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George Selgin
GeorgeSelgin
Thread: Fed officials are now saying that they'll be able to launch FedNow in 2023 rather than later:https://www.finextra.com/newsarticle/37418/fed-narrows-timeframe-for-launch-of-real-time-payments-platform It's understandable that
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An answer, in a thread, because others may gain something by it.https://twitter.com/clairlemon/status/1354207014935646214 The first thing you must do, if you wish to understand the value of an irredeemable fiat money
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I don't think its worth holding up a second relief bill for the sake of clamping down on possible abuse of the Fed's 13(3) lending. However, I do believe that
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"At the start of 2020, the dollar’s run had endured 100 years. That would have been reason to question how much longer it could continue." This crude instance of the
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States have been monopolizing currency of all sorts since ancient times, and they have been claiming for just as long that their monopolies are necessary to preserve the integrity of
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Thread: Why is currency monopoly so important to these gov't representatives? And what sort of dissembling are they up in claiming that they want "to make sure the currency monopoly
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The debate about stablecoin regulation is at bottom part of a broader debate about regulatory classification of fintech payment service providers (PSPs). But it is, IMHO, wrong to reduce this
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"She has also questioned whether the Fed should even exist." Set aside the question of Shelton's overall merits. I wonder why merely "questioning" the need for the Fed, or deposit
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While simply "eliminating" deposit insurance is not a wise prescription for reform, show me an economist who denies that it can encourage excessive risk taking, and has done so in
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It's remarkable how even a minor government intervention can sometimes take on a life of its own, feeding on itself in a way that sometimes seems to end only with
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Thread: It's very important to distinguish the implications of Fed monetization of _outstanding_ Treasury debt from those of Fed monetization of net Treasury security issues.https://twitter.com/TheStalwart/status/1324446235776921600 Mon
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Let's please get some things straight: (1) a digital Euro currency is not a "new monetary standard." Digital Euros are...Euros. (The Euro was new in 1999.) (2) Digital Euro currency
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