Central banks are the government. And governments define the law we all operate in.
And as the crypto industry experiences today they can be vindictive, inconsistent, spurious, aggressive etc. And are highly skilled at resisting efforts to limit their power.
The Federal Reserve Bank of the United States is, despite the misleading name, a private corporation. [1] This is true I believe of many central banks. Nevertheless, and perhaps this is what you really meant, central banks can _act as an instrument of government_, or, more cynically, serve to enrich the political class and politically well-connected.
threeseed|2 years ago
And as the crypto industry experiences today they can be vindictive, inconsistent, spurious, aggressive etc. And are highly skilled at resisting efforts to limit their power.
chromatin|2 years ago
The Federal Reserve Bank of the United States is, despite the misleading name, a private corporation. [1] This is true I believe of many central banks. Nevertheless, and perhaps this is what you really meant, central banks can _act as an instrument of government_, or, more cynically, serve to enrich the political class and politically well-connected.
[1] https://en.wikipedia.org/wiki/Federal_Reserve_Bank#Legal_sta...
kajumix|2 years ago
sanderjd|2 years ago
TimeBearingDown|2 years ago