The Effect of Internet Value Transfer Systems on Monetary Policy
نویسنده
چکیده
Abstract: The arisal of experimental systems to transfer value (digital cash) over the Internet is of interest to monetary policy circles. These systems claim to turn the International Financial System back to the days of free banking, with uncontrolled and rampant issue of currency by private banks. This paper argues that, in actuality, Internet cash issuance will not be a strong force, neither against the tools of monetary policy, nor for its own mercantile purposes.
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