”The Fed is basically Dogecoining the U.S. dollar. There’s a benefit to scarcity that Dogecoiners don’t get—nor does the Fed.”
– U.S. congressperson Warren Davidson
, speaking at Bitcoin 2021
in Miami, referring to daily creation of 10,000 new units of the ‘started as a joke but now we seem to be stuck with it’ meme coin Doge
. While ostensibly a partisan dig at Joe Biden’s economic stimulus intended to score points with the assembled crypto boosters, Davidson’s comments underscore the deep strangeness of any
framing of economic scarcity or value at the moment.