Gov. Waller is one of the more astute members of the Fed. He isnt a lunatic like some who are making waves especially around Washington.
I think he nailed it on Bitcoin, at least the part about it being like gold. It is a store of value and really not used as a medium of exchange. The Maxis seem to believe it will be a threat to the USD but fixed currencies have never done that. The fact there is no elasticity is a problem in a currency.
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The way things are going, the only threat to USD is USD.
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Which isnt a problem because, ultimately, currency is valued against other currency. So the way the rest of the Big Four are going, it is likely the USD is the last one standing.
Then we flip the switch on the Metaverse and the USD is no more. LOL
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Well it does seem like fiat is king right now in our daily lives so until this changes, I don't see the view of USD going away anytime soon.
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The USD is not going anywhere for a long time. In fact, I will be dead before it is gone. So will many on this site.
People expect fiat to disappear are going to be sadly mistaken.
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