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by snarf21
1384 days ago
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The short answer is we don't. The main issue we have now is that all the transfer mechanism are private and rent seeking. Most of the world has instant peer-to-peer digital transfer of money that is immediately in your bank. The FedNow is one upcoming program to end around the private interests. People also seem to forget that banks do serve several key purposes (in addition to their anti-consumer and rent-seeking behaviors) that I don't think any central bank wants to be in the business of dealing with. |
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