Then-Fed Chairman Bernanke in 2009 succinctly and honestly, if shockingly, referred to the Fed’s money creation process via commercial bank intermediation by saying, “we simply use the computer to mark up the size of the account they have with the Fed.” The money so a) “created”, and then b) multiplied – because only fractional bank reserves are required – and then c) lent out by banks. Stone Ridge 2020 Investors Letter, inside.
Miners never stop working, not even on Bitcoin’s birthday.
Ripple Army dealt a deadly blow by Coinbase. Coinbase plans to suspend trading for XRP on Jan. 19 but added it “may be halted earlier as needed.”
The sound you hear is flushing. XRP has been politely delisted by Coinbase.
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