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Perhaps, but replacing the gold standard with no backing is not then the answer. There should be hard accountability on anyone who can create money. Cryptograph
by Siira 4y ago
Perhaps, but replacing the gold standard with no backing is not then the answer. There should be hard accountability on anyone who can create money. Cryptographic measures seem promising in this regard, but I have never heard of governments funding research on limiting themselves. China has been doing some work in digitizing its money, but it seems it is making the government even more powerful.
- kd913 4y ago>Cryptographic measures seem promising in this regard Have you not seen the absolute mess of stable coins? Tether has 'printed' the equivalent of 86 billion dollars from nothing. >There should be hard accountability on anyone who can create money. The bigger issue is a lack of accountability on the political systems. Most of which have been rife with corruption. They print dollars and give it away with 0 accountability of whether economic value is returned for what is being printed. High speed rail, national broadband, national healthcare, upgraded powerlines, renewable infrastructure, desal plants. Food for kids in schools, shelter for the homeless, high rise infrastructure (rather than shitty suburban shits that bankrupt cities in 50 years). The above are effective, efficient and provide multiple dividends for the initial capital. Yet are viewed as socialist policies frankly and hence political suicide. The Government can't even recognize how cryptocurrencies are by itself a negative sum game and hence should be heavily taxed or made illegal.