Sunday, April 2, 2017
CATO and their banking group have reached a tipping point
They put this book out:
Monetary Alternatives: Rethinking Government Fiat Money,
It is actually a very good summary of the monetary issues. Larry White has a great summary of the crypto currency world, just a tad out of date.
But, CATO has proved the point, no arbitrage silicon cash is arriving. So what is CATO going to do, disband the group? If they are the libertarians they claim, they should fund the group. CATO, Selgin and White put themselves in this position. They are the only two who can credibly bridge the gap between the technologies. CATO and everyone else certainly knows this.
Just consider Trumpster and his committee of space cowboys,Timmy, Elon, and the Flying Car kids. No one in official banking is oing to trustthis bunch, they will convert it into an inside job,and you end up right back with central banking and government having to cover the losses. And this market, I watch the old trading systems and the new; the two are going to collide, and the banking community will be obstinate unless you have a Selgin or White who can walk both sides of the street.
They don't need me, they know where to find pricing technology, they can provide key technology. CATO's job is either done or they are starting a company.
Posted by Matt Young at 9:12 AM