Nick Anthony (@EconWithNick) on X (original) (raw)

Research Fellow at the

@CatoInstitute

's

@CatoCMFA

and Fellow at the

@HRF

. Covering CBDCs, financial privacy, and cryptocurrency. Opinions are my own.

• Pinned
  
  Did I hold up the Constitution to Congress? Yes. Did I reference the Grateful Dead? Also, Yes.
• 
  All eyes are on Jackson Hole, but the real statement of the summer came from
  @neelkashkari
  : “I keep asking anybody to explain to me what problem [a CBDC] is solving.” 🧵
• 
  And here we have Deputy Managing Director of the IMF sharing how central bank digital currency (CBDC) would allow the government to precisely control what people can and cannot spend their money on.
• 
  Trump: Harris wants "to impose communist-inspired price controls which have never worked.” Trump 10 minutes later: "We’re going to put a temporary [10%] cap on credit card interest rates." 🔗: cato.org/commentary/tru…
• 
  In an attempt to pin the blame on cryptocurrency,
  @SenFettermanPA
  asked, “Why didn’t Hamas use a credit card?” However, Schlomit Wagman quickly corrected him to explain that they did.
• 
  Kudos to
  @SenatorHagerty
  for clarifying the record in response to WSJ’s reporting on cryptocurrency use and terrorist financing. This is especially important given how many members of Congress endorsed that reporting.
• 
  It really is wild that the FDIC tried delete from existence that they published a list of "high-risk" categories. The page on the left is the original version of the article. The page on the right is what people see now if they go on the FDIC's website.
• 
  I'm proud to officially announce the
  @HRF
  CBDC Tracker. Here's everything you need to get up to speed. 🧵 🔗: hrf.org/cbdctracker
• 
  After the Wall Street Journal pinned part of the blame for terrorist financing on cryptocurrency, Senator Elizabeth Warren got over 100 members of Congress to sign a letter calling for a crackdown on cryptocurrency. But the data was wrong.🧵
• 
  With
  @iampaulgrewal
  ’s latest FOIA requests out, there’s a ton of new information to go through. The most shocking finding across the letters is still the repeated instructions to “pause” cryptocurrency-related activity. But the problems go deeper.🧵
• 
  Replying to @EconWithNick
  I may not always agree with
  @neelkashkari
  , but he is absolutely correct when he points out that he can send anyone money with Venmo. You don’t need a CBDC to do that.
• 
• 
  Replying to @EconWithNick
  In the words of
  @neelkashkari
  , I can see how China is for this. I don't see how Americans would want this.
• 
  Replying to @EconWithNick
  And again,
  @neelkashkari
  is spot on when he says that it makes sense for China to wants one, but not the United States, considering the potential to use a CBDC as a surveillance tool.