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I’m talking about the ledger between sovereign governments, you’re talking about the ledger within a single sovereign country. Two completely different things.
by jotakami 7y ago
I’m talking about the ledger between sovereign governments, you’re talking about the ledger within a single sovereign country. Two completely different things.
- RobertoG 7y agoThe ledger between sovereign governments is the BIS: https://en.wikipedia.org/wiki/Bank_for_International_Settlements https://en.wikipedia.org/wiki/Bank_for_International_Settlem...
- jotakami 7y agoNot exactly. The BIS is owned by 55 central banks... which implies that it is subordinate to them, not the other way around. It is a way for banks to lend reserves to one another, basically. So it is a ledger, for sure, but a debt-based on that exists only for easy transaction settlement and not as the “scorecard” of wealth that a true ledger would imply.