(LIBERTY CONSERVATIVE NEWS) – The Federal Reserve is talking about adopting a "digital dollar" as cryptocurrencies take off and the central bank wants to proceed toward the cashless society.
"We are looking very carefully about whether we should issue a digital dollar," Fed Chairman Jerome Powell said before the Senate Banking Committee. "As the reserve currency, we have the responsibility to get this right rather than be the first."
Powell made it clear that his central bank will be upping the inflation in order to destroy the value of paper money and ease the transition toward the cashless society.
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