“It is better to have a job than protected savings.” -C. Lagarde
In a recent paper, the European Central Bank asserted that Bitcoin functions as an unfair savings mechanism. This assertion is not surprising, especially considering past remarks by the ECB President.
In an earlier video, Lagarde highlighted the priority of maintaining employment over safeguarding savings. She expressed her support for the monetary policies of her predecessors, which focused on fostering economic growth and employment, even if it meant potentially lower returns for savers.
This viewpoint aligns with the ECB's current position on #Bitcoin. The central bank appears to regard personal savings as secondary to its broader macroeconomic goals. By labeling Bitcoin as unfair, the ECB is essentially suggesting that a decentralized, non-government-controlled savings option undermines its ability to manage the monetary system in pursuit of employment and growth.
What the ECB seems to overlook is that Bitcoin provides individuals with a means to preserve the value of their hard-earned savings, independent of central planning commissioners. By criticizing this, the ECB is revealing its preference for maintaining its own power and influence over the financial independence of citizens. In the end, the ECB's opposition to Bitcoin appears to stem more from a desire to safeguard its monetary authority than from any genuine concern for fairness or the public good.
Blocktime: 866 955
v/byte price: 20 sat/vByte
Hash Rate: 671.44 EH/s
🧡
#asknostr #nostr 💜
BankSith
npub1xu…c97xc
2024-10-23 06:44:37
Author Public Key
npub1xuc7z6wskwqk7jj2ntyyce42gg757n4q7794dgwljpsfhpd7pzzshc97xcPublished at
2024-10-23 06:44:37Event JSON
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"content": "“It is better to have a job than protected savings.” -C. Lagarde\n\nIn a recent paper, the European Central Bank asserted that Bitcoin functions as an unfair savings mechanism. This assertion is not surprising, especially considering past remarks by the ECB President.\n\nIn an earlier video, Lagarde highlighted the priority of maintaining employment over safeguarding savings. She expressed her support for the monetary policies of her predecessors, which focused on fostering economic growth and employment, even if it meant potentially lower returns for savers.\n\nThis viewpoint aligns with the ECB's current position on #Bitcoin. The central bank appears to regard personal savings as secondary to its broader macroeconomic goals. By labeling Bitcoin as unfair, the ECB is essentially suggesting that a decentralized, non-government-controlled savings option undermines its ability to manage the monetary system in pursuit of employment and growth.\n\nWhat the ECB seems to overlook is that Bitcoin provides individuals with a means to preserve the value of their hard-earned savings, independent of central planning commissioners. By criticizing this, the ECB is revealing its preference for maintaining its own power and influence over the financial independence of citizens. In the end, the ECB's opposition to Bitcoin appears to stem more from a desire to safeguard its monetary authority than from any genuine concern for fairness or the public good.\n\nBlocktime: 866 955\nv/byte price: 20 sat/vByte\nHash Rate: 671.44 EH/s\n🧡\n\n#asknostr #nostr 💜 https://video.nostr.build/9d7843de81f406ce316659cee4d5d9457203614a59d059ffa55bac70287cdac4.mp4 ",
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