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Peak NYT on Bitcoin, the new Krugman op-ed:
-Calls BTC the “new sub-prime” -Says it has “few legal applications” -Gaslights by saying the non-white, working-class majority of US BTC buyers has been hurt -Govt has “failed to protect the public” from BTC
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What else to expect from corporate media protecting the money printing press...
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It manages both to seem futuristic and to appeal to old-style goldbug fears that the government will inflate away your savings, and huge past gains have drawn in investors worried about missing out. So crypto has become a large asset class even though nobody can clearly explain what legitimate purpose it’s for.
How can you dismiss inflation fears so casually when we're at a 40-year inflation high? It's so sad he's taken seriously by anyone.
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