What kind of bizarro clown world did I wake up in?
The FED bank of Minneapolis wrote about "useless pieces of paper (bitcoin for short)" and that "the price of bitcoin converges to zero."
Umm...considered fiat currency?
And yet, the only solutions to this alleged bitcoin problem is to either ban it (a "legal prohibition against bitcoin") or tax it.
Somehow, bitcoin is worthless and headed to zero, but yet it's still worthy of being taxed so as to balance deficits.
I'm so confused.
Source: https://www.minneapolisfed.org/research/working-papers/unique-implementation-of-permanent-primary-deficits
Article: https://cryptobriefing.com/bitcoin-fiscal-impact-report/
#bitcoin #plebchain
No reason to be confused. It is a fear based response. They know their slave debt fiat monopoly is coming to an end. This is what happens when the power hungry try to retain their power, but they have reached the age of retirement. No one cares what the senile old fiat peddlers have to say anymore. Time to take them out to the retirement home by no longer playing with their monopoly money.
Imagine poor Erzo, editorialising comments like “useless pieces of paper (bitcoin for short)” when you spent your life trying to prove you are smart
Weird times for sure. Really lame arguments as attacks 🤷♂️
It’s actually an interesting read on #bitcoin, and besides the tax on bitcoin recommendation it also mentioned the government buying up all bitcoin (SS 4.4.2) in order to reach the governments equilibrium and run permanent deficits
Funny how they are starting to see the writing on the wall; I mentioned this in another post, here:
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