by Summary:
NZZ, August 17, 2017. HTML, PDF. The Vollgeld initiative may point to a problem but it does not propose a viable solution. Even with Vollgeld, the time consistency friction with its Too-Big-To-Fail implication would persist. A more flexible, liberal approach appears more promising. It would give the general public a choice between holding deposits and reserves. Financial institutions and central banks around the world are pushing in that direction.
Topics:
Dirk Niepelt considers the following as important: 100% money, base money, Central Bank, Contributions, Deposits, Legal tender, Reserves, Vollgeld
This could be interesting, too:
NZZ, August 17, 2017. HTML, PDF. The Vollgeld initiative may point to a problem but it does not propose a viable solution. Even with Vollgeld, the time consistency friction with its Too-Big-To-Fail implication would persist. A more flexible, liberal approach appears more promising. It would give the general public a choice between holding deposits and reserves. Financial institutions and central banks around the world are pushing in that direction.
Topics:
Dirk Niepelt considers the following as important: 100% money, base money, Central Bank, Contributions, Deposits, Legal tender, Reserves, Vollgeld
This could be interesting, too:
Dirk Niepelt writes The New Keynesian Model and Reality
Dirk Niepelt writes “Augenwischerei um SNB-Ausschüttungen (Misconceptions about SNB Distributions),” NZZ, 2024
Dirk Niepelt writes Bank of England CBDC Academic Advisory Group
Dirk Niepelt writes Panel on “Will the digital euro take off?,” CEPR, 2023
NZZ, August 17, 2017. HTML, PDF.
- The Vollgeld initiative may point to a problem but it does not propose a viable solution.
- Even with Vollgeld, the time consistency friction with its Too-Big-To-Fail implication would persist.
- A more flexible, liberal approach appears more promising.
- It would give the general public a choice between holding deposits and reserves.
- Financial institutions and central banks around the world are pushing in that direction.
Aus Sicht des Volkes, welches sichere Zahlungsverkehrskonten will und Banken nie mehr mit Steuergeldern retten will, überzeugt die Argumentation von D. Niepelt überhaupt nicht!
Es scheint mir ein verzweifelter Versuch zu sein, die Initiative zu verwässern und eine begriffliche Verwirrung anzuzetteln.
Der Vollgeld-Initiativtext ist inhaltlich viel klarer, eindeutiger und zielführender.
Das Volk wird sich nicht durch pseudowissenschaftliche Konfusion verwirren lassen – sorry, ich bin klar für das Original!
Ich finde es sehr schade, dass sich die Nationalbank auf die Seite der Eliten und Privatbanken, und nicht auf die Seite des Volkes stellt.