There's a very good chance that I don't care.
The federal reserve just removed the banking sector's reserve requirements to zero. This means your lending institutions and banks are no longer required to hold a penny of deposits.Same article:
Updated on 3/24/20 at 11:45 AM: The final version of the economic stimulus package offered by Speaker Pelosi the House Democrats no longer includes the U.S. Digital Dollar proposal; however, the language as proposed by Chairwoman Waters of the House Financial Services Committee still contains this language. Links to the original and updated stimulus bills with the latest language are at the end of the story.
Be interesting to follow this.
The Federal Reserve Board of Governors in Washington DC.
Imagine what this means to our fractional reserve system where that penny represented a dollar and that dollar represented 1,000 dollars and that 1,000 dollars represented a cool million. Yeah, I'm the kook.