2013-07-23 WSJ: Larry Summers ‘Failing Up’ to the Fed

[Arvicco]

http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-288243/

Bitcoin reference at the very end, in a relevant context too:

Meantime, Cameron and Tyler Winklevoss are starting a bitcoin investment fund. Bitcoin is a virtual currency for Internet transactions. Some say it’s a new model for money. Others call it just another Ponzi scheme. But one of bitcoin’s appeals is that it can’t be manipulated by the Fed.

The bitcoin play makes me afraid that once again, the Winklevoss twins may understand something that Mr. Summers does not.

[marcus_of_augustus]

There is an ironic symmetry here in that the Winklevoss twins were appealing to Larry Summer's (then chair of Havard) better sensibilities early on in the case against Zuckerberg and The Facebook.

http://www.foxnews.com/tech/2011/07/20/former-harvard-president-larry-summers-slams-winklevoss-twins/

Now Winklevi are open supporters of bitcoin, a competitor to Federal reserve paper/digital sub-prime backed dollar products ... and Zuckerberg is pimping out his user's data/secrets for the NSA, (apparently whilst harbouring contempt for anyone stupid enough to use the service) ... the world turns.

Pass the popcorn.

[₿itcoin]

Mr. Summers is a master at “failing up.” Screw up at one job, get a better one. He’s now considered a front-runner to replace Federal Reserve Chairman Ben Bernanke in January.

I hope he will become a chairman and finally shatter the FED
Keep buying bitcoins.