Post
Topic
Board Economics
Re: Are the Central Banks starting to worry about the public's perception?
by
avikz
on 01/10/2020, 19:08:45 UTC
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.

Quote
"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!