Just found you from your recent interview, and read several of your articles, which got my brain going. I know I'm dropping too many questions, and appreciate any reply, or maybe one would make a good article.
The NY banks are famously some of the prime movers of NYS politics - is the Powell/Davos tussle a big reason for the strict NY crypto regulations and BitLicense?
And is the Elizabeth Warren anti-crypto crusade a part of this struggle, or is it unrelated? It looks like most politicians - on the surface, anyhow - approach crypto ideologically; to wit, as with most things, the Dems with strict regulation, and portions of the GOP more free market. But that almost seems like some of them are working against their other interests, e.g., why would the Dems want to shut down their giant slush fund? I'm sure it can't be that simple. Or maybe it's different party factions, idk.
Matt, I truly appreciate your support and the thought you’ve put into my content.
These are all awesome questions and like much of what I write about there’s nuance. This does require an article all to itself.
One thing is for sure though - Powell doesn’t have a problem with Bitcoin, but he does have a problem with stable coins which compete with the Fed’s monetary independence because they’re essentially offshore dollars created beyond the Fed’s control.
RE New York, I believe the stricter regulations are mostly the doing of Davos, as can be seen in their policy towards both crypto and bitcoin in Europe.
Lots to think/write about. I hope that helps clear anything up at all for you, and thank you again for your question. This certainly would make for an excellent piece all to itself in helping paint a better picture of the fight between Davos and the Fed.
Very interesting and informative article. I have a few questions.
First, how exactly do stable coins affect the ODM? I understand how dollars are multiplied outside the US, via Fractional Reserve Banking, but how are stable coins the same as bank deposits? What is the layman's explanation?
Just found you from your recent interview, and read several of your articles, which got my brain going. I know I'm dropping too many questions, and appreciate any reply, or maybe one would make a good article.
The NY banks are famously some of the prime movers of NYS politics - is the Powell/Davos tussle a big reason for the strict NY crypto regulations and BitLicense?
And is the Elizabeth Warren anti-crypto crusade a part of this struggle, or is it unrelated? It looks like most politicians - on the surface, anyhow - approach crypto ideologically; to wit, as with most things, the Dems with strict regulation, and portions of the GOP more free market. But that almost seems like some of them are working against their other interests, e.g., why would the Dems want to shut down their giant slush fund? I'm sure it can't be that simple. Or maybe it's different party factions, idk.
Thanks for reading.
Matt, I truly appreciate your support and the thought you’ve put into my content.
These are all awesome questions and like much of what I write about there’s nuance. This does require an article all to itself.
One thing is for sure though - Powell doesn’t have a problem with Bitcoin, but he does have a problem with stable coins which compete with the Fed’s monetary independence because they’re essentially offshore dollars created beyond the Fed’s control.
RE New York, I believe the stricter regulations are mostly the doing of Davos, as can be seen in their policy towards both crypto and bitcoin in Europe.
Lots to think/write about. I hope that helps clear anything up at all for you, and thank you again for your question. This certainly would make for an excellent piece all to itself in helping paint a better picture of the fight between Davos and the Fed.
Best!
"I believe the stricter regulations are mostly the doing of Davos" - They are similar, now that you mention it.
Appreciate the prompt reply, thanks much.
Very interesting and informative article. I have a few questions.
First, how exactly do stable coins affect the ODM? I understand how dollars are multiplied outside the US, via Fractional Reserve Banking, but how are stable coins the same as bank deposits? What is the layman's explanation?
Also, what do you think about SBF's vocality on twitter? It seems un-ponzi-scheme-like to post a 33-tweet thread explaining yourself. https://threadreaderapp.com/thread/1591989554881658880.html
Thanks for the article,
Boniface