Why Ron DeSantis Is Taking Aim at the Federal
Reserve
https://www.nytimes.com/2023/04/11/business/economy/desantis-federal-reserve-powell.html
https://www.nytimes.com/2023/04/11/business/economy/desantis-federal-reserve-powell.html
The Weird New War on ‘Woke’ Money
https://www.nytimes.com/2023/04/07/opinion/desantis-digital-currency-florida.html
Paul Krugman:
Right now the demand for cryptocurrency comes partly from people who honestly, rightly or wrongly, don’t trust banks, and partly from people engaged in illicit activities. The former group would probably flock to a central bank digital currency, which would offer the convenience of banking without its perceived risks. This would, however, help to deflate the crypto bubble. Maybe more important, it would suggest that those still using private digital currencies are probably up to no good. In effect, it would strip away the veil obscuring the dark side of crypto.
Which tells us what DeSantis’s attack on central bank digital currency would actually do. It wouldn’t protect the rights of Floridians to buy gas or guns; instead, it would protect the ability of wiseguys to evade taxes, launder money, buy and sell illegal drugs, and engage in extortion.
https://www.nytimes.com/2023/04/07/opinion/desantis-digital-currency-florida.html
Paul Krugman:
Right now the demand for cryptocurrency comes partly from people who honestly, rightly or wrongly, don’t trust banks, and partly from people engaged in illicit activities. The former group would probably flock to a central bank digital currency, which would offer the convenience of banking without its perceived risks. This would, however, help to deflate the crypto bubble. Maybe more important, it would suggest that those still using private digital currencies are probably up to no good. In effect, it would strip away the veil obscuring the dark side of crypto.
Which tells us what DeSantis’s attack on central bank digital currency would actually do. It wouldn’t protect the rights of Floridians to buy gas or guns; instead, it would protect the ability of wiseguys to evade taxes, launder money, buy and sell illegal drugs, and engage in extortion.