3 ms·
> The explanation of a digital currency, when you get past the paranoia about an increase in tracking you[1], sounds exactly like a "narrow bank". But the Fed h
by civilized 5y ago
> The explanation of a digital currency, when you get past the paranoia about an increase in tracking you[1], sounds exactly like a "narrow bank". But the Fed has always been against those, because they think customer banks will be too poorly capitalized if everyone uses a government bank directly.
This sounds uncomfortably similar to the "reason" the IRS can't do our own taxes for us and send us the bill.
- astrange 5y agoSort of, but TurboTax actually lobbies for that. A lot of large banks don't even want you as a customer in the first place, but the government makes them do it. Also, everyone here is arguing "the government shouldn't know about my finances", and I feel like "the government should do my taxes for me" conflicts with that?