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St. Louis Fed President James Bullard has Mixed Reviews for Cryptocurrencies

Discussion in 'Articles/News' started by Mark Mason, May 16, 2018.

  1. Mark Mason

    Mark Mason Active Member

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    St. Louis Fed President James Bullard has Mixed Reviews for Cryptocurrencies

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    The president of the St. Louis Federal Reserve, James Bullard, spoke at the opening day of Consensus 2018 in NYC where he had some mixed reviews of cryptocurrencies (his talk begins at minute 55:00 in the video).

    His talk combined the history of privately issued money, monetary theory, and debates that exist within the economics of currency. He believes that cryptocurrencies are “creating a drift to non-uniform currency” within the United States and highlights that the “literature says that publicly issued money and the privately issued currency can coexist as an equilibrium”. He added that non-uniform currencies were historically not popular and eventually replaced, citing pre-civil war era in the United States. He also referenced the current standard of non-uniform international currencies, but added that those currencies typically have relatively high and unpopular volatility.

    Read more: https://www.dashforcenews.com/st-lo...llard-has-mixed-reviews-for-cryptocurrencies/
     

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