (#35225478)

There are no temporary measures. Passports were a temporary measure

[ Parent | on HN ]

Re:Coordinated central bank action to enhance the provision ... by lowkey on Sunday March 19, 2023 @08:35PM (#35225540)

So was income tax (agreeing with you)

[ Parent | on HN ]

Re:Coordinated central bank action to enhance the provision ... by lumb63 on Sunday March 19, 2023 @10:37PM (#35226608)

The goal was to encourage the banks to speculate using 100% of depositor funds as collateral. How could we have ever seen a problem coming?

[ Parent | on HN ]

Re:Coordinated central bank action to enhance the provision ... by anon291 on Sunday March 19, 2023 @11:00PM (#35226738)

> To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure.

Anyone who thought anything about COVID was temporary was deluded. When was the last time any temporary measure actually expired and stayed that way?

[ Parent | on HN ]