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In addition to not being a branch of government, it is also not clear that the Fed is at all "sensible". I don't doubt that the Fed is full of smart people, but
by lmg643 13y ago
In addition to not being a branch of government, it is also not clear that the Fed is at all "sensible". I don't doubt that the Fed is full of smart people, but they seem to use their smarts to find ways to put a band-aid on the mess the last Fed chair made by keeping interest rates too low, too long.
Digital currency is a huge threat to the Fed if successful, so it will need to be dealt with in some capacity. Right now, I suspect they are hoping it is a fad or a toy that will go away. Gox certainly doesn't help change that impression.
- skylan_q 13y agoDigital currency is a huge threat to the Fed if successful, so it will need to be dealt with in some capacity. Right now, I suspect they are hoping it is a fad or a toy that will go away. Gox certainly doesn't help change that impression. They believe this to be the case. If they didn't, they wouldn't believe in the need for central banking. :)
- jmcqk6 13y agoDigital currency is a huge threat to the Fed if successful, so it will need to be dealt with in some capacity. Right now, I suspect they are hoping it is a fad or a toy that will go away. The primary function of the Fed is to be a stabilizing force in the market. There is absolutely no evidence that bitcoin will ever be a threat against this. Even the logical arguments in favor of that position have a hard time holding water.