No. This is a bank
this post was submitted on 18 May 2024
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All that risk for the equivalent of a recent model used car.
Fractional reserve.. technically zero is a fraction.
Fractional reserve is a reference to banks needing to keep a fraction of their customers' deposits but are allowed to invest/lend out the rest. Some people think this means keep a fraction of customers cash on hand because liquid assets are often referred to as cash in accounting even if it isn't actually paper money.
Banks are cash free now??? What a world. At what point to we get to where banks don’t really do anything at all except legally rob you and bill you for stupid shit?
jfc
And you're excited about it.
What the fuck are you on about? I just bought a 2002 VW Jetta for $9k, practically new, 150k miles and only one broken motor mount. Cars are... Fuck my life.
Not gonna lie, you had me in the first half.
I wouldn't say that a car from 2002 is a recent model.
It was out after I left high school... Fuck!
Recent models are like 30k