News Bitcoin - Could Bitcoin Affect Emerging Market Monetary Policy?
Federal Reserve Bank of St. Louis Vice President, Dr. David Andolfatto, is optimistic about Bitcoin, as an alternative currency could impose limitations on the ability of governments to raise revenue through money creation.
“In some countries”, the former professor says, “the ability for a central bank to print money is a significant source of revenue for the government. It’s not the case in the U.S. or developed countries. But in underdeveloped countries, where you don’t have a well-developed tax system, and still a relatively large fraction of the population living in the countryside, an alternative to collecting taxes is through the inflation tax. That is, to print money”.
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Topic: [2017-02-13] Could Bitcoin Affect Emerging Market Monetary Policy? (Read 198 times)
February 13, 2017, 02:09:27 AM
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