The Kobeissi Letter
@KobeissiLetter · May 8, 2023
JP Morgan currently has $2.4 trillion in deposits in the US.
For the entire year of 2022, JP Morgan paid ~$10 billion in interest on these deposits, or 0.4%.
Meanwhile, Apple's new savings account will pay 4.2% in interest to depositors.
If JP Morgan were to raise their
Elon Musk
@elonmusk
The difference in interest paid is a massive forcing function
09:56 PM · May 8, 2023 · 568.6K views
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