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Metaphorical

(2,351 posts)
17. Crypto Won't Happen
Sat Nov 9, 2024, 10:57 AM
Nov 9

The Tech Bros are fooling themselves.

The Federal Reserve looked hard at crypto for quite some time, and came away with the conclusion that it is both too volatile and too easy to corrupt. Similarly, if they were to go that route, they would create a US e-currency that would very quickly crowd out BTC and ETH, rendering them little more than a bad joke. The tech bros are not going to get the dollar concession, period.

As to Johnson - yes, I've considered that possibility as well. However, the House is not yet in Republican hands, and while it likely will be, the margin is going to be paper thin, especially since the outstanding races are all in purple areas that could go blue (it could end up being 217-215 R, or even 217-215 D). This is going to be very hard for Trump to get ANY legislation through. Trump can declare anything he wants (and no doubt he will try to run by executive order) but getting past the House is likely to be the hurdle he'll hit frequently. What's more, even a couple of defections to the Ds could shift power to the Democrats), and we are frankly not in any mood to help the Republicans OR Johnson at this point.






Recommendations

1 members have recommended this reply (displayed in chronological order):

This may be the game plan. [View all] Qutzupalotl Nov 9 OP
This is entirely possible... maybe even likley. lapfog_1 Nov 9 #1
One obstacle would be removing Powell as Fed Chair. Qutzupalotl Nov 9 #4
If Trump wants him gone, he will be gone. Irish_Dem Dec 7 #28
Kooky nonsense with the barest of threads to reality Fiendish Thingy Nov 9 #2
everything the nazis in germany did was legal when they did it nt msongs Nov 9 #3
Apples to Oranges Fiendish Thingy Nov 9 #6
There's a reason that private equity and REITs have grown so much lostnfound Nov 9 #12
Your points are salient misanthrope Nov 9 #8
If all currencies become valueless, so does crypto. Nt Fiendish Thingy Nov 9 #14
I was unclear misanthrope Nov 9 #19
if the US dollar collapses, what currency will crypto be based on - the ruble? Chinese remenbi? Euro? Fiendish Thingy Nov 9 #20
The danger is if a cryptocurrency replaces the dollar. Qutzupalotl Nov 9 #22
That's what I've been expecting... 2naSalit Nov 9 #5
Lord have mercy! Dem4life1234 Nov 9 #7
It's possible. markodochartaigh Nov 9 #9
They only provoke budgetary crises when Dems hold the WH Fiendish Thingy Nov 9 #15
Hmmmmm ... sounds like the makings of a good "ask" in the new year! calimary Dec 7 #25
This time it is a crime syndicate in charge. Irish_Dem Dec 7 #29
I'm almost speechless, Biden has to be aware of this KS Toronado Nov 9 #10
Don't fall for this nonsense Fiendish Thingy Nov 9 #16
Why, with cryptocurrency, of course. Qutzupalotl Nov 9 #24
Nobody said they were smart, just utterly vile. 58Sunliner Dec 7 #26
So where do they stand ? I'm guessing that Wiles person and Vance are on the same side JI7 Nov 9 #11
They spent millions and Musk & Moreno are driving this Blue Full Moon Nov 9 #13
Crypto Won't Happen Metaphorical Nov 9 #17
This would immediately trigger the worst global depression ever Buckeyeblue Nov 9 #18
Oh. So THIS is what Musk meant... Kid Berwyn Nov 9 #21
Yes, it lines up with his recent public statements, Qutzupalotl Nov 9 #23
This is so far-fetched that OrlandoDem2 Dec 7 #27
One can hope that enough rich folks are not on board with this tech wizardry, usonian Dec 7 #30
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