0 sats \ 5 replies \ @elvismercury OP 15 Nov 2023 \ on: _Broken Money_ book club, part 4 bitcoin
In the US, we saw the limitations in the government's ability to get money into people's hands, quickly and efficiently, with the PPP program during COVID.
“PPP was essentially untargeted because the United States lacked the administrative infrastructure to do otherwise. Harnessing modern administrative systems, other high-income countries were able to better target pandemic business aid to firms in financial distress. Building similar capacity in the U.S. would enable improved targeting when the next pandemic or other large-scale economic emergency inevitably arises” (p. 259)
Such deficiencies seems like obvious arguments in favor of a CBDC. Do you think this kind of argument -- "We need a CBDC so we can get money to you better" -- will carry weight with people, given their experience?
Update: the global progress of CBDCs.
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304 sats \ 1 reply \ @k00b 16 Nov 2023
Do you think this kind of argument -- "We need a CBDC so we can get money to you better" -- will carry weight with people, given their experience?
If I didn't understand how important money is and how corrupt it has become, I'd buy this pitch.
Countries with CBDC pilots seem to sell their CBDCs using a solution-to-a-problem-we-created pattern. Like in Cuba's case, they're hyperinflating so they can't print enough physical cash to service the economy then ... it's a car ... it's a plane ... no it's our CBDC. tada
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411 sats \ 0 replies \ @elvismercury OP 17 Nov 2023
If I didn't understand how important money is and how corrupt it has become, I'd buy this pitch.
That has a bleak implication.
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21 sats \ 2 replies \ @elvismercury OP 16 Nov 2023
Update 2: @Bitman shared some intel about the IMF's CBDC playbook.
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304 sats \ 1 reply \ @Bitman 16 Nov 2023
Thanks dude.
I'm feeling a bit guilty in joining in each month (as I downloaded the currently studied book from):
https://annas-archive.org/md5/d721ffef5bd4404d8e9cf32f7dd1c85d
I thought the book might've been free - so I clicked...
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21 sats \ 0 replies \ @elvismercury OP 16 Nov 2023
I don't know Lyn, but as someone who has written stuff before, I know that having people care about what you've produced, and engage with it, is a meaningful thing. So you could consider participating in the book club to be good karma :)
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