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When a third party controls your currency, they have some very effective levers over you. Let's not even enter the beneficent/maleficent scenario of the said 3r
by sfusato 4y ago
When a third party controls your currency, they have some very effective levers over you. Let's not even enter the beneficent/maleficent scenario of the said 3rd party. That's what I'm referring to in regards to sovereignty.
I'm sure you've heard of these sayings:
He who controls the money supply of a nation controls the nation.
Give me control of a nation's money and I care not who makes its laws.
- crazygringo 4y ago> That's what I'm referring to in regards to sovereignty. But that's not what sovereignty means. I don't know how to make that any clearer. Yes there are levers, but that doesn't make Croatia any less sovereign. Sovereignty is a word with an established, defined meaning -- it's completely and totally separate from economic influence, which is what you seem to be referring to.
- jessaustin 4y agoI don't know how to make that any clearer. My suggestion would be to provide a reasonable definition of the word "sovereignty" which logically excludes the benefits or harms that a central bank may impose on users of its currency.