Uruguay’s Central Bank (BCU) formally presented rollout of its pioneering digitization of the Uruguayan peso on 3 November 2017. Set now as a pilot program, the bank’s head was careful to remind it “is not a cryptocurrency such as bitcoins,” but “a currency that remains the responsibility of the BCU,” according to an Argentinian report.
Once any crypto currency comes into existence, it is auto-trade in the pits by bots. It does not mean that the fiat function goes away, it means that the intentions of the central bankers are transferred to its own bot for fair auto-trading. It is still fractional reserve, it is still fiat banking; it has become auto traded.
This should not be a big deal except it reduces utility of the debt advisory committee and the debt cartel. No one has advanced information since the pit boss is an observable price maker and the tradebook uncetainty is minimized.
Basically, crypto and auto trading stops the socialists from stealing from the poor and giving to the rich.
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