https://www.zerohedge.com/crypto/fed-down
The Fed Is 'Down' Tyler Durden's Photo BY TYLER DURDEN WEDNESDAY, FEB 24, 2021 - 13:21 It appears that The Fed is "down" as all FRB Servcies are currently offline including ACH and FedWire...
Translation: the official establishment-sanctioned method of transferring money in America is currently
Can someone please tell me what this means?
Uniparty whoring itself out to communists for 60 years has turned our great nation into a constant laughing embarrassment.
Still don’t understand. Sorry. :(
In this system(I'm guessing it's about the same as Canada's) So, there's a direct line to banks and the fed. The bank says "I need x cash" and the fed says "fine at x rate." Money gets transferred, banks send money to other lenders and down the chain.
If however, the banks can't get loans from the fed. Nobody else can get loans except based on the existing capital the banks hold. Since "money has to move to make money" the entire system is effectively choked up, because banks very rarely hold large amounts of capital, liquid or otherwise in reserve unless there's large market instabilities.
Thank you!
It means now is the time to get your shit in order.
still dont' comprendo, like save money? and buy ammo?
I believe it means that the person who slowly raises the temperature of the water we're boiling in just broke the knob.
Banks can't send money electronically right now.
Paycheck auto deposits (and other ACH push/pulls) can't go through until this is fixed.
Funding private investment accounts just got more difficult as well.
same, what does this mean