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A token represents something else. For this reason, we see the Fed being the biggest issuer of tokens in the history of the world. This is a point that is missed on most people.
What does this represent? USD. The Fed does not create USD, that is not in their power. So they have to create tokens to make people think they print USD.
In this video I discuss how HBD has more use cases than what the Fed prints. Individuals or businesses outside depository banks are not allowed to hold what the Fed creates.
The Fed creates nothing more than inter-bank tokens that are moved back and forth between primarily 3 banks.
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