Last active
January 4, 2016 07:29
-
-
Save jordn/8589335 to your computer and use it in GitHub Desktop.
Mark Carney on Bitcoin
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Paxo: | |
I wonder when you look at these so called “Cryptocurrencies”, | |
like Bitcoin and the like, do you ever think that the life | |
expectency of somebody in your position — the life expectency | |
of national bank governers is distinctly limited? | |
Mark Carney: | |
Urr you know I don't, actually. For this reason: | |
(and Certainly it's interesting what's happening in this regard) | |
The experience of what I would call free banking - the experience | |
in the 19th Century in the US and Canada where banks themselves | |
could issue their own notes. Was that you had much higher rates | |
of failure because almost inevitably, but not in every case, you | |
had the incentive to issue more notes in order keep things going | |
is there. Whether those notes are electronic and physical there | |
is a need to have an independent entity — this is what we've | |
learnt over centuries — with a clear remit like a 2% inflation | |
target as the Bank of England does. That is accountable to people | |
and part of that accountability is urr... meeting you. | |
Jezza: | |
Do you have any bitcoins yourself? | |
Carney: | |
I do not | |
Jez: | |
Would you like to have some? | |
Carney: | |
I can't invest any money so urr... investing my children, Jeremy. |
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment