"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Bernanke and Fed to Eliminate Reserve Requirements?
It's going to be a rough ride.
(2 votes)
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Sure, why have all those expensive 'reserves' taking up valuable computer memory. After all, the no-reserve policy got Zimbabwe where it is today...
The sad part is that legions of Keynesians will see this as a great move.
Just watch CNBC for proof.
I've been really disappointed that there aren't more people in congress like Dr. Paul, or who at least get it.
And when the defecation hits the ventilation, everyone will look surprised, and start pointing fingers.
Of course no one could have seen this coming..... ;-)
Regards