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Replying to Avatar zerohedge

Dear @federalreserve instead of forcing depositors to put their money at @jpmorgan where they collect 0.01% (and where JPM then redeposits at the Fed for 4.65%) why not just create a temporary SPV where all US depositors can park deposits at the Fed directly and collect IOER

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Steven Yang 2y ago

They must think we’re too stupid to take care of our own money.

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