A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.
I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.
A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.
I don't think I've been too optimistic. The government believes the contraction will be around 1.5 per cent, as the central bank said. However, we're waiting to see the Commission estimate.
A Central Bank official said that Q-coin did not affect the renminbi; it adds vibrancy to the economy.
Bitcoin's revolution: an impossible-to-counterfeit digital store of value that can be used as money, that has no sovereign, or central bank involved, that can be sent anywhere instantly at virtually no cost, is irresistible. Anyone who uses it is converted.
Cryptocurrencies like Bitcoin are already trustless - any machine can accept it from any other, securely. They are (nearly) free. They are global - no central bank required, and any machine can speak the language.
We are on a crazy strategy with our central bank. It's good to have alternative ecosystems. It's not that the dollar will go away, but we need other options if it crashes or wildly inflates.
Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.
