“Throughout the world, central banks have woken up to the fact that their wholesale interbank clearing and settlement systems can be bypassed by mobile-to-mobile payments. Indeed, who will get the seigniorage, or the right to interest on the monetary creation, which traditionally has belonged to the state and been delegated to the central bank?  Of course, we used to believe that central banks could only print money when it is backed by gold or promises to pay by the government. Today, advanced central banks are printing money faster than ever.”

http://www.scmp.com/comment/insight-opinion/article/1319243/cashless-trend-redefining-money-and-central-banks-role

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy