Fed’s Barr says crypto stablecoins could amount to private money that might be destabilizing for the US financial system if left unchecked

submitted by Drewski from finance.yahoo.com

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[–]Drewski[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

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[–]SoCo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

He says the same when investigating PayPal's fully backed stablecoin. They are confusing the public about non-existent risks. Stablecoins should have no risk, otherwise they aren't stable. Algorithmically adjusting coins are not stable coins, they are an attempt at a psudo-stablecoin. They are using fears of algorithmic coin failures in the past, to mislead the public about non-existent risks in fully backed stable coins.

...because they risk destabilizing the corrupt centralized US scam financial system that has enslaved half the world.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Im 100% sure its the untaxed computer currency that is destroying the US financial system.

[–]hfxB0oyA 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The US financial system seems to be doing a fine job of destabilizing itself.