La Fed acaba de copiar un INVENTO DE BITCOIN de 2012

Kevin WS's First Speech as Fed Chair at Jackson Hole

Market Reaction to Inflation Responsibility

• Kevin WS stated that sustained inflation is the responsibility of the Central Bank, emphasizing the need for swift corrective action to avoid future issues.

• His remarks led to a rapid appreciation of the dollar and declines in both gold and Bitcoin, which fell approximately 3% and 5%, respectively.

Interest Rate Expectations

• The probability of an interest rate hike in September increased from 35% to 60% following his speech, indicating market sensitivity to Fed communications.

• However, long-term U.S. Treasury bonds showed resilience, suggesting skepticism about the Fed's commitment to combating inflation effectively.

Insights on Economic Direction

• Observers noted that both Scott Besent and Kevin WS appear aligned in their economic strategies, focusing on growth rather than cooling the economy through higher interest rates.

• At a G20 meeting shortly after Jackson Hole, WS reiterated a focus on global growth as essential for economic strategy.

The Role of Bitcoin in Financial Systems

• A recurring criticism against Bitcoin since 2009 is its inability to create credit; it operates purely on liquidity without allowing for lending or borrowing.

• Each Bitcoin transaction requires full funding upfront, contrasting with traditional banking systems where money can be moved without existing funds.

Atomic Swaps and Their Implications

• The concept of atomic swaps allows for simultaneous exchanges between different cryptocurrencies without counterparty risk, enhancing transaction security.

• This mechanism could revolutionize financial transactions by eliminating intermediaries like clearinghouses and reducing systemic risks associated with traditional banking.

Future Directions for Central Banking

• Discussions at Jackson Hole highlighted potential shifts towards adopting atomic settlement methods within central banking frameworks.

• Experts suggested that implementing such systems would necessitate a more robust central bank capable of responding instantly to liquidity demands.

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