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That’s exactly what they’re doing if you trust their balance sheet. They have less than a billion in cash and the rest is t-bills and Treasury RRP.
by dghlsakjg 4y ago
That’s exactly what they’re doing if you trust their balance sheet.
They have less than a billion in cash and the rest is t-bills and Treasury RRP.
- imtringued 4y agoBut they don't have access to the Fed so what they are doing is operate a pseudo bank with no deposit insurance.