{"id":52131,"date":"2020-04-02T19:50:12","date_gmt":"2020-04-03T00:50:12","guid":{"rendered":"https:\/\/olduvai.ca\/?p=52131"},"modified":"2020-04-02T19:50:19","modified_gmt":"2020-04-03T00:50:19","slug":"feds-quantitative-easing-strategy-holds-long-term-benefits-for-crypto","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=52131","title":{"rendered":"Fed\u2019s Quantitative Easing Strategy Holds Long-Term Benefits for Crypto"},"content":{"rendered":"\n

Fed\u2019s Quantitative Easing Strategy Holds Long-Term Benefits for Crypto<\/a><\/h3>\n\n\n\n
\"Fed\u2019s<\/figure>\n\n\n\n

These are perilous times, and it hasn\u2019t escaped anyone\u2019s notice that the United States Federal Reserve<\/a> is doing its part to alleviate the suffering \u2014 which began with the coronavirus pandemic and has spread to the global economy. It\u2019s printing more money. <\/p>\n\n\n\n

\u201cThere is an infinite amount of cash at the Federal Reserve,\u201d Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, told<\/a> Scott Pelley of CBS on March 22, adding: \u201cWe will do whatever we need to do to make sure there is enough cash in the financial system.\u201d<\/p>\n\n\n\n

The U.S. Federal Reserve itself reinforced that message on March 23, announcing<\/a> that it would \u201ccontinue to purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning.\u201d<\/p>\n\n\n\n

The death of capitalism?<\/strong><\/p>\n\n\n\n

Reactions to these affirmations of quantitative easing, or QE, have been swift from sectors of the crypto community: \u201cWith these words, the last vestige of #capitalism died in the US,\u201d wrote<\/a> Caitlin Long, who established<\/a> the first crypto-native bank in the United States. \u201c[The] Fed\u2019s monetization U.S. debt is now unlimited.\u201d<\/p>\n\n\n\n

Mati Greenspan, the CEO and co-founder of Quantum Economics told Cointelegraph: \u201cThe Fed said it is willing to buy the entire market\u201d if necessary to stabilize markets. Meanwhile, on the fiscal side, Congress\u2019s $2 trillion stimulus package includes handouts like \u201chelicopter money\u201d \u2014 i.e., a $1,200 payment to every tax-paying adult who has an annual income below $75,000. \u201cInflation is pretty much a foregone conclusion at this point,\u201d he stated<\/a> elsewhere.<\/p>\n\n\n\n

Garrick Hileman, head of research at Blockchain.com, told Cointelegraph: \u201cThe response by central banks to COVID-19 is truly unprecedented, with Fed and Bank of England officials using terms like \u2018infinite,\u2019 \u2018unlimited\u2019 and \u2018radical.\u2019\u201d They\u2019ve been using such extraordinary language in the hope they\u2019ll prevent equity and credit markets from seizing up. \u201cOnly time will tell if they have gone too far.\u201d<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Fed\u2019s Quantitative Easing Strategy Holds Long-Term Benefits for Crypto These are perilous times, and it hasn\u2019t escaped anyone\u2019s notice that the United States Federal Reserve is doing its part to alleviate the suffering \u2014 which began with the coronavirus pandemic and has spread to the global economy. It\u2019s printing more money.  \u201cThere is an infinite amount of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[29298,18870,15611,303,426,536],"class_list":["post-52131","post","type-post","status-publish","format-standard","hentry","category-economics","tag-andrew-singer","tag-coin-telegraph","tag-cryptocurrency","tag-fed","tag-inflation","tag-money"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52131"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52131\/revisions"}],"predecessor-version":[{"id":52132,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52131\/revisions\/52132"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}