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Title: Bank for International Settlements issues CBDC report Post by: SatsLife on October 12, 2020, 05:41:19 AM https://www.bis.org/publ/othp33.pdf
Recommend reading this. Quote: "By offering an efficient and convenient CBDC itself, a central bank may reduce the risk of alternative units of account dominating" Alternative units? do they mean bitcoin??? Zero-sum games in action! Thoughts? Title: Re: Bank for International Settlements issues CBDC report Post by: hugeblack on October 12, 2020, 05:59:43 AM If you read more lines, you will understand what they mean by they are talking about the monetary sovereignty of the state, and I will quote the following:
Quote Significant adoption of money not denominated in the sovereign currency could limit the impact of monetary policy or the ability to support financial stability. A risk of stablecoins, so-called “cryptocurrencies” and foreign CBDCs is that domestic users adopt them in significant numbers and use of the domestic sovereign currency dwindles. Monetary sovereignty means anything that weakens the central bank’s power to control currencies, whether it is in cryptocurrencies or foreign currencies or companies ’control of the monetary mass and its control in the national economy, which are the things that make the central bank unable to control the exchange rate and thus it is easy to manipulate the currency’s value . |