Re:Tech experts urge Washington to resist crypto industry’s ...
by jcbrand on Wednesday June 01, 2022 @08:08AM
(#31580654)
The second paragraph on Wikipedia:
Central banks in most developed nations are institutionally independent from political interference.
Re:Tech experts urge Washington to resist crypto industry’s ...
by qsort on Wednesday June 01, 2022 @08:43AM
(#31580992)
The paper linked in the Wikipedia citation for that line has the following in its abstract:
"The governance of central banks has two dimensions: corporate governance and public governance. Public governance is an institutional framework whereby the general public governs a central bank by and through the legislative and executive bodies in a country (...)".
"Independence of the central bank" means independence from direct intrusion by the executive branch, in the same sense the judiciary is independent from political interference.
Latinate words are not a useful cover when you're lying. All Western central banks are effectively a branch of government and are directly responsible to Congress/euparl/$local_variant, and are run by a bunch of politicians (the chair of the Fed is Powell and the president of the ECB is Lagarde, ffs).
The notion that they aren't beholden to the popular will is just ridicolous.