Ex-
UK PM Liz Truss Supports
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Warns Against CBDCs
Ex-UK PM Liz Truss Supports Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Warns Against CBDCs
by Jake Simmons
6 minutes ago
in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News
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In an interview with Peter McCormack, the longtime Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin advocate and host
of a podcast that originally focused solely on Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin before expanding to
cover UK politics, former UK Prime Minister Liz Truss expressed her support
for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and expressed deep reservations about central bank• Экономика » Финансы » Государственный банк » Центральные банки digital
currencies (CBDCs). Truss, who briefly served as the UK’s Prime Minister and
Leader of the Conservative Party• Объект организация » Организации по алфавиту » Организации на Ко » Консервативная партия Великобритании
• Политика » Политика Великобритании » Политические партии Великобритании » Консервативная партия Великобритании
• Великобритания » Политика Великобритании » Политические партии Великобритании » Консервативная партия Великобритании, spoke candidly about monetary policy, the
Bank of England’s independence, and the potential implications of CBDCs.
Pro-Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Against CBDCs
During the interview, Truss explained her position on digital assets,
emphasizing their capacity to “take power away from central banks.” She
stated: “I am a supporter of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. I think they’re a
good thing. I think they help take power away from central banks… I’m very,
very worried about anything like a central bank• Экономика » Финансы » Государственный банк » Центральные банки digital currency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта completely. I
think they give the state huge amounts of power.”
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She expressed concern over unchecked influence wielded by central banks,
particularly the Bank of England, which she argued remains “unaccountable.”
Referring to quantitative easing (QE) and inflationary pressures, Truss noted:
“We’ve had huge levels of inflation, we had QE that went on for far too long,
asset price spikes… and the result was inflation. We were told beforehand that
it was going to be transitory and it wasn’t transitory, even though the
lessons had all been learned before.”
According to Truss, these policy decisions—combined with the lack of
accountability—have resulted in significant financial strain on British
households.
McCormack pressed Truss on whether a central bank• Экономика » Финансы » Государственный банк » Центральные банки is truly necessary. She
underscored that if the UK decides to maintain a central bank• Экономика » Финансы » Государственный банк » Центральные банки, it must address
its governance: “That’s an interesting question. Well, if we do have one, it
ought to be accountable. So at the moment, we’ve got the worst of all
worlds—we’ve got an unaccountable central bank• Экономика » Финансы » Государственный банк » Центральные банки .”
Truss criticized the transfer of power from the Treasury to the Bank of
England dating back to former Chancellor Gordon Brown’s move to grant the bank
operational independence. She suggested that a lack of robust oversight led to
policy missteps with long-term consequences. “What Gordon Brown did in making
it independent… you can see the results. We’ve had QE for far too long…
supporting very, very lax government spending policies with printing money.”
Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Reserve Plan Called ‘The Dumbest Idea Ever’ By Fed,
Expert Unveils
Truss made it clear she sees potential danger in an official central bank• Экономика » Финансы » Государственный банк » Центральные банки
digital currency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. Highlighting her primary misgiving, she said: “I think they
give the state huge amounts of power and what we know is overweening state
power is not a good thing… it also feels like part of the surveillance State.”
Her remarks echoed broader concerns within the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта community, where
critics warn that a CBDC could enable governments to monitor and control
individual transactions more directly than with cash or decentralized
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.
While reflecting on her tenure in government, Truss revealed that delving into
monetary policy matters was discouraged: “When I was at the Treasury and tried
to ask about monetary policy, I was told it wasn’t our responsibility, it was
the responsibility of the Bank of England … during the leadership campaign in
2022 where I flagged up all the policies I was going to pursue, I said that we
should look again at the Bank of England’s mandate.”
She insisted that a broader debate on the mandate and accountability of the
Bank of England is crucial to ensuring more robust monetary policies.
According to Truss, the Chancellor of the Exchequer should not shy away from
engaging on such policies, despite resistance from the Bank or accusations of
threatening its independence.
“Whenever an organization justifies itself by saying it’s independent, that in
my view is a red flag that there is a problem. So all of this should be talked
about: the international monetary system, the independence of central banks,
the role of cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, Truss remarked.
At press time, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price was at $94,079. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin faces resistance at
the 0.236 Fib, 4-hour chart | Source: BTCUSDT on TradingView.com
Featured image from YouTube / Peter McCormack, chart from TradingView.com