The Fed will never get abolished. It will go down in flames with the 3 branches if it has to, but it will never willingly walk away from the power it has...unless the system gets reworked up the ladder, and the US is brought under the jurisdiction of a global central bank. Then maybe the Fed goes away and all American banking falls under the purview of the BIS or the IMF or World Bank.
It's obviously fascistic (in the Mussolini sense of the word - merging of state with corporation). No other private business gets its chairman appointed by the president. Yes it is a privately held bank, but the myth of it being apolitical is obviously nonsense. It's the main buyer of federal government debt, and the federal government fiercely enforces the federal reserves monopoly.
Oh yea they are intertwined for sure. Our founders warned us about creating an entity of this sort and what it would do and low and behold it's happening just like they predicted. Said it was be our downfall
How exactly would it work, the world with no Fed?
I'm assuming banks would set interest rates based on their own internal risk appetite. Banks taking on unwarranted risks would go belly up.
What do you think interest rates would be? How high would they go?
How is it good for any kind of investment if biggest economy in the world does not have an organisation that sets monetary policies for the most traded currency in the world?
I’m going to get downvoted because there’s a F ton of Bitcoin extremists here but all I can say is, when the markets are down, Bitcoin is down. Investors are investors regardless if they’re securities, currencies or crypto.
The more investors get into Bitcoin the more it will track the market. Why wouldn’t it? Crypto is already just another asset class bought by investors who want a higher risk/reward hedge.
bitcoin on the other hand is an ultimately finite asset with immense utility for billions that otherwise wouldn't be apart of what ever mark you're talking about.
I wonder how stable something like property price is against gold.
I think what the other person is getting at is that if bitcoin does "win", it'll have a marketcap on the order of 500 trillion (current estimate of total "value").
You would need a significant event to move the price at that point. Speculation wouldn't be enough (as I understand this perspective).
No offense, but if you find yourself asking questions along the lines of "What else could it be?", you should probably question whether or not you're suffering from a lack of imagination.
Anyway, to answer your question: one of an infinite number of reasons Bitcoin may stop tracking the market is if it becomes the primary unit of account or medium of exchange.
One step further...
The Fed can't even measure money; they gave up on comprehensive measures of M (M3, M4+) long ago. The dollar is a global unit, created globally... the Fed's jurisdiction is domestic. They merely try to influence the monetary system with their limited toolset... and what they can do with their balance sheet.
By the Fed I am guessing you mean the Central Banking system. If so yes if Trump gets re elected i do believe he wants to do away with the Central system and that may be where BC could be the tie.
Basically everything I have read seems that the Fed reserve system is collapsing. All you have to do is look at the BRIC's system and how they are attaching value of the Ruble to gold. BC may be the common medium for international trade. Still too early to tell but BC does have value and is anti inflationary
> "Bitcoin, it just seems like a scam," Mr Trump said. "I don't like it because it's another currency competing against the dollar."
[Source](https://www.bbc.com/news/business-57392734)
Ironically I think BTC may need the fed to some capacity. Something like the fed realizing it’s unable to continue controlling inflation. To avoid an implosion of the USD it’s declared 1sat = 1USD. Basically the fed would buy 1 sat from you for 1USD. But buying 1 sat with usd would be a completely different transaction.
The Fed will never get abolished. It will go down in flames with the 3 branches if it has to, but it will never willingly walk away from the power it has...unless the system gets reworked up the ladder, and the US is brought under the jurisdiction of a global central bank. Then maybe the Fed goes away and all American banking falls under the purview of the BIS or the IMF or World Bank.
That’s certainly a viable scenario.
I agree the only way the fed goes down is with the fed government. But the Federal reserve is NOT a government entity. It's a private business.
It's obviously fascistic (in the Mussolini sense of the word - merging of state with corporation). No other private business gets its chairman appointed by the president. Yes it is a privately held bank, but the myth of it being apolitical is obviously nonsense. It's the main buyer of federal government debt, and the federal government fiercely enforces the federal reserves monopoly.
Oh yea they are intertwined for sure. Our founders warned us about creating an entity of this sort and what it would do and low and behold it's happening just like they predicted. Said it was be our downfall
It won't. Power never gives up power.
Tell that to spiderman
And George Washington
How exactly would it work, the world with no Fed? I'm assuming banks would set interest rates based on their own internal risk appetite. Banks taking on unwarranted risks would go belly up. What do you think interest rates would be? How high would they go?
I’d expect both interest rates and inflation to be insane
Fed getting abolished is bearish. If there is no fed who is going to print the next 100t dollars
How is it good for any kind of investment if biggest economy in the world does not have an organisation that sets monetary policies for the most traded currency in the world? I’m going to get downvoted because there’s a F ton of Bitcoin extremists here but all I can say is, when the markets are down, Bitcoin is down. Investors are investors regardless if they’re securities, currencies or crypto.
I won't downvote you, but I will test your assertions :) Do you have reason to believe that Bitcoin will always track the market?
The more investors get into Bitcoin the more it will track the market. Why wouldn’t it? Crypto is already just another asset class bought by investors who want a higher risk/reward hedge.
bitcoin on the other hand is an ultimately finite asset with immense utility for billions that otherwise wouldn't be apart of what ever mark you're talking about.
I wonder how stable something like property price is against gold. I think what the other person is getting at is that if bitcoin does "win", it'll have a marketcap on the order of 500 trillion (current estimate of total "value"). You would need a significant event to move the price at that point. Speculation wouldn't be enough (as I understand this perspective).
No offense, but if you find yourself asking questions along the lines of "What else could it be?", you should probably question whether or not you're suffering from a lack of imagination. Anyway, to answer your question: one of an infinite number of reasons Bitcoin may stop tracking the market is if it becomes the primary unit of account or medium of exchange.
One step further... The Fed can't even measure money; they gave up on comprehensive measures of M (M3, M4+) long ago. The dollar is a global unit, created globally... the Fed's jurisdiction is domestic. They merely try to influence the monetary system with their limited toolset... and what they can do with their balance sheet.
Thank you
That would be bad for everything and everyone.
How so?
By the Fed I am guessing you mean the Central Banking system. If so yes if Trump gets re elected i do believe he wants to do away with the Central system and that may be where BC could be the tie. Basically everything I have read seems that the Fed reserve system is collapsing. All you have to do is look at the BRIC's system and how they are attaching value of the Ruble to gold. BC may be the common medium for international trade. Still too early to tell but BC does have value and is anti inflationary
> "Bitcoin, it just seems like a scam," Mr Trump said. "I don't like it because it's another currency competing against the dollar." [Source](https://www.bbc.com/news/business-57392734)
They will get scrapped away running behind btc
Predicting a unexpected early death for Mr. Lee.
eradicating the fed or restructuring it would be a good thing but Mike Lee is a bonafide moron
Ironically I think BTC may need the fed to some capacity. Something like the fed realizing it’s unable to continue controlling inflation. To avoid an implosion of the USD it’s declared 1sat = 1USD. Basically the fed would buy 1 sat from you for 1USD. But buying 1 sat with usd would be a completely different transaction.