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

What else to expect from corporate media protecting the money printing press...

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.