Oddbean new post about login | logout NEW Article - Unmasking Farmington: FTX, Fluent Finance and the Coming Digital Dollar A former partner of Farmington State Bank, the tiny rural bank embroiled in the FTX scandal, is now building the rails for CBDCs in the Middle East and beyond. Their recent activities may finally reveal the true motives behind Sam Bankman-Fried's and his allies' use of Farmington, with major implications for the coming Digital Dollar. https://unlimitedhangout.com/2023/12/investigative-reports/unmasking-farmington-ftx-fluent-finance-and-the-coming-digital-dollar/
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Nice article, thank you! One question, though. "Treasuries, the asset that actually backs the digital dollars created from checking deposits by private capital creators": in what sense do Treasuries back the dollar? For example, on a gold standard, a US Dollar note backed by gold meant one could literally redeem the note for gold coin.
Thank you for this information.