Ep19 “The Future of Money: Central Bank Digital Currency?” with Kevin Warsh
All Else Equal: Making Better Decisions
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The Dangers of Regulating Stablecoins
Jonathan Gruber: I am incredibly uncomfortable with the idea which has been gaining traction in Washington, that stablecoins are fine, so long as we regulate them like a bank. Gruber: The political economy makes it such that you almost are sure they have to bail it out because you don't want the dollar to be falling in its prestige and its privilege. He says he was pretty convinced by his argument that the government has a role in setting up the rails. "Government providing infrastructure while giving the private sector all the room it wants to be entrepreneurial"
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