Reason ? 5 eyes in my pocketbook dictating what I may spend my do-re-mi on, not to exceed my carbon credit thoughtfully provided and free of charge by the central yankers.
A CBDC is just a bank account for ordinary people at the central bank. The Bank of England did that for staff for centuries until they closed them 2016.
The benefit is that there is no longer any need for deposit protection insurance, or any need to pay interest. Banks that lose deposits to the BoE will have to borrow reserves via the Short Term Repo function, rather than the BoE paying interest on reserves to banks as at present.
Has there been any research into the prospect of a CBDC breaking its peg?
If a USD digital currency started trading at .98 cents, for example, what would be the ramifications of that?
It probably would not happen unless there was a major event causing panic (9/11, first few days of COVID lockdowns, world wars, etc.). Rare events for sure - but events that occur every 10- 20 years.
That seems like a major risk that no one talks about.
The Tories have no mandate at the moment--Labour would destroy them in a general election. I don't think Sunak can implement CBDC atm without a massive backlash. They would have to crater the economy (not out of the question) and have people starving in the streets to implement cbdc.
"As soon as the majority of UK citizens realize this" --people realize it only when it's too late.
Reason ? 5 eyes in my pocketbook dictating what I may spend my do-re-mi on, not to exceed my carbon credit thoughtfully provided and free of charge by the central yankers.
Absolutely loving the content Concoda, would you be open to allowing us to share it with our 60k+ audience as well?
Sounds good. Thanks!
Great :) where would be best to contact you directly to chat about what specifically we can share?
concodapress@gmail.com
A CBDC is just a bank account for ordinary people at the central bank. The Bank of England did that for staff for centuries until they closed them 2016.
The benefit is that there is no longer any need for deposit protection insurance, or any need to pay interest. Banks that lose deposits to the BoE will have to borrow reserves via the Short Term Repo function, rather than the BoE paying interest on reserves to banks as at present.
click bait. you buried the lede intentionally
I've said this before and I'll keep saying it: When it comes to anything Crypto, I defer to P.T. Barnum...
Has there been any research into the prospect of a CBDC breaking its peg?
If a USD digital currency started trading at .98 cents, for example, what would be the ramifications of that?
It probably would not happen unless there was a major event causing panic (9/11, first few days of COVID lockdowns, world wars, etc.). Rare events for sure - but events that occur every 10- 20 years.
That seems like a major risk that no one talks about.
The Tories have no mandate at the moment--Labour would destroy them in a general election. I don't think Sunak can implement CBDC atm without a massive backlash. They would have to crater the economy (not out of the question) and have people starving in the streets to implement cbdc.