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- Embed this notice@Eiregoat @Humpleupagus @Floydian_Psychology @sun > Central banks don't create or distribute wealth, they distribute tokens that wealth-creators (ie. workers and property owners) are willing to trade for wealth.
Okay, fair enough; but the point stands that the central bank retains the authority it has, entirely independently of such considerations. As far as I can tell anyway. If one is necessarily obliged to use their tokens by force of law, there’s not much practical difference.
Sure, I can theoretically conceive of a number of things happening that remove them from this illustrious position of authority. I can even also see value in hedging against such contingencies. But it would actually have to happen, first, if we really want to do something different.