Crypto Market is a “Giant Garbage Dumpster”: Minneapolis Fed President

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The crypto bashing encyclopedia now has a new soundbite addition, this time from Minneapolis Federal Reserve President Neel Kashkari calling cryptos a “giant garbage dumpster.” I Won’t Gift My 1-Year-Old Daughter Bitcoin Speaking at the Montana Eco 2020 event in Montana on Tuesday (February 11, 2020), Kashkari argued against the entire utility proposition of cryptos. Even as an investment asset, the Minneapolis Fed President said he wouldn’t gift his 1-year-old daughter bitcoin, opting instead for Treasury bonds. According to Kashkari, cryptos are a giant garbage dumpster with the U.S. dollar being the beautiful bride for the savvy investor. Doubling down on the ‘dollar good, cryptos bad rhetoric,’ Kashkari quipped: The reason that the dollar has value is because the US government has a legal monopoly on producing the dollar. In the virtual-currency and cryptocurrency world, there are thousands of these garbage coins out there. Literally, people have been fleeced for…

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