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> Over a century of monetary policy has shown that decentralization isn't aligned with political or economic goals. Or rather it has shown that decentralizatio
by janeroe 5y ago
> Over a century of monetary policy has shown that decentralization isn't aligned with political or economic goals.
Or rather it has shown that decentralization isn't aligned with the political or economic goals of those who conceive the monetary policy.
- duped 5y agoWhich often aligns with the people that elect them. Central banking fixes serious flaws in money systems, and provides levers to mitigate disasters caused by external forces. Compare it to a boat. Central banking gives you the ability to steer, sure someone might be bad at it and lead you into dangerous waters. But decentralized currency is like shooting the helmsman and ripping out the rudder because someone did a bad job of it once.
- TimJRobinson 5y agoDecentralized currency is the lifeboat if the captain goes mad and decides to steer into iceberg territory. It's harder to steer, but better than sinking in freezing waters (hyperinflation).