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Mark Gilbert

Central Banker Sees the Future of Money in Bitcoin

Maybe digital currencies can solve the Zero Lower Bound problem?
These aren't real, you realize?

These aren't real, you realize?

Photograph: KAREN BLEIER/AFP/Getty Images

Want to know what central bankers will do in the next few years? There's a Bank of England website page you need to read. But you might need a suspension of disbelief to absorb its conclusions.

In 2008, as the financial crisis really began to bite and the U.S. started its slide into recession, the Federal Reserve provided a handy playbook on the maneuvers it would use to try and rescue the economy. Ben Bernanke's 2002 speech "Deflation: Making Sure `It' Doesn't Happen Here," told you everything you needed to know about zero interest rates and quantitative easing, and how they would save the world.