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Unintentionally Hilarious Monetary Quote of the Day

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11/10/2013
From a Chicago Fed paper on crypto-currencies:
Although some of the enthusiasm for bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration, or recourse.
HT: ZeroHedge, via Tom DiLorenzo.

Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and W. W. Caruth Chair and Professor of Entrepreneurship at Baylor University's Hankamer School of Business.

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