Monday, May 10, 2021

NFT, SPAC, and the Future of Money

What these widely diverging cults of money were responding to was a sense that money had come alive again — that, given the global financial crisis and the Fed’s “using a computer to mark up the size of the account,” money had been reanimated from the suspension of settled policy consensus. After 30 years of broad political and academic agreement on the correct path for monetary policy, the institutional crisis of banks and governments in 2008 (not to mention the collapse of a gatekeeping news media) had opened up space for a new theory of money — or a dozen.


Mostly a lot of fluffy nonsense, but still curious to see the left-wing MSM take notice of this great transmorgification.

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