Handmaid of Leviathan, Whore of Wall Street, Part 1

Here is a head-scratcher. During the long 46-year stretch from February 1974 to February 2024 “required reserves” in the US banking system climbed steadily from $35 billion to $208 billion. And then, bang! By orders of the Federal Reserve that number cliff-dived to zero in one fell swoop. Required Bank Reserves, 1974 to 2020 It’s […]