Replies to post #21343 on First Bitcoin Capital Corp (BITCF)

[planetaryfuture]

Federal Reserve Chairman Powell Compares Bitcoin To Gold .....

I see this news about Fed Chairman Powell somewhat surprising !!! ..... and find a spark of good cause to wonder if Powell may be capitulating ..... relative to the extremely damaging and unpopular historical role the Federal Reserve System has assumed as an activist "hammer for monetary policy ?" ..... which many savvy observers believe should be deconstructed for the good of the Nation and the "well-being of America's entire population" ..... Has the role of the Federal Reserve reached a practical point of closure ? .....

If so ..... and Congress finds the "guts and insight" to take prudent legislative measures ...... the effect of fiscal "uplift" would be unprecedented for both America and the entire planetary economy .....

Governments could finally "afford" to work for the good of ALL people !!! .....

Fed Chairman Jerome Powell Compares Bitcoin To Gold

July 11, 2019 ..... by Daniel Kuhn


Federal Reserve Chairman Jerome Powell said he can envision a return to an era where multiple currencies are in use in the United States.

During Powell’s testimony before the Senate Banking Committee on Facebook’s planned Libra cryptocurrency, he said: “The size of Facebook’s network means it could be, essentially, immediately systemically important.”

Though the initiative raised “a lot of serious concerns,” including privacy, money laundering, consumer protection, and financial stability, he began to speak favorably about other cryptocurrencies.

“Almost no one uses bitcoin for payments, they use it more as an alternative to gold,” he said Thursday afternoon. “It’s a speculative store of value.”

Powell has stated in the past that the United States should not return to the gold standard. Some took the statement as referring to a call to “drop gold, buy bitcoin.”

https://www.coindesk.com/fed-chairman-jerome-powell-compares-bitcoin-to-gold

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