So Now the Fed believes the 'minimum reserve requirements' can be eliminated? LINK

[Blackhatjack]

http://rawstory.com/2010/03/footnote-fed-believes-minimum-reserve-requirements-eliminated/

"In the footnotes of a speech U.S. Federal Reserve Bank Chairman Ben Bernanke would have given to the House Financial Services Committee on Feb. 10, lies a unique disclosure.

Hosted on the Federal Reserve's own servers, the written testimony of the bank's chairman explains in plain text what expanding the Fed's powers will do.

"The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system," footnote number nine, at the bottom of the page, explains without additional qualification"

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At that point you are just gambling with made up money .. and if you lose, the Government will have to step in and bail the Wall Streeters out or the whole house of cards caves.

This tidbit came from a footnote from a speech Bernanke was going to give to Congress.

Now even 'fractional reserve lending' is not enough for the Big Wall Street Banks, they don't want to hold ANY MONEY in reserve to back up their risky bets.

[aquart]

1. Are we allowed to tell the Fed to drop dead?

[Blackhatjack]

2. IT is just this kind of decisionmaking that gets NO MEDIA COVERAGE that will sink us...

... and anyone trying to pry back the curtain to find out what is going on is told they don't have the right to know.