Comment by mrkramer
2 months ago
Tbh it's better that the state controls citizens' payment infrastructure than the private commercial banks.
2 months ago
Tbh it's better that the state controls citizens' payment infrastructure than the private commercial banks.
A hybrid (as is happening today) is very feasible, that is, banks are subject to state laws, regulations and certifications. In turn, the state, through a central bank, offers them and their customers guarantees and warranties.
If my bank goes under, €100K of my money is insured by the central bank for example.
And if a Central Bank goes under, banking is the least of your concerns.
I wouldn't be too sure about that.
its a great idea as long as the state is benevolent. MAGA showed just how fast that can change...