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Saturday, Oct 24, 2020

US behind rest of world on digital currencies & 'needs to kind-of hustle to catch up', expert tells Boom Bust

The US Federal Reserve along with other world central banks have been hinting about issuing their own digital currencies, which could become “one of the worst financial ideas of recent times.”
RT’s Boom Bust is joined by Eric Wade of Crypto Capital, who says the US is ‘clearly behind and clearly trying to catch up’ with the rest of the world, while also sending a lot of mixed signals.

He notes that it’s necessary to “separate America from Americans, because the government is certainly slow to adopt digital currencies, while Americans are already adopting different digital currencies that might not be official central bank currencies but they are pegged to the US dollar, and American investors really seem to like them.”

Wade adds that “America needs to kind-of hustle to catch up to Americans and the rest of the world, while the US government might very well be left behind on this.”

Quote of the Day

“If no one had an army, armies would not be needed. But the same can be said of most lobbyists, PR specialists, telemarketers, and corporate lawyers. Also, like literal goons, they have a largely negative impact on society. I think almost anyone would concur that, were all telemarketers to disappear, the world would be a better place.”
― David Graeber, Bullshit Jobs: A Theory

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