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The Last Hope For Digital Currency Freedom May Soon Be Leaving The US
Reuters is reporting this ugly story and frankly, I’d like to scream, end the Fed…don’t give them a role in anything new.
Hoenig: Fed should have larger role in e-payments
FRANKFURT, May 25 (Reuters) – The U.S. Federal Reserve should play a bigger part in the development of electronic retail payment systems, a top Fed official said on Monday.
“In light of the trend toward greater industry concentration and the existence of important payments system externalities, the Federal Reserve should play a larger and more active role in electronic retail payments,” Thomas Hoenig, president of the Kansas City Fed, said in the text of a speech to be given at an European Central Bank conference in Frankfurt.
Hoenig also said that it was unlikely more competition in the payment systems would emerge without the Fed’s participation, especially at current times when capital is scarce and expensive.
Full story: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSFAB01312620090525
