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Building on the bitcoin model, central banks are planning to produce their own "digital currencies". Removing any and all remaining privacy, granting total control over every transaction, even limiting what ordinary people are allowed to spend...
Building on the bitcoin model, central banks are planning to produce their own “digital currencies”. Removing any and all remaining privacy, granting total control over every transaction, even limiting what ordinary people are allowed to spend their money on. From the moment bitcoin and other cryptocurrencies first emerged, sold as an independent and alternative medium of exchange outside the financial status quo, it was only a matter of time before the new alternative would be absorbed, modified and redeployed in service of the state. Enter “Central Bank Digital Currencies”: the main...
Do We Need âPublic Moneyâ? - Speech By Jon Cunliffe, Bank Of England, Deputy Governor, Financial Stability, Given at the OMFIF Digital Money Institute, London Date 13/05/2021 The Bank of England has issued banknotes for over 300 years. Jon Cunliffe talks about future of money in the UK in an increasingly digital world. Speech I want to talk today about whether we need ‘public money’. I should make clear that I am not talking here about public spending but rather about the form of money itself: by ‘public money’ I mean money issued by the state to its citizens for everyd...
Sun 13 Dec 2020 04.15 EST They can be seen for miles around, a monumental relic of Victorian industry amid the stunning beauty of the North York Moors. But almost 100 years since the Rosedale iron kilns were last fired, they are in danger of being lost. The 16 brick arches at the end of a 12-mile railway track, hand-built by navvies and cut into valley walls, are crumbling after decades of being battered by wind and rain. Now the North York Moors National Park Authority is preparing to launch a campaign to raise £1.6m to secure this piece of industrial heritage for generations to come.