Money Reimagined: Price Swings Versus the Long Term
The popping of bubbles does not indicate the failure of crypto technology itself, which continues to see massive long-term venture interest.
Haste is not conducive to the kind of nuanced regulatory approach needed for this fast-growing class of cryptos. Nor is scaremongering about “bank runs.”
As commerce moves online, transactions are increasingly subject to vetoes by middlemen who impose their values. Innocent people need alternatives.
Uniswap’s move to restrict investor access to certain tokens, apparently from regulatory pressure, raises questions about DeFi's decentralization.
The Consumer Price Index has given Americans a falsely comforting perception of reality. When even this metric jumps 5%, we’d better hope it’s a glitch.
To maintain the dollar's position in the world, the U.S. should follow Randal Quarles’ advice and foster an open, stablecoin-driven money system.