Should Central Banks Worry About Facebook's Diem And Alibaba's Alipay?
From the Richmond Fed-- this post authored by Jonathan Chiu, Tim Sablik and Russell Wong
Source: econintersect.com
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Should central banks worry about facebook's Diem and Alibaba's Alipay?
Alibaba — an e-commerce platform in China similar to Amazon — has created its own payment system (Alipay) to provide currency-like services: facilitating transactions, supporting peer-to-peer transfers and paying interest.
Source: finextra.com
MMT And Government Finance: You Can't Always Get What You Want
-- this post authored by Michael U. Krause, Thomas A. Lubik, and Karl Rhodes During the past 25 years, low-interest rates and highly expansionary monetary policy with little apparent inflation have created the illusion that a government can simply print money to fund exorbitant deficit spending with no repercussions. This core tenet of so-called "modern monetary theory" ignores the fact that deficit spending is constrained in the long run by a government's ability to satisfy creditors. Promoters of modern monetary theory (MMT) - including a growing number of pundits and policymakers - are toy...
Source: econintersect.com