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That reminds me: why didn't we have any public debate about electronic money? We just let the Big New York Banks slide credit cards in, despite the badness of
by bediger 16y ago
That reminds me: why didn't we have any public debate about electronic money? We just let the Big New York Banks slide credit cards in, despite the badness of the format, and indeed, the whole system.
I guess we're all going to find out how a privatized monetary system works, at least on the consumer level.
- mseebach 16y ago> I guess we're all going to find out how a privatized monetary system works, at least on the consumer level. That doesn't make sense. First, general credit cards has been around for 50 years, more limited predecessors for closer to 100 years. Second, credit cards are decoupled from the monetary system, they are merely vessels for transferring money.