George Gaiman's Case for a Digital Currency

Bob Murphy: George Gaiman thinks the Fed is trying to organize these bailouts. He says that by yelling in FDIC, everybody coming in and saying, "Don't worry, we're going to keep everybody whole," all the depositors end up just holding claims issued by the Federal Reserve. And then it'd be easy just to turn that into a digital currency, he says. BobMurphy: There are some nuances that are interesting about how they classified their bonds. If you want to go check it out, I'll try to find at least one article like that and post it.