The banking system can move billions in seconds. Velocity is only an issue for criminals and people trying to avoid taxes.
The people who are the thinkers in this space like to quack like libertarians and look back fondly at the gold standard. For better or for worse, they are driving US policy now. It’s one of the reasons why our government is setting the financial and economic system on fire and destabilizing the dollar.
If you want to provide fan service to the idiots keeping you in office, and get really really rich in this process, what do you do? Pivot to crypto as there isn’t enough gold to capitalize the world, and outsource the new version of the fed to private interests.
This is a way to stay relevant from the banks point of view in what whatever this new world turns into. They add value because there’s inherent trust in day JPMC, UBS or Barclays versus some random crypto bro company.
The people who are the thinkers in this space like to quack like libertarians and look back fondly at the gold standard. For better or for worse, they are driving US policy now. It’s one of the reasons why our government is setting the financial and economic system on fire and destabilizing the dollar.
If you want to provide fan service to the idiots keeping you in office, and get really really rich in this process, what do you do? Pivot to crypto as there isn’t enough gold to capitalize the world, and outsource the new version of the fed to private interests.
This is a way to stay relevant from the banks point of view in what whatever this new world turns into. They add value because there’s inherent trust in day JPMC, UBS or Barclays versus some random crypto bro company.