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Stefan Gleason: The swamp vs. alternative currencies
By Stefan Gleason
Money Metals News Service
Monday, July 23, 2018
In Federal Reserve chair Jerome Powell's testimony before Congress last week, he reiterated his intent to continue the central bank's gradual rate-hiking campaign.
Among those who are "not thrilled" about the prospect of higher interest rates: the president of the United States. ...
Trump seems surprised that the Fed careerist he promoted to be chairman isn’t embracing Trump's economic priorities. But nobody drawn from the fiat money swamp should be expected to act contrary to what's in the institutional interests of the central bank -- and the banking elite more broadly. ...
... Dispatch continues below ...
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Powell apparently didn't want to say something that might offend Democrats. The Fed is "independent," after all, and non-partisan. It has to keep up appearances before Congress.
But when it came to the question of cryptocurrencies, the government's top banker felt free to go on at length about why he doesn't like them. ...
The banking system and deep state don't like hard currency any more than they like cryptocurrency as a competing alternative to the fiat regime they control. Alternative currency proliferation is making them nervous. ...
... For the remainder of the commentary:
https://www.moneymetals.com/news/2018/07/23/the-swamp-vs-alternative-cur...
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