Archived In case you didn't know how banks; local, regional or federal, operate (imgoat.com)
submitted ago by ARsandOutdoors
Posted by: ARsandOutdoors
Posting time: 1.8 years ago on
Last edit time: never edited.
Archived on: 5/15/2019 10:00:00 AM
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79 upvotes, 2 downvotes (98% upvoted it)
Archived In case you didn't know how banks; local, regional or federal, operate (imgoat.com)
submitted ago by ARsandOutdoors
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[–] Gumbatron 0 points 4 points 4 points (+4|-0) ago
Indeed, although lots of them have now dropped the "reserve" requirement entirely...
https://en.wikipedia.org/wiki/Reserve_requirement
[–] ARsandOutdoors [S] 0 points 2 points 2 points (+2|-0) ago (edited ago)
I'm big into finance and history of finance. I'm concerned that the Central banks across the world are stockpiling gold, instead of purchasing bonds from other central banks, of which have essentially an "unlimited" balance sheet. The world is awash in cash, because you have to convert to dollars to purchase oil we've been able to offshore the inflation. With interest rates rising, it's costly to hold US cash, harder to service your debts. The globe seems to be preparing for the end of the dollar-reserve and swift system. At this point America's debt can be weapon(ized?) against them.
[–] Gumbatron 1 point 2 points 3 points (+3|-1) ago
Yes, should the dollar be relegated from it's reserve status, it will be practically worthless overnight. This is one of the reasons that the US will mercilessly destroy any country that tries to avoid using $US, particularly for oil (See Iraq and Libya). If the $US was no longer reserve currency, I wonder how long the soldiers would want to keep fighting when being paid in worthless scrip.
I'm sort of surprised that China hasn't used that weapon yet, although it would likely be a suicide weapon of sorts.
'tis a pity that I lost my gold in a tragic boating accident. Be sure to keep yours safe :-)
[–] Rawrination ago
1913 and the things that followed have been the largest gold theft in the history of the world (that we know of anyway).
[–] rejectedfromreddit ago
I've only ever heard of SWIFT in terms of wire transfers. What are you referring to in your comment?