Post
Topic
Board Economics
Merits 7 from 3 users
Re: ECB starts 24 month digital euro project.
by
o_e_l_e_o
on 18/07/2021, 15:58:57 UTC
⭐ Merited by amishmanish (4) ,20kevin20 (2) ,bitmover (1)
Quote
Such a scenario would make it harder for the central bank to control monetary policy, maintain financial stability, ensure low cost payments and enable financial inclusion.
"Financial inclusion"? Please. Bitcoin is the essence of financial inclusion. Don't have good ID? Turned down for a bank account. Don't have a fixed address? Turned down for a bank account. Bad financial history? Turned down for a bank account. None of that matters with bitcoin. Install a wallet, done. No fiat or CBDC will ever be as financially inclusive as bitcoin is. And "control monetary policy" is a nice way of saying "print more money". We've all seen the chart showing USD losing >95% of its value in the last 100 years. Now here's the one for EUR - https://www.statista.com/statistics/1055948/value-euro-since-2000/. A cool 30% lost since its creation ~20 years ago. As the article points out, they are worried that the majority of the population will move to using bitcoin or other cryptocurrencies, which directly impacts on their ability to bail out themselves and their friends and prop up their rigged markets indefinitely.

This has nothing to do with maintaining "financial stability", and everything to protecting their own vested interests.