The Fed currently pays banks 0.15% interest on reserves.
With QE at $8.9 trillion dollars, banks annually collect $13,350,000,000 interest annually on free money (QE) the Fed crammed down their throats.
Mish forgets the other side. Those remits are a tax collection, deposits do not earn fair market value in the balance sheet. On net we have a 90 billion/yr tax on collateral, a bank tax.
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