Did you know that your bank is not required to hold a dime of deposit? For me. That’s nuts.

Banks were only required up until March of 2020 to hold 10% reserves.

So we have about 18 to 20 trillion of deposits in US banks, and about 10% of that was supposed to be reserves.

And then in March of 2020, the Federal Reserve told banks, you know what? You don’t have to keep reserves.

It’s a little bit scary in the case that if there’ll be bank runs, which we’ve seen with Signature Bank and Silicon Valley Bank.