I would suggest buying stocks with it from companies that are invested in by the average person so they can then sell their shares and have an amazing pay day. Could this be why GameStop prices skyrocketed? If so maybe other stock will skyrocket too.
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Why would that cause less inflation than giving the money out?
Do you really think the "average" American owns stocks, or even more ridiculous the average American owns GameStop stocks?
Investing the dirty money into the stock market would be the absolute worst solution because it would mostly go back into the hands of the rich and corrupt. In my opinion