Bitcoin ETF Vs FIAT “Holy of Holies”
“The concept that government has to manage economies using paper money is the Holy of Holies among Ph.D. economists” https://www.cryptocoinsnews.com/analyst-bitcoin-etf-stands-no-chance-chance-sec-committed-protecting-fiat-currency/
A Bitcoin ETF Stands No Chance with SEC Committed to Protecting Fiat Currency. The Winklevoss twins never had a chance of getting the Securities and Exchange Commission (SEC) to approve their bitcoin ETF, according to one observer. Rafi Farber, writing in calvinayre.com, claims the SEC is more committed to protecting the interests of big banks, which are invested in paper currency, than in looking out for investors.
Michal Piwowar, who holds a Ph.D. in economics and heads the SEC, is typical of Ph.D. economists in being a “paper money fanatic,” according to Farber. These academics spend their time trying to understand human behavior using differential calculus, a tool that cannot accurately predict human behavior.
If calculus could predict human behavior, the Ph.D. economists would all know when to buy low and sell high and become millionaires, Farber noted.