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Does the Fed Have Any Idea What It’s Doing? | Jeff Snider & Brent Johnson
Hidden Forces
The Importance of CBDC
Jeff and Brent: There's a reason why no one forced USDC or tether to peg to the dollar. No one forced international crypto markets to exchange in dollars. That's what network effects are. I feel like the process that we've been going through is a move from this more open, outsourced, lending and banking model where not only the creation of money happens through the banking system but also the sense of how much money the economy needs is outsourced. It's an extremely difficult thing to do number one. And number two, it would undermine the dollar hegemony.
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