Bernanke on Bitcoin

[Cubic Earth]

Tomorrow as he walks into his federal palace in D.C., a reporter shouts "what about bitcoin, Ben?".  He stops, turns and faces the reporter.  "As a banker, a staunch advocate of the free market, and as a mathematician, I welcome the competition.  May the best currency win!"  Ben then continues on his way to work.

[klaus]

because he's satoshi and he winns the game already 3 years ago...

[apetersson]

the fed has announced they will be buying 85B worth of bitcoins (2.125 Billion Bitcoins) each month to help the asset values of struggling software engineers, and improve their purchasing power. this will of course all trickle down to the people formerly known as upper and middle class.

[BkkCoins]

the fed has announced they will be buying 85B worth of bitcoins (2.125 Billion Bitcoins) each month to help the asset values of struggling software engineers, and improve their purchasing power. this will of course all trickle down to the people formerly known as upper and middle class.

You forgot the part about JP Morgan enabling that by issuing new Bitcoin derivatives. With these new Bitcoin Default Swaps and the new MtJP exchange the Fed can maximize taxpayer torture with as little as 2.125 BTC exposure.

[hugolp]

Tomorrow as he walks into his federal palace in D.C., a reporter shouts "what about bitcoin, Ben?".  He stops, turns and faces the reporter.  "As a banker, a staunch advocate of the free market, and as a mathematician, I welcome the competition.  May the best currency win!"  Ben then continues on his way to work.

If he really welcomes the competition, he should campaign for the removal of legal tender laws and the obligation of paying taxes with Federal Reserve dollars. Once all the regulations to favor the Federal Reserve dollars are gone, let the currencies compete and lets see what happens.

[Mjbmonetarymetals]

[Lethn]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

[knight22]

Tomorrow as he walks into his federal palace in D.C., a reporter shouts "what about bitcoin, Ben?".  He stops, turns and faces the reporter.  "As a banker, a staunch advocate of the free market, and as a mathematician, I welcome the competition.  May the best currency win!"  Ben then continues on his way to work.

I don't get it. Is that a joke?

[oleganza]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Fed does not really "print" any dollars. All the trillions that "exist" only appear in imagination of the people involved and affect their decisions, but they have no paper representation.

[Mjbmonetarymetals]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Think Ben "The Zero" Bernanke realised a while ago that more dollars would be required to buy the same amount of ink, easier to just stick a zero on the end...... The digital age 

[Mjbmonetarymetals]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Fed does not really "print" any dollars. All the trillions that "exist" only appear in imagination of the people involved and affect their decisions, but they have no paper representation.

You beat me to it 

[yucca]

because he's satoshi and he winns the game already 3 years ago...

this though has also crossed my mind 

[hugolp]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Fed does not really "print" any dollars. All the trillions that "exist" only appear in imagination of the people involved and affect their decisions, but they have no paper representation.

What does it matter that the dollars are on paper or electronic, they are still dollars and count the same. They are not imaginary, they are real, even if electronic. When the people says that Bernanke prints dollars, they dont mean that Bernanke goes down to the machine room, gets the paper into the printing machine and presses the on button. By printing money people mean that Bernanke increases the money supply and whether it is in paper or electronical form is irrelevant.

[xxjs]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Fed does not really "print" any dollars. All the trillions that "exist" only appear in imagination of the people involved and affect their decisions, but they have no paper representation.

What does it matter that the dollars are on paper or electronic, they are still dollars and count the same. They are not imaginary, they are real, even if electronic. When the people says that Bernanke prints dollars, they dont mean that Bernanke goes down to the machine room, gets the paper into the printing machine and presses the on button. By printing money people mean that Bernanke increases the money supply and whether it is in paper or electronical form is irrelevant.

I agree but it is of some importance if it is base money, money in demand deposit bank accounts, or transferable debt.

[vssa]

HI Bernanke-Coin is a grate idea don't you think?

[creativex]

Can we get a helicopter hat on the bald guy up there?

[Merralea]

HI Bernanke-Coin is a grate idea don't you think?

"We make it quantitative easy!"
I just choked on a glass of water.
I didn't even know that was possible.

[oleganza]

..... Mjbmonetarymetals that may have been a joke but lol maybe we should actually buy up all the paper and ink manufacturing factories so that the federal reserve can't print any more notes, or at least make it so that it's too expensive for them to keep it going

Fed does not really "print" any dollars. All the trillions that "exist" only appear in imagination of the people involved and affect their decisions, but they have no paper representation.

What does it matter that the dollars are on paper or electronic, they are still dollars and count the same. They are not imaginary, they are real, even if electronic. When the people says that Bernanke prints dollars, they dont mean that Bernanke goes down to the machine room, gets the paper into the printing machine and presses the on button. By printing money people mean that Bernanke increases the money supply and whether it is in paper or electronical form is irrelevant.

My reply regarding use of "print" verb was to a comment about paper and ink factories. I understand what people usually mean by saying "fed print dollars" and do not disagree with you.