The Fed Digital Currency Cannot Be Far Away

in #crypto2 months ago

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They challenge that was 2020 was wide and deep across many markets and industries. However, money supply was clearly the hero as Central Banks around the world deployed unprecedented amounts of capital across many markets to avoid a financial collapse. Fiscal stimulus followed to avert an extended contraction where economies saw double digit unemployment for months. However, the unintended consequences have yet to be seen from these movements.

While many are focused on the potential inflationary impacts, the debt bubble created by these acts of stimulus are more concerning. Both have the potential to critical debase any currency currently circulating. I am not surprised that we continue to hear about many Central Banks researching or looking at the potential of Digital Currencies to complement the current fiat system. However, it seems that it is without finding a solution to the decades old concern of what backs them other that the "full faith and credit" of the issuing government.

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Good post, and very valid concerns. Inflation and debt are HUGE issues in the current system. Putting fiat on a blockchain won't make those issues vanish!

I expect to see a LOT of "stimulus" this year, in various forms. That's only going to make things even worse.