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FedCoin is known as US Dollar. Why does it need to be called coin or be mined?
by kshacker 4y ago
FedCoin is known as US Dollar. Why does it need to be called coin or be mined?
- Canada 4y agoTo me, "FedCoin" implies or suggests an electronic bearer instrument that is issued by the Federal Reserve. It wouldn't be mined, it would be minted and burned (aka created and destroyed). The USD is not currently offered in this format and I don't believe the Fed has any intention of doing so.
- basch 4y agoUSD is offered in this format. Taxation is the burn. They print/mint money through lending and remove/burn it from circulation by taxation. Which is why MM theory is all about all government spending coming from the creation side, and that taxation never leads to spending.
- junofan 4y agoThat’s just not factual. Even if it were, the Fed’s mandate is to manage the money supply independently from the political process.
- johngladtj 4y agoIf you think the fed is independent I have a bridge to sell you
- Canada 4y agoWhere is USD available in this format? If it is, that's news to me.