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67 sats \ 1 reply \ @Scoresby 2h \ on: Stablecoin Adoption Could Stifle Central Bank Control, IMF Warns econ
“Significant growth in stablecoins could cause retail deposit outflows, diminishing an important source of funding for banks and leaving them with more volatile funding overall,”
Last I checked banks are businesses. They make money doing what they do and are not a service provided out of charity. Why should we feel obligated to maintain their sources of profit?
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0 sats \ 0 replies \ @SimpleStacker 54m
Many members of the political class believe that banking stability is one of the chief ends of public policy. How this monolithic belief came about, I'm not sure, but it's been operational for at least decades, as evidenced by the response to the 2008 financial crisis.
I suppose it may also be unfair to lay the blame solely at the feet of the policymakers. Members of the public would not be willing to accept the short term pain that banking failures would entail.
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