The Federal Reserve's Intelligence

[kiba]

"The Federal Reserve has more PHD's per square foot than any institution in the world" - Alan Greenspan, 2006.

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

[Bitquux]

For all those PhDs, they sure can predict the economy well (sarcasm)

Why predict what you already own?

[grondilu]

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.

[Anonymous]

bitcoin=no bank holidays

 

[BrightAnarchist]

bitcoin=no bank holidays

 

bitcoin=QE2...oh wait, it doesn't affect me.

[MoonShadow]

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.

It's true that Bitcoin has no enforcement wing, but the last time that the US Congress inflated the currency that the military was paid with, we can within inches of a military takeover.  If it wasn't for Washington, we could have ended up with a military dictator as fast as the French did.  It's were the old phrase, "not worth a Continental" came from, and not because the Continental note was worth much.  It's really dangerous for the Fed to inflate with abandon, and they know it.

[BrightAnarchist]

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.

It's true that Bitcoin has no enforcement wing, but the last time that the US Congress inflated the currency that the military was paid with, we can within inches of a military takeover.  If it wasn't for Washington, we could have ended up with a military dictator as fast as the French did.  It's were the old phrase, "not worth a Continental" came from, and not because the Continental note was worth much.  It's really dangerous for the Fed to inflate with abandon, and they know it.

True, and ultimately hyperinflation would destroy the Fed itself, so despite what people think the Fed would not desire this. They do, of course, want to inflate to bail out their buddies etc, but just so long as they do it discretely and slowly enough so that the public doesn't lose trust in their crappy money.

[joeydangerous]

I have noticed that it is mostly libertarian hackers on here! I'm only the first one though, but I still love bitcoin. I already have more faith in it than these dollars we've been using.