https://www.federalreserve.gov/monetarypolicy/reservereq.htm Hope you guys have cash on hand. Holy shit.
Banks can lend up their asset limit. No cash (margin) is required on hand for loans. Which means the money in your bank account isn't yours when you grab it. Remember the great depression bank runs? Those had a 10% depository reserve requirement IIRC and they still got crushed.
Time to take it out put some under your bed and bury some in your back yard sealed in plastic bags. On a scale of 1 to 10 how ugly could this get ??
If you go QE unlimited might aswell do no reserve required. Who are you going to lend money in this enviroment? Tomorrow is going to be an interesting day, one for the ages.
Why tomorrow? Apparently this is old news, and was done right around March lows. Can it explain a rally?