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You are rejecting the negative connotation of the word “print” but the fact is that the bank can do a financial operation that would be illegal for a non-bank a

• nickik 8y ago
  Well. Sure, but that the government who specifically wanted it like that because that has been the traditional role of banks and everything needs to be regulated. The government went out and gave licences to do that stuff to banks. If you don't like that only some group of people is allowed to do something, then why not allow everybody to do it. Now, of course some will say, that would be bad. Fair enough, but then again, you need to select the group that you will give that privilege too. Right now that is banks. I would be perfectly happy to adopt a legal system where banks are not subject to extraordinary rules let the market decide who's debt is worth taking as 'money' but apparently most people in the world don't want that. So really that argument leads you nowhere. The question what is the goal of this initiative? For all the problems they have (or think they have) there is a pretty easy solution that one could adopt that require this essentially random solution.