As of February 26th, the following rule will take effect.
Think about this.
A bank is no longer required to have ANY cash at all. Anyone can now start a bank if they know how to do the paperwork.
Our bank could give loans to whoever we want and we don't need a single dollar on hand to do it. It is now 100% digital fiat with no proof of stake or work. We can just will money into existence by loaning it to ourselves.
As the owners of the bank, we would also have to power to pursue or NOT PURSUE collection action on anyone (all of us) who won't pay back their loans.
Everyone who has the knowhow to file to create a bank now has the power the FED has wielded for a century. We can create unlimited fiat from nothing.
Buckle your seatbelts we are going down.
via Monero: the secure, private, untraceable currency https://ift.tt/33NSf72