Cardano CEO likens the US dollar to the OneCoin scam as the Fed continues

The cryptocurrency community has reacted violently to the news that the US Federal Reserve is preparing to “print” more money to avoid the economic crisis worsened by the coronavirus pandemic.

Charles Hoskinson – CEO of the organization behind Cardano IOHK, even had tweet on March 23 that he “sensed a real vibe of Onecoin”, from the US dollar.

Congress supported the Fed to “print” more money

In an interview with CBS 60 Minutes, Minneapolis Federal Reserve Chairman Neel Kashkari mentioned “having an infinite amount of cash at the Federal Reserve.”

After being forced into his comment, Kashkari clarified:

“That is literally what Congress told us to do. That is the authority they gave us; print money and provide liquidity to the financial system. ”

The idea that the Federal Reserve could print an infinite amount of new money sparked Hoskinson's comparison with OneCoin.

As Toiyeubitcoin reported, the OneCoin scam has earned at least $ 4 billion from investors around the world who didn't know that the token they bought was completely worthless.

Pomp and CZ are a little bit “blunt”

A number of industry celebrities are also quick to consider themselves, perhaps a little more inclined to measure, to take care of this.

Anthony Pompliano – Co-founder of Morgan Creek Digital, already tweet that the current supply of the US dollar is unlimited, he said:

“History tells us that this is not sustainable in the long run for a currency.”

Meanwhile, the CEO of Binance – CZ, gave the Fed a copy of Economics 101 in tweet His teaser:

“Have you ever heard of‘ supply, demand and price ’? What will happen to prices when the supply is infinite? ”

Bitcoin (BTC) price reacted strongly to this news as it soared past $ 6,000 and surpassed $ 6,500 at the time of writing.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

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