“There is an infinite amount of cash in the Federal Reserve.” – Neel Kashkari, President of the Federal Reserve Bank of Minneapolis
March 22, 2020
When a regional Fed President brags in March about having “an infinite amount of cash,” he toxically undermines the virtue of thrift, dangerously decouples risk-taking from the consequences of risk-taking, and epitomizes the influence of absolute, centralized power.
- an excerpt from the 2-minute version of Stone Ridge 2020 Shareholder Letter https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter