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Yes, Paul Krugman actually said this.

"Fiat money is backed by men with guns; Bitcoin is not. So why should this thing have any value?"

 Here.

Comments

NCSDad said…
Was he demonstrating a lack of understanding of what money is, a keen understanding of how money is perceived today or simple cheerleading in his role as political economist for the Dems?
December 13, 2013 at 5:06 PM
mynym said…
"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." --Paul Krugman
December 13, 2013 at 11:52 PM
NCSDad said…
In case you need a depressant. We seem to be doing it again. Maybe Steve can understand this better than I ...http://marginalrevolution.com/marginalrevolution/2013/12/from-the-comments-negative-t-bill-rates-of-return.html#comments
December 15, 2013 at 7:36 AM
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