Central banks, as monopolist issuers of state-based fiat (mandatory) money, operate not to help economies but to assist fiscally profligate governments in funding themselves cheaply and surreptitiously. Lately, in response to the spread (and threat) of cryptocurrencies, central banks have pursued plans to issue their fiat monies in digital form. Per the BIS, 86% of them are actively researching central bank digital currencies (CBDCs), 60% are experimenting with it, and 14% have pilot projects. Fans claim CBDCs will help central banks better manage the payments system, inflation, and the economy. But nefarious motives are also likely, having to do with “Modern Monetary Theory” and more direct means of financing profligate.
Join us for Morals & Markets on February 24th at 5pm PT / 8pm ET to discuss "Central Bank Digital Currencies: What's the Point?" After Dr. Salsman's 20-30 minute topic introduction, there will be another 60-minutes available for discussion, questions, and debate!
For additional information and in preparation for the event, please review the ABSTRACT which includes links to recommended reading.