Note from the Publisher: This morning we learned about the new Facebook page that the Federal Reserve has recently put up. Now, it’s great that there is some attempt at transparency on the part of the Fed with this new endeavor, and I would THINK they would have anticipated at least SOME blowback from visitors to the site, but maybe not. Anyway, they post press conference times, and calendar for the week, etc. so that’s all good. However, the general sentiment by visitors to the page is pretty disparaging, to say the least, and some even thank them for their policies, especially those holding cryptocurrencies, which makes this a fintech story.
“When the Federal Reserve decided to start a Facebook page, I’m sure the thinking went something like: “Hey, we should be on social media, everyone else is. What’s the worst that could happen?”
And then the worst happened.
The Fed obviously isn’t familiar with the internet, and the golden rule that comes with it: If you try to own the internet, the internet owns (or pwns) you. Just like Josh Lyman of the West Wing discovering what happens when you try and take control of internet message boards, the Fed has seen its posts bombarded with trolling comments mocking its policies and outright questioning of the existence of the Federal Reserve…….
Ahh, it all comes full circle back to cryptocurrencies. Many Facebook commentators are happy with the Fed messing up, since that could lead to cryptocurrencies taking over, since obviously, there is no middle ground between where we are with the Fed and basing our economy on a digital asset that may or may not be controlled by China. But that discussion isn’t for the Facebook comments section, so on with the bitcoin!
Actual Facebook Post: Joe Depalma – I love you guys! The more you devalue your fiat currency, the higher cryptocurrency riases and soon enough, you’ll be obsolte, along with the federal government.“