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> I think this crisis is the strongest yet reason to push for CBDCs as only a central bank can fully guarantee a deposit This makes zero sense. A CBDC doesn't
by nkuttler 4y ago
> I think this crisis is the strongest yet reason to push for CBDCs as only a central bank can fully guarantee a deposit
This makes zero sense. A CBDC doesn't have a stronger "guarantee" than normal central bank money, yet it has all kinds of negatives like total surveillance and control.
- mejutoco 4y agoExactly. And regarding > only a central bank can fully guarantee a deposit The buck stops at the government, as we are seeing with changing laws to allow Credit Suisse acquisition or by Biden and European representatives statements abou "doing whatever is needed" or similar.
- HWR_14 4y agoJust to be clear, those are two different things. The Biden administration's response is using powers granted to the executive branch explicitly to save banks. The Swiss government seems to be modifying their laws to save CS (by getting it acquired).
- jpmattia 4y ago> The buck stops at the government, as we are seeing with changing laws... Not to mention the majority party in the US House is threatening default.
- guessbest 4y agoThe party in the House always threatens to not raise the debt ceiling if the POTUS is of a different party. It has been like this for decades.
- ddulaney 4y agoIt didn't really happen as much over the last 4 years. As they say, the deficit hawk is a seasonal bird.
- danaris 4y agoI think if you actually look at the history of this, you'll find that it's almost always the Republicans who threaten not to raise the debt ceiling. Certainly, all the notable debt ceiling crises listed here[0] were instigated by Republican Congresses. [0] https://en.wikipedia.org/wiki/United_States_debt_ceiling https://en.wikipedia.org/wiki/United_States_debt_ceiling
- jjeaff 4y agoNo, it's specifically the Republican party that threatens to default on the debt ceiling if the president is a Democrat.