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The irony is the USD actually is designed to achieve predictable and low inflation, whereas cryptocurrencies, whose demand bears little relation to current dema
by notahacker 5y ago
The irony is the USD actually is designed to achieve predictable and low inflation, whereas cryptocurrencies, whose demand bears little relation to current demand to hold it, lurch wildly in value
- lottin 5y agoI agree but the USD isn't designed to achieve low inflation. The Fed has a public mandate to achieve low inflation, which isn't quite the same thing.
- notahacker 5y agoIt's a moot point, but I'd consider the Fed and its mandate and operating procedures and target as part of the design of the modern USD (just as other regimes like Bretton Woods were also specific policy choices intended to achieve specific ends, not something which spontaneously appeared or naturally evolved)