Friday, January 13, 2017

Currency guru speaks about Fed coin

Fedcoin: The U.S. Will Issue E-Currency That You Will Use

Casey likens the potential currency revolution to the Industrial Revolution. The technologies developed then gave unprecedented freedom and literally ‘life’ to the common man; the human life-span and population increased dramatically.Bitcoin and blockchain are equally liberating to the individual but revolutionary technologies also challenge the status quo. And, so, entrenched powers attempt to co-opt their use.Whether governments will succeed is not clear; they may be thwarted by their own incompetence or by the intrinsic decentralization of cryptocurrencies. It seems clear, however, that governments will make the attempt. And when they do, the best response is a better technology that sprints forward and leaves those who wish to ‘tame’ it coughing on its dust.Those on the cutting edge of technology are today’s freedom fighters.
The Fed coin has no theory of operation except Rogoff's idea of deploying Euler  pricing cops. And crypto currencies everywhere are blocked until we get smart card and fair trading pits with price compression.  The  switch in technologies must inlude the write off of much federal debt, bankruptcy.


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