Macro Lit Review 2: Highlights from Late 2022 with George Selgin
Macro Musings with David Beckworth
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Is There a Central Bank Digital Currency?
ECB president Christine Lagarde said that if we rely on private substitutes, then the central banks of the world will lose their nominal anchors. This is something that your listeners will know kind of gets my hackles up because whenever central bankers and apologists talk about private currency they don't seem to know very much about it. It simply demonstrates that you can be a central banker and not know very much monetary history. But let's step back a bit. I want to say something about this anchoring thing. In the past, in the 19th century, the anchor was gold or silver for the most part. So there's no anchoring going on in that history by central banks. It
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