Fed’s Brainard Offers Warning on Risks Created by Private Digital Money (FUDster ALERT)

Fed’s Brainard Offers Warning on Risks Created by Private Digital Money (FUDster ALERT)

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  1. Unpopular opinion: She’s not wrong, yet.

    The only reason so many people are buying crypto right now is speculation, not spending. Trying to force crypto to be currency when it has none of the characteristics a real currency needs is unhealthy for crypto and the economy in general.

    For cryptocurrencies to be real currencies, prices for goods that can be bought with them can’t fluctuate on a day to day basis. A pizza shouldn’t cost 30 ADA one day and then 15 ADA a week later.

  2. tldr; Federal Reserve Governor Lael Brainard warned that even private money that explicitly seeks stability relative to government money carries notable risks for the financial system. “Central bank money is important for payment systems because it represents a safe settlement asset, allowing users to exchange central bank liabilities without concern about liquidity and credit risk,” Brainard said.{}

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. So basically it will be our fault if there’s inflation.. haha ok that’s it for sure

    And then what… don’t use private digital money we have a fed coin for you!

What do you think?

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