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They controlled their own currency before. It’s their choice to peg it’s value or not. To eliminate the ability to print money or do any other kind of interven
by azinman2 5y ago
They controlled their own currency before. It’s their choice to peg it’s value or not.
To eliminate the ability to print money or do any other kind of intervention is like cutting off your legs for no reason. It seems to me that they’re simply doing this a) as a stunt, and b) as a way to get around remittance fees. Except accepting bitcoin means you have a current with no stability, no recourse when anything goes wrong, and one that thru deflation will only make everything more expensive over time but favor the initially rich.
- gbersac 5y agoMoney is trust. For a government to print money, he need people and worldwild financial institutions to trust the government. I don't think anyone trust the CAR government, so they can't print money.
- kspacewalk2 5y agoThere are in fact poor countries with competent central bankers, so the task of making a stable fiat currency is not as insurmountable as "become rich first".
- azinman2 5y agoSo what money do they use?