Economics ignoramus (ALLEGEDLY!) Stephan Moore, Comrade Stupid’s failed nominee to the Federal Reserve, is not a man to be discarded lightly, you must throw a grifter like him with a great amount of force:
“Economist Stephen Moore, who recently lost out on a bid to join the board of the Federal Reserve, is now looking to start his own mini-Fed through the creation of a cryptocurrency product that is billing itself as “the world’s decentralized central bank,” FOX Business Network has learned.
“Moore has joined a group of entrepreneurs who are starting what they describe as a new type of central bank they believe will stabilize cryptocurrencies like bitcoin and its myriad of imitators, according to an investor pitch deck obtained by FOX Business and interviews with people associated with the effort.”
Decentral, as this cryptocurrency bank wants to be nicknamed, will attempt to perform Fed like duties to regulate the supply of cryptocurrencies in the same way as the Fed controls the supply of money for the U.S. economy. Good luck with that, buddy.
So what, exactly, is Moore doing?
“Moore’s role is somewhat unclear. For now he is the group’s chief economic officer and will report to tech entrepreneur Sam Kazemian, Decentral’s chief executive officer. In a brief interview, Moore described the Decentral crypto as something similar to what social media powerhouse Facebook is planning with its new Libra token—namely a payment method that is also pegged to a stable currency and could offer uniformity and reliability in the crypto world that is currently fractured among various different currencies.”
Yeah, but what is he really doing?
“I’m really excited about doing this,” Moore said. “I hope it makes me rich.”