Reader from OBX: "In addition to the impact on the demand for ST government debt from stable coins, the expansion in Xcrypto issuance and crypto asset prices (i.e, monopoly money) due to high demand can also be seen as an injection of liquidity (currency without backing) a phenomenon that has seldom, if ever, ended well. Your alert about a potential collapse à la #FTX is spot on. Fraudsters and incompetents abound. The volume of #Bitcoin may be limited, but the future volume of crypto currencies in circulation is likely to grow without limits until people realize it is a gigantic #Ponzi scheme, or inflation is off the charts. I am sticking to fiat currency, equities, investment grade bonds and tangible assets in the meantime."
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