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The government will do everything to make the financial system work for banks and nothing to make it work for people.
by tehjoker 6y ago
The government will do everything to make the financial system work for banks and nothing to make it work for people.
- triceratops 6y ago"The rapid expenditure of COVID emergency relief payments highlighted the critical importance of having a resilient instant payments infrastructure with nationwide reach, especially for households and small businesses with cash flow constraints," said Federal Reserve Board Governor Lael Brainard." It sure sounds like this particular thing is good for "the people". It'll take away some business from industries that prey on the poor, like check-cashing.
- tehjoker 6y agoThere are some minor benefits from faster payments, but I assure you that people with lots of money to move are the ones welcoming this and asking for it.
- triceratops 6y agoYou're vastly underestimating the benefits to regular people. You haven't lived in a country with instant, universal electronic payments.