Are the Central Banks starting to worry about the public's perception?

[Wind_FURY]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

[Jet Cash]

The elite dynasties plan for long term economic and social changes. It is obvious that this dumping of fiat currencies was planned long ago. There have been decades of using their worthless currency to buy hard assets like gold, silver, businesses, property, and even countries.

To consider your statement that "the cat is out of the bag", I assume that you mean " let the cat out of the bag". The cat is out of the bag is a nautical term, and refers to the removal of the cat o' nine tails, which was used as a punishment in the days of sailing ships. The cat was kept in a bag until punishment was about to be administered. "letting the cat out of the bag" refers to the sale of piglets in medieval English markets, and these piglets were often transported in sacks ( hence a pig in a poke ), and the seller would display the pig in the sack to a buyer. He would then have an assistant who would surreptitiously  swop the pig for a wild cat, and that would be given to the unsuspecting buyer..

To bring that up to date in the current economies, the puppet masters were not prepared to reveal the content of the currency sacks, until they had created a generically modified artificial pig, and these are now starting to appear as central bank "crypto currencies". Bitcoin is a rather small distraction in the grand scheme. It is probably the equivalent of selling unconcealed venison as an alternative to the economically unhealthy new currencies.

[NotATether]

Central bank chairmen always had the public preception of being called "job killers" because they always raise the interest rate, which causes risky businesses to bust due to the excessive interest they now have to pay. The fact is, chairmen know that's what they're going to be called when they do that, and they don't really care because they are much more worried of uncontrollable inflation happening when the interest rates are lowered, like Germany in 1923 famously, so they view inflation as something to be avoided at all costs even if it bankrupts some businesses with too much loans and politicans and think tanks get mad at them.

And even then, the average person doesn't know enough about economics to care about what central banks say. Criticism is largely limited to politicans, business leaders, organizations and other bankers. Bitcoiners are a minority that do understand this stuff and can debate about it.

Just be glad that central banks are semi-independent fom governments as some government officials would keep trying to make jobs after each crisis while ignoring the resulting inflation.

[Wind_FURY]

To consider your statement that "the cat is out of the bag", I assume that you mean " let the cat out of the bag". The cat is out of the bag is a nautical term, and refers to the removal of the cat o' nine tails, which was used as a punishment in the days of sailing ships. The cat was kept in a bag until punishment was about to be administered. "letting the cat out of the bag" refers to the sale of piglets in medieval English markets, and these piglets were often transported in sacks ( hence a pig in a poke ), and the seller would display the pig in the sack to a buyer. He would then have an assistant who would surreptitiously  swop the pig for a wild cat, and that would be given to the unsuspecting buyer..

No, "the cat is out of the bag", Bitcoin is invented, "the genie is out of the bottle", and there's no way to push it back in.

Its invention should open our minds on what defines money as "money". It is not what only the Central Banks issues anymore. I believe there's currently a paradigm shift.

[Jet Cash]

It is a myth that central banks and governments don't like inflation. It means that it doesn't cost as much to repurchase their massive debts, and the assets that they bought with the debt are worth more in real terms. Inflation hits savers and the working man, not the bankers.

The genie may be out of the bottle, but it is still locked in the box the bankers created at its inception. The box is the 21 million cap. and the 10 minute average block generation time. It is obviously easy for them to control and manipulate Bitcoin by accumulating large reserves of the coins. This is great for us, as we who understand it, can capitalise on it as an appreciating asset. However, it means that the ensuing volatility will frighten off most of the global population, who will use the products of the central banks.

[fiulpro]

What they worry about is the perception of a limited amount of percentage. Which includes: Investors, business man etc. Rest is something that comes along the way. If they would have thought more about th general public , we won't need Invention like bitcoins right now. It is important to maintain a public image for them for sure ! For quality purposes, at the same time elections might be near ! Here toh have the reason.

Firstly the banks are benefited from inflation , especially the central one's. I do believe we have yet to see a good deed from their side to even make a good statement for them. It's a web of corruption!

[teosanru]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

I don't think so anyone is afraid of anything. There have been pretty tough times for the monetary systems in the past like the 2008 depression or the LIBOR fraud technically it makes no sense as the amount of people doubting the system aren't too much moreover these people opposing don't really have a plan or a complete system as a replacement. Just saying that bitcoin will be an alternative currency doesn't solves the issue of bringing the entire ecosystem on it. So as long as there is no completely robust idea for replacing the existing system. They aren't really afraid of anything.

[bitgolden]

I do not think so, nobody liked them to begin with, people who are educated and snobbish are not really liked by right, the things they both want are basically same but they can't sit down in a table and chat and have common stuff most of the time, also left hates them for the lobbying and illegal stuff that they do, so banks were never really beloved part of any nation in the world to start with.

However one thing is for sure, they do pay the right people to continue what they do and that means the whole world could hate them and they could still continue to be banks the way they are without changing. Only way it could ever change would be if a huge leftist would be elected in a nation, aside from that there is no way they would change since they bribe the right people.

[Coyster]

Even if the central banks aren't worried, the public's opinion is definitely changing. There have been many reasons for that to happen this year alone and looking to the coming years were inflation could be at the peak, Bitcoin and other anti-inflationary assets like gold are already being purchased by the masses and corporations that formerly kept their assets solely in fiat, to act as a hedge against a constantly devaluing fiat currencies.

The central banks and their directors may not be worried, they have a way to always make the system favor them. TBH I think it's the 'common man' that should actually be worried about their funds, and have to choose the option of anti-inflationary/decentralized/alternative assets such as btc and gold to retain a pretty stable value of their funds.

[avikz]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

You have quoted a 4000+ words article so apparently no one has patience to read it in full. Is there any particular section you want us to read that supports your statement?

I don't think banking system is worried at all about the emergence of cryptocurrencies. Because their lobby is super strong and has been deeply rooted within society since hundreds of years. A mare cryptocurrency that emerged just 11 years ago, can't destabilize the foundation that banking system has built around the world.

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

This statement doesn't come from a worried mind. Rather I see a bit of politics involved - the politics of earning mass credibility! It's a duty of Central Banks to ensure that the benefits of a monetary policy reaches to the mass. It's good that they have realized that it is not happening in reality! It's a game to win back trust in general and not related to cryptos at all. At least I don't feel so!

[BIT-BENDER]

Maybe some day I would walk into a bank and we only talk about crypto-coins and -crypto-investment but now the banks and central banks run in fiat/paper money.
There are threats to the crypto-coin dominance.
+ Those that sells off as though it was a mistake having it.
+ Those that are careless and have good crypto-coin lost away for Good with no hope of getting it back.
+ Government
+Mis- readers,concepters.

[Darker45]

They are the maker of rules. But they are now trying to be more grounded. I don't know if it's just under the leadership of Lagarde that the ECB and IMF are trying to get down from their ivory towers and try feel the practicalities of the hard world but I noticed that the lady is very much vocal about the rising clamor for a new form of currency; more convenient, easier to use, globally-handy, and so on. This is referring to no other than a currency which is digital, one which perfectly fits the digital world that we are fast turning into.

In a speech in Singapore during its Fintech Festival, Lagarde confronts the reality that "the fintech revolution questions the two forms of money we just discussed—coins and commercial bank deposits. And it questions the role of the state in providing money."^[1] And she even continued to say that "Bank deposits too are feeling pressure from new forms of money."^[Ibid.]

So I guess, to a significant extent, the central banks are worried not just about how they are perceived by the public but more so of their relevance in this digital age. I guess they are now feeling that they are losing a considerable amount of their relevance in the modern world, and that without properly acting on it the larger public might end up fully embracing a new currency which is neither in any way sanctioned by them nor the state.

[1] https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency

[batang_bitcoin]

People are getting curious for every single thing that happens. Before, there's no worry about words and system that they are doing to the people but this time, it's just to happen that many became curious what really happens to the economy and how it happens. Finding the roots of all cause, they're all going through the bank and it's huge contribution to the cycle. Regardless of people's curiosity, I don't think they are worried if they can easily plan out speeches and explanations that will clear the minds of curious thoughts.

[Wind_FURY]

It is a myth that central banks and governments don't like inflation. It means that it doesn't cost as much to repurchase their massive debts, and the assets that they bought with the debt are worth more in real terms. Inflation hits savers and the working man, not the bankers.

 

They don't care. They want to maintain control over the monetary system, which is threatened, because they can't shut Bitcoin down. Paradigm Shift.

The genie may be out of the bottle, but it is still locked in the box the bankers created at its inception. The box is the 21 million cap. and the 10 minute average block generation time. It is obviously easy for them to control and manipulate Bitcoin by accumulating large reserves of the coins. This is great for us, as we who understand it, can capitalise on it as an appreciating asset. However, it means that the ensuing volatility will frighten off most of the global population, who will use the products of the central banks.

It may not be Bitcoin, but the idea that a non-Central-Bank-issued-money-genie can't be forced back into the bottle.

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

I don't think so anyone is afraid of anything. There have been pretty tough times for the monetary systems in the past like the 2008 depression or the LIBOR fraud technically it makes no sense as the amount of people doubting the system aren't too much moreover these people opposing don't really have a plan or a complete system as a replacement. Just saying that bitcoin will be an alternative currency doesn't solves the issue of bringing the entire ecosystem on it. So as long as there is no completely robust idea for replacing the existing system. They aren't really afraid of anything.

OK, but in case you want to opt-out, and have a back up, you know what to HODL.

[hatshepsut93]

If you ask average people on the street, what do they know about central banks, they'll only have very vague understanding of what they are doing. If the crisis will worsen, people won't be blaming central banks, they'll blame the ruling people, especially the leader, because it's the person responsible for everything. So, I don't think that central banks are panicking right now, they probably just want to explain what they are doing, because there will be more intervention now, and more people might be curious what's going on.

[Mauser]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

The problem with the ECB is that interest rates are so low for 10 years. For many young people it's the only thing they know, cheap money is available everywhere without much collateral and saving money in a bank account is kind of useless. The inflation rate is much higher than any interest you receive from the bank, with the bank fees on top of that you are screwed. The central bank is motivating everyone to go into debt, or at least spend their money today instead of saving it for tomorrow. Japan is in this trap much longer than Europe already with no way out. How is this serving the people? It's not helping us to print money every month.

[abhiseshakana]

The problem with the ECB is that interest rates are so low for 10 years. For many young people it's the only thing they know, cheap money is available everywhere without much collateral and saving money in a bank account is kind of useless. The inflation rate is much higher than any interest you receive from the bank, with the bank fees on top of that you are screwed. The central bank is motivating everyone to go into debt, or at least spend their money today instead of saving it for tomorrow. Japan is in this trap much longer than Europe already with no way out. How is this serving the people? It's not helping us to print money every month.

Low interest rates, even zero or negative, are a sign of the right time to print money. This is usually accompanied by a weakening of the national currency and central bank intervention in the market to stabilize the value of a country's national currency.

Debt has become a lifestyle for the majority of people both for consumption and for investment. Even today, many non-bank institutions offer easy loans with an instant approval process through checking personal data and loan records from central banks. Even someone feels proud if they can get a loan from a bank, which means their track record is good. Debt creates opportunities but debt also causes many other bad things, including forcing to buy something you want not what you need by going into debt.

[Wind_FURY]

If you ask average people on the street, what do they know about central banks, they'll only have very vague understanding of what they are doing. If the crisis will worsen, people won't be blaming central banks, they'll blame the ruling people, especially the leader, because it's the person responsible for everything. So, I don't think that central banks are panicking right now, they probably just want to explain what they are doing, because there will be more intervention now, and more people might be curious what's going on.

But ask random people if they trust the government, and the monetary system, and I believe the smarter portion of those asked would answer "NO".

Plus there are more and more people learning more about "the banksters" because of the internet. Like us for instance.

[Lucius]

Debt has become a lifestyle for the majority of people both for consumption and for investment. Even today, many non-bank institutions offer easy loans with an instant approval process through checking personal data and loan records from central banks. Even someone feels proud if they can get a loan from a bank, which means their track record is good. Debt creates opportunities but debt also causes many other bad things, including forcing to buy something you want not what you need by going into debt.

Debt creation has become a way to control not only individual people but entire countries. A man who has a bank loan for say 30 years is someone who is very easy to control in every aspect, he does not complain about bad policies, does not cause problems at work and is a good soldier who obeys all orders, and in the evening in bed he complains to his wife how hard life is.

If we were to put a country run by the World Bank or the International Monetary Fund in the same context, then it is very easy to see why debt is a very powerful weapon in the hands of financial organizations. There is a good movie that deals with the role of banks in today's society by sending the message that although most people think that profit comes first, it is debt creation that gives banks not only profit, but also ultimate control.

[coolcoinz]

If you ask average people on the street, what do they know about central banks, they'll only have very vague understanding of what they are doing. If the crisis will worsen, people won't be blaming central banks, they'll blame the ruling people, especially the leader, because it's the person responsible for everything. So, I don't think that central banks are panicking right now, they probably just want to explain what they are doing, because there will be more intervention now, and more people might be curious what's going on.

But ask random people if they trust the government, and the monetary system, and I believe the smarter portion of those asked would answer "NO".

Plus there are more and more people learning more about "the banksters" because of the internet. Like us for instance.

Ok, the majority doesn't trust the banks, but what does the majority use every single day? Fiat money, bank accounts, credit cards. The majority takes loans, keeps money on savings accounts, pay social secutity. They don't trust politicians but they vote for them. Trust or lack of it doesn't change much these days.