9 sats \ 3 replies \ @cryptocoin OP 27 Mar 2022 \ on: Unbeknown To Most, A Financial Revolution Is Coming That Threatens To Change Everything (And Not For The Better) | ZeroHedge bitcoin
Don’t commercial banks lose out the most in a CBDC world? Despite how crappy the system is they still have a profit and loss and shareholders to answer to. I think if we had more deregulation and banks were allowed to fail the system would be much better than it is today.
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Perhaps, but is it deregulation across the board or selectively allowing failures, leaving the broader economy to falter? Broader fiscal and trade policy also shapes and restricts competition. This has allowed for industrial groups and corporations to lever capital and acquire challengers. Allowing failures is necessary but should we not also ask whether or not competition in these services is being increased or decreased?
CCDs are being sold as a remedy to improve services, but when competitors are being pulled into the fold, incentives and opportunities to operate, innovate and develop services in parallel decrease.
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We must resist CBDCs. ✊
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