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Sri Lanka is on the fast-track to the Korea path, with interventionists getting their wish using a US-built central bank with false monetary policy independence and extreme stimulus to target an output gap.
Sri Lanka is now suffering the worst currency crisis in history of the island's soft-pegged central bank which was set up in 1950 abolishing a currency board, dooming the country into exchange and trade controls as well as trade and exchange controls.
Monday marked the 30th anniversary of the Estonian Kroon (EEK) becoming legal tender in Estonia, which it remained until 2011, and a number of key framers of the currency transition – a success despite initial opposition from the International Monetary Federation (IMF) – gathered at the Bank of Estonia (Eesti Pank) for a conference commemorating the event.
Twelve weeks and $1 trillion ago, Kanav Kariya had a question for thousands of people gathering in Spain to glorify cryptocurrencies: "Who the f**k is Jump?"
As recent events in Germany (and elsewhere) have shown, even strong proponents of a cashless economy have an interest in safeguarding the future of cash, if only for the sake of financial stability.