A Response to Bloomberg’s Crypto Editorial

I imply, to start with, politicians aren’t funding advisers and their phrases should not be handled as funding recommendation. However what does this “actual financial system” imply? Is a authorities bond a part of the true financial system, if that cash goes to repay debt from authorities spending throughout, say, Covid? Is that actual? Is investing in Coca-Cola or Raytheon, investing in the true financial system? Or are we actually simply investing in sugary drinks and missiles that do much more hurt to children than Ethereum does? Did mortgage-backed securities, pumped by a cocktail of explicit and implicit authorities ensures and regulatory subsidies, “assist the true financial system” within the early 2000s? Is not an actual “actual financial system” one which helps people and households to dwell the lives they need, and does not crypto do this fairly ably?