3 ms·
We already have a financial system structured to immensely benefit those who came up with and control currencies. With traditional currencies this is an ongoing
by mattnewport 10y ago
We already have a financial system structured to immensely benefit those who came up with and control currencies. With traditional currencies this is an ongoing benefit, not just a one time return on investment.
Governments, banks and other financial institutions that are able to create more units of a currency (by literally and figuratively printing money in the case of governments and by virtually creating money through fractional reserve lending in the case of financial institutions) immensely benefit from their monopoly/oligopoly privileges in that regard.