Fed Board reject Moore to start a cryptocurrency central bank
Stephen Moore missed out on being appointed to the Board of the Federal Reserve.
He has now decided to start his own central bank instead by creating a cryptocurrency:
- will attempt to perform Fed like duties
- regulating the supply of crypto in the same way as the Fed controls the supply of money
- will exchange its own new token for other cryptos
- supply of the new cryptocurrency will be tied to the value of the dollar or some other "stable" valuation method
- "I'm really excited about doing this," Moore said. "I hope it makes me rich."
Info comes via Fox, link here.