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It seems like the linked regulation is not yet implemented. Further, your response to a question about a guarantee is regulation and reports? How does anyone kn
by adolph 5y ago
It seems like the linked regulation is not yet implemented. Further, your response to a question about a guarantee is regulation and reports? How does anyone know the reports of another central bank are true? When a central bank fakes numbers, what are the consequences, if any, and who adjudicates them?
Basel III was agreed upon by the members of the Basel Committee on Banking Supervision in November 2010, and was scheduled to be introduced from 2013 until 2015; however, implementation was extended repeatedly to 1 January 2022 and then again until 1 January 2023, in the wake of the Covid-19 pandemic.
- lxgr 5y agoGood point – I should have linked to the general concept instead: https://en.wikipedia.org/wiki/Basel_Accords https://en.wikipedia.org/wiki/Basel_Accords > Further, your response to a question about a guarantee is regulation and reports? How does anyone know the reports of another central bank are true? When a central bank fakes numbers, what are the consequences, if any, and who adjudicates them? Money, especially fiat money, is a social construct. The conformance with and violation of it is therefore within the domains of law and politics. > How does anyone know the reports of another central bank are true? Monetary theory is not my expertise, but I'm curious how a central bank report can even be "false" (assuming it is issuing fiat currency and isn't falsely claiming to be backed by foreign reserves or commodities, for example).
- chii 5y ago> how a central bank report can even be "false" they issued money to institutions or individuals, but pretended that they didn't in the reports, thus creating untraceable money without oversight.
- remram 5y agoHow do they "issue money" if they don't report that transaction? Do you mean cash?