2013-07-23 WSJ: Larry Summers ‘Failing Up’ to the Fed

zeroday

donator

Activity: 784

Merit: 1000

Quote

Mr. Summers is a master at “failing up.” Screw up at one job, get a better one. He’s now considered a front-runner to replace Federal Reserve Chairman Ben Bernanke in January.

I hope he will become a chairman and finally shatter the FED

Keep buying bitcoins.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

There is an ironic symmetry here in that the Winklevoss twins were appealing to Larry Summer's (then chair of Havard) better sensibilities early on in the case against Zuckerberg and The Facebook.

http://www.foxnews.com/tech/2011/07/20/former-harvard-president-larry-summers-slams-winklevoss-twins/

Now Winklevi are open supporters of bitcoin, a competitor to Federal reserve paper/digital sub-prime backed dollar products ... and Zuckerberg is pimping out his user's data/secrets for the NSA, (apparently whilst harbouring contempt for anyone stupid enough to use the service) ... the world turns.

Pass the popcorn.

Arvicco

hero member

Activity: 574

Merit: 501

Please bear with me

http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-288243/

Bitcoin reference at the very end, in a relevant context too:

Quote

Meantime, Cameron and Tyler Winklevoss are starting a bitcoin investment fund. Bitcoin is a virtual currency for Internet transactions. Some say it’s a new model for money. Others call it just another Ponzi scheme. But one of bitcoin’s appeals is that it can’t be manipulated by the Fed.

The bitcoin play makes me afraid that once again, the Winklevoss twins may understand something that Mr. Summers does not.

Topic: 2013-07-23 WSJ: Larry Summers ‘Failing Up’ to the Fed (Read 912 times)