A loose monetary policy that is aimed at boosting use of idle resources won't work. Idle resources only become profitable and efficient when we have enough real savings. Unfortunately, easy money policies destroy real savings.
The interest control policy is ultimately an admission of “fiscal dominance.” That is, it is increasingly difficult to deny that the state's budget situation is what dictates monetary policy. Now, monetary policy must first serve the interests of the regime itself.
What matters for real economics is real savings, not increases in consumer spending driven by money printing. The best way to get an increase in savings is to decrease both money pumping and government spending.
Opponents of bitcoin now claim that bitcoin mining causes global warming and is an environmental threat. But the boom-bust cycles caused by central banks and their fiat money are far worse than any carbon footprint bitcoin can produce.
There is much talk these days about Fed "transparency" easing the effects of monetary policy. But it is not possible to deflate the present gigantic monetary bubble without a severe economic bust, and a policy of transparency employed by the Fed cannot prevent the inevitable bust.