this post was submitted on 23 Dec 2023

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Rent is Robbery (lemmy.ml)

submitted 11 months ago by Grayox@lemmy.ml to c/memes@lemmy.ml

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[–] SwingingKoala@discuss.tchncs.de -1 points 11 months ago (1 children)

The banks don’t get to just magically conjure up as much money as that want. It is backed by actual money/assets

Haha, dream on.

Reserve requirements cut to zero: https://www.forbes.com/sites/bobhaber/2020/03/16/the-fed-fires-the-big-one/#76b638ad6aa8
https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm

[–] bassomitron@lemmy.world 2 points 11 months ago

Wow, I thought they'd raised it back up after COVID "ended." How ridiculous, you'd think that would be one of the first tools they'd use to address inflation outside of just raising interest rates.