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Fedcoin: A centrally-issued alternative to peer-to-peer currencies

March 26, 2013

A member of the Federal Reserve Board of Governors left his notebook at a local gentlemen’s club. We present this incomplete memo, found in said notebook, without comment as it speaks for itself.

Memo: internal use only

Fedcoin: A centrally-issued alternative to peer-to-peer currencies

The biggest problem with the so called “virtual currencies” is that we, the Federal Reserve and our associates, are cut out of the money creation process. Unless we can all get good at Bitcoin mining soon, we’re ruined.

Since its’s hard to get Ben to even switch from his AOL account, our friends in Creative Finance have suggested a possible solution: Fedcoin.

Fedcoin is just like a Federal Reserve Note except in the virtual space. Even better, we control it.

They’re easy to make. JPMorgan, Bank Of America, etc. run a modified version of Super Mario Brothers in which Mario’s character is computer controlled. JPM’s Mario would be Mario1, BoA’s Mario would be Mario2, etc. Every time a Mario gets a coin, $100 million dollars in Treasury bills are created and $100 million goes into the account of Mario1, Mario2, or whatever bank’s Mario got a coin. Oh yeah, $100 million in debt gets put on the government’s bill. No one will ever notice.

Only banks can use Fedcoins but they can issue paper notes against their Fedcoin holdings by a factor of 10, 50 or 100 times. We’re still fine-tuning the exact figure.

As paper Fedcoins will decrease in value, people will get rid of them quickly causing a rise in currency usage. This is always a good sign of economic activity by our measure.

Fedcoin is backed by the credit and good faith of the Federal Reserve and the government of the United States of America…

Memo ends here.

From → Uncategorized

9 Comments
  1. orionblastar permalink

    China is involved. For each Fedcoin issued they will loan a Fedcoin to cover it.

    China runs a virtual Bowser with a series of castles and holds Princess Peach hostage until the debt is paid off in full and then the game is over.

    For each coin a Mario grabs China sets lose some enemies like a goomba mushroom, a turtle, or hammer brother. If a Mario is killed China lowers the Fedcoin rate in their economy and the Mario loses his Fedcoins and China gets them to pay off the debt a little. If Mario beats the level and defeats Bowser at the castle, the Fedcoin value goes up and the coins collected goes to the bank as another loan.

  2. Damn, I didn’t know I was going to have to master video games in order to understand fractional banking.

  3. phoeb permalink

    HOW CAN WE KNOW THAT THIS IS TRUE FED INFO?

  4. Pound's Ghost permalink

    I wonder if the nom-de-plume of the author – “Alex Delmar” – is a reference to the fin-de-siecle monetary renegade, Alexander Del Marr, whose writings will be of interest to anyone concerned with the commercial systems of today. In any case, if it was not clear, this “memo” is a hoax, or subtle satire at best, to subtle if you ask me and probably produced by bitcopin interests, for better or worse.

    • Sir-

      Just to clarify:

      In Mr. del Mar’s time, the renegades were the people he was inveighing against: the Rothschilds and the rest of the central banking interests that were stealing as much gold as they could and selling it back to the governments at a premium to use as money. del Mar wanted silver to be used as money, not gold. Silver was more accessible to all of us and harder to control than gold was.

      In hindsight, Mr. del Mar was on target in his assessments and predictions. The Renegades of Money and their progeny have stolen this world from us and Bitcoin will be an aid in getting it back.

      Below my sig is some info on del Mar for those unfamiliar with him.

      Thank you for your reply-

      Alex

      Alexander del Mar on Wikipedia

      Alexander del Mar’s collected works on archive.org

  5. If this is really going to be backed “by the credit and good faith of the Federal Reserve and the government of the United States of America…” then I think its safe to say it’ll be worthless..

Trackbacks & Pingbacks

  1. Fedcoin: A centrally-issued alternative to peer-to-peer currencies | money money money | Scoop.it
  2. Fedcoin: alternativa centralizada a las monedas peer-to-peer | Bitcoin en Español

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