The Banking Crisis and Crypto with Art Laffer
FYI - For Your Innovation
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The Future of Cryptocurrency
Crypto is a substitute money. And therefore, some portion of crypto should be in your M as well as the monetary base times the money multiplier equals M. So when you look at the declining M to, you may not be seeing the declines you really believe you're seeing because the alternative money substitutes are expanding much more rapidly. That ecosystem is roughly a trillion dollars globally. It's going to become a national election issue. This next year will become what they're doing. The SEC issued Coinbase a Well's Notice. They've been preparing for this. We need to move outside of a national perspective on this.
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