WSJ Insider: Crypto = CFCs + Cocaine + Bearer Bonds?
The prestigious magazine has published highly crypto-skeptical thoughts by venerable economists Steve H. Hanke, a professor at Johns Hopkins University, and Matt Seckerke of the Institute for Applied Economics.
These old guys, as they say, broke down and poured out all the bile that had been accumulating for years. Just listen:
"Crypto is part chlorofluorocarbon, part cocaine and part bearer bond. It isn’t the future of finance. Rather than regulating crypto or “letting it burn,” the US gov’t needs policies that will eliminate cryptocurrencies and their metastases."
What?
But even these financial brontosauruses have not raised their hand to such basic things as bitcoin, ethereum, and collateralized stablecoins. People say that crypto should be regulated so that either nothing but these three remain, or that it disappears altogether. Since the systemic risks for the real economy are too great.
WSJ, thank you for the witty stand-up! We will study the quote about chlorocarbon in case of important negotiations.
"Crypto is part chlorofluorocarbon, part cocaine and part bearer bond. It isn’t the future of finance. Rather than regulating crypto or “letting it burn,” the US gov’t needs policies that will eliminate cryptocurrencies and their metastases."
What?
But even these financial brontosauruses have not raised their hand to such basic things as bitcoin, ethereum, and collateralized stablecoins. People say that crypto should be regulated so that either nothing but these three remain, or that it disappears altogether. Since the systemic risks for the real economy are too great.
WSJ, thank you for the witty stand-up! We will study the quote about chlorocarbon in case of important negotiations.
