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Interfluidity » Why is finance so complex?
- lifeisstillgood 4y agoI think this explains sovereign wealth funds - essentially replacing private sector banks main function of encouraging investment. As we move inexorably towards digital fiat currency, the role of banks as printers of money will likely vanish - and then the role as "guarntors of investment" - this necessary con trick, will become much harder. if no-one has bank accounts but instead has open wallets where each transaction is tracked on blockchain then there is nowhere to hide the fact that your money has been invested and is not sitting where you think it is the only (?) solution is to say - yes but if you want it back the government promises to give it back. ? Oddly Lincoln was a huge proponent of better banking to provide investment in small businesses.