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Wednesday, June 16, 2021

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irihapeti

not to disrespect Mr Yoon but I think he might be misunderstanding what the purpose of the proposed US federal digital currency is

the purpose is not to create a token which can be traded for US dollars. There is no value difference between a US material dollar and the proposed US virtual dollar

what this proposal is about is the ability of the Fed to create credit, in addition to creating money. Is the creation of credit that has gotten US banks in a tizzy about this. And into a further tizzy as the proposal provides for a federal retail bank to be the vehicle for creating credit

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