No, Dogecoin Does Not Compete with Bitcoin
Medium of exchange and store of value are very different products.
Medium of exchange and store of value are very different products.
The interest control policy is ultimately an admission of “fiscal dominance.” That is, it is increasingly difficult to deny that the state's budget situation is what dictates monetary policy. Now, monetary policy must first serve the interests of the regime itself.
What matters for real economics is real savings, not increases in consumer spending driven by money printing. The best way to get an increase in savings is to decrease both money pumping and government spending.
Medium of exchange and store of value are very different products.
Even without deficits or new taxes, Biden's infrastructure spending plan will only create more malinvestment and inflict further damage on an already weakened economy.
It could take several years. But “Fedcoin'' is on its way and soon will be our reality. The question is: Will Fedcoin make our lives easier or just the Fed’s?
As FDR’s gold crackdown showed, tyrants know the importance of controlling money in a time of crisis. It appears cryptocurrency could be central banks' next target.
If monetary stimulus could strengthen real economic growth, then world poverty would have been eliminated a long time ago.
Opponents of bitcoin now claim that bitcoin mining causes global warming and is an environmental threat. But the boom-bust cycles caused by central banks and their fiat money are far worse than any carbon footprint bitcoin can produce.
"Because there's so much debt today relative to 10, 15 years ago, a small debt, a small move in yields, 50 basis points in yields today is equivalent to 2% 15 years ago."