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- 5 REASONS THE FED NEEDS
A BITCOIN-STYLE CURRENCY
- By Jeff John Roberts - December
26, 2017 - (Video is on the page) Is it time for the Federal
Reserve to join the cryptocurrency craze? The idea sounds far-fetched,
but it’s gaining traction with some economists, especially
as people come to understand the technology that underlies bitcoin
and other digital currencies.
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- The latest to make the case for
a so-called Fed Coin is Campbell Harvey, a Duke University finance
professor, who argues that a digital currency created by the
U.S. government could rival bitcoin—or even push it aside.
To carry this out, the Federal Reserve would create a supply
of dollars on a blockchain, each with a unique identity like
the serial numbers you find on dollar bills.
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- Longtime bitcoin believers, who
favor a decentralized money supply beyond government control,
would hate everything about this idea. Nonetheless, here are
five arguments in favor of Fed Coin based on Harvey’s
article (these are his points not mine): http://fortune.com/2017/12/26/bitcoin-fed-coin/
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- BITCOIN IS BIG BUT FEDCOIN
IS BIGGER
An ATM for the digital
currency bitcoin.
- By Campbell R. Harvey - December
18, 2017 - Campbell R. Harvey is a finance professor at Duke
University’s Fuqua School of Business.
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- Over the past few weeks, investors
have been flocking to bitcoin, the digital currency whose value
has soared by about 2,000 percent in the past year alone. And
while many economists are cautioning against excitement about
bitcoin — which is caught up in what may be one of the biggest
speculative bubbles in history — it’s important to
note just how revolutionary the technology may be. Indeed, the
technology underlying bitcoin could fundamentally change the
way we think of money.
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- It is only a matter of time before
paper money is phased out. Sweden, where about 2 percent of value
of transactions are done in cash, may eliminate physical money
within five years. Most central banks are working on technologies
to power a future digital currency.
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- Bitcoin and other cryptocurrencies
are based on a complicated technology known as blockchain, which
acts like a digital ledger of all transactions completed with
the currency. It’s somewhat similar to the serial number
that you can find on every dollar bill, but it actually means
something because it makes bitcoin nearly impossible to counterfeit.
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- The exploding value of bitcoin
has many observers predicting the launch of a U.S.-backed digital
cryptocurrency, colloquially known as fedcoin. And there are
many reasons beyond fighting counterfeiting to switch to a digital
dollar.
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- When was the last time you paid
for anything with a $100 bill? Or even a $50? Many retailers
won’t even take them. Most ATMs spit out twenties no matter
how much you withdraw. And yet 79 percent of U.S. dollars in
circulation are represented by $100 bills. Include the $50 notes,
and it’s 85 percent.
- So where are all these bills?
In black markets. When police first captured infamous drug lord
Joaquín “El Chapo” Guzmán, they also
discovered a cash hoard including more than $200 million, mainly
in $100 notes.
- Cash has the distinct advantage
of being anonymous. You can put cash under your mattress or in
a vault, and no one knows about it except you.
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- A national cryptocurrency would
make it far more difficult for criminals to hoard money because
all transactions would be recorded in the government ledger.
If a transaction was deemed illegal, the parties to the transaction
could be identified. This is also true with bitcoin, whose ledger
is viewable to anyone. Despite the negative press about bitcoin
being used for illegal transactions, bitcoin is not anonymous,
and criminals who use it often do not understand that their transactions
are being recorded.
There is another reason for governments to like the idea of a
national cryptocurrency: strengthening the power of monetary
policy to help manage the economy.
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Currently, the Federal Reserve lowers interest rates during tough
economic times, but the Fed is practically limited at the zero
bound because it is difficult to impose negative interest rates
(regardless of whether that would be good policy). Suppose bonds
were issued with a negative interest rate of 2 percent, making
it expensive for investors to hold them. Who would buy them?
Why not hold cash, which has a zero percent interest rate? With
a national cryptocurrency, whose supply is controlled by the
central bank, rates can be negative.
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- Worried about deflation in a recession?
No longer. A national cryptocurrency such as fedcoin would be
able to operationalize Milton Friedman’s famous “helicopter
cash” as an alternative strategy to stimulate the economy.
A single line of code could instantly put $1,000 into every person’s
wallet.
- We are seeing an important proof
of concept in real time — the meteoric rise in the popularity
of bitcoin. Today, the technology is a niche product akin to
gold. It is controlled by no one (in contrast to a central bank
cryptocurrency) and has limited ability to process large numbers
of transactions. https://www.washingtonpost.com/opinions/bitcoin-is-big-but-fedcoin-is-bigger/
- 2017/12/18/53e2e79a-e1b8-11e7-89e8-edec16379010_story.html
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- THE FEDCOIN IS COMING
Before we talk about Fedcoins,
let's look at the old school non-digital, non-blockchain, coin.
Gold. And silver.
Since January 4, the price has dropped about $244. And the price
of silver has fallen about $4. Are these buying opportunities?
Or the end of the brief gold bull market of 2020 (i.e. Covid)?
It helps to return to the idea that gold is the unit of measure
of value. Not as a rhetorical device to sell gold, but because
it gives a clearer picture.
If one thinks in dollars, one thinks that bitcoin is rising,
stocks are rising (though not this week), oil is rising, other
currencies are rising, etc. And gold went up, but is now coming
down.
It's hard to make heads or tails of this. Why would one asset
go down when everything else is going up (it's tempting to want
to believe that this one asset is suppressed)? But what if that
point of view is not even wrong? What if gold, not the dollar,
should be used to measure things?
In this point of view, we're having another little boom. Everything
- as measured in money - is going up. That's what things do,
in booms. They go up. No reaching for a theory is needed.
And we can look for signs that the boomlet is reaching exhaustion.
Our preferred sign is the gold basis. So here is a chart going
back to the start of 2020, well before Covid-mania.
https://www.moneymetals.com/news/2021/03/09/the-fedcoin-is-coming-002239
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FEDCOIN - THE DIGITAL
CURRENCY WHICH STEALS ALL
Today we are talking about Fedcoin, and how it will affect Bitcoin
(BTC), and also how it will steal all freedoms from you. FED:
These are the people who choose how much inflation you will see
on the store shelves, and even how much your money is worth.
Some of the point of BTC is ...
https://video.search.yahoo.com/yhs/search?fr=yhs-tro-freshy&ei=UTF-8&hsimp=yhs-freshy&hspart=tro&p=
- Fedcoin&type=Y219_F163_204671_091521#id=1&vid=be7d414f8d03052fa913dc09fb384469&action=click
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- THE BLOOMBERG CHANNEL
IS CREATED ON BLOCKCHAIN
- Goldman building crypto currency
trading desk at Bloomberg Channel 12.22.2017 "The Bloomberg
Channel is created on Blockchain," said Bloomberg.
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- APPLE IS GETTING EVERYONE
PREPARED FOR IT...
https://www.youtube.com/watch?v=s4BKdmMUxy8
- [Satan pays well: Apple CEO Tim
Cook Earned $102 Million in 2017
- December 27, 2017 PST by Juli
Clover - In fiscal 2017, Apple CEO Tim Cook received a salary
of $3.06 million plus $9.33 million in bonuses and stock worth
$89.2 million for a total compensation package of approximately
$102 million, reports Bloomberg. The data was shared today by
Apple in a proxy statement filed with the United States Securities
and Exchange Commission ahead of the company's annual shareholders
meeting, which will take place on February 13, 2018.
- https://www.macrumors.com/2017/12/27/apple-ceo-tim-cook-102-million/
- THE BIBLE SAYS THIS
IS EXACTLY HOW IT WOULD LOOK BEFORE THE END (2017-2018)
- 386,940 views https://www.youtube.com/watch?v=hWe62uHpikY
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