1-Since the ECB has singularly failed to provide financial stability to the eurozone, but instead was responsible for record credit boom-busts in Ireland, Portugal, Spain etc. followed by vast unemployment and sovereign debt crises, why should the ECB be given any FURTHER powers?

@paulbuitink 2-Nobody needs CBDC. There is no demand for it. Please provide actual evidence that there is popular demand for it. (NB Demand for bitcoin is no such proof; demand for cash is no such proof, especially since CBDC is designed to abolish cash for negative rate/expropriation policy)
@paulbuitink 3-Conflict of interest. ECB is banking regulator in the eurozone. Now it is seriously contemplating compromising its umpire role as regulator by stepping into the arena and wanting to directly compete against the banks, which are regulated by the ECB (CBDC=current accounts)...
@paulbuitink 3b Isn't this anti-competitive; unfair competition? Throws new light on the ECB's past 20 years of policies, which have been aggressively anti-(small)-bank. As the ECB now admits it wants to compete with the banks, have its policies of killing so far 4,800 banks been intentional?
@paulbuitink 4-ECB claims that CBDC may increase financial stability, but it has been the ECB's disastrous policies that have caused dramatic financial instability over the entire period of the ECB's existence. Why should anyone believe the ECB's claim to aim at financial stability?...
@paulbuitink 4b- If its goal really was financial stability, why did the ECB allow 30% credit growth in Ir, Po, Sp? Why did it fob off my warnings that this would cause a crisis? Why did the ECB not implement credit guidance, as I've been saying, restricting bank credit for asset purchases?
@paulbuitink 5-The ECB says the aim of TLTRO is to 'increase bank credit for the real economy'. What macroeconomic theory is this based on? I know one: The General Quantity Theory, aka Quantity Theory of Disaggregated Credit, which I proposed in 1992. Why wasn't this used earlier then?
@paulbuitink https://t.co/BklbnXzDil

https://t.co/NFuNB237FF
@paulbuitink 6- We already have digital currencies. Namely bank digital currencies (BDC). We just need more 'good banks' doing the right thing: local community banks. All problems solved. Why abolish digital currencies, and thus banks, to introduce monopoly CBDC? Total power in hands of ECB?

More from Finance

** MEGA THREAD ON Cryptocurrencies/Blockchain**

I wanted to know the best resources to learn about cryptocurrencies and blockchain for someone with zero knowledge. I asked Twitter, and Twitter answered.

This thread is a compilation of the best resources I was recommended. 👇👇

Let's start with ** BOOKS **

The first thing you should do before you pick up any book:

Learn about Bitcoin & Ethereum by reading the respective whitepapers.

- [Bitcoin white paper](https://t.co/cErOaFn6QL) by Satoshi Nakamoto

- [Ethereum White paper] (
https://t.co/0g5kYCGJGq) by Vitalik Buterin

Even if you are not tech savvy, you can get a good grasp about how blockchain functions from these papers.

1) *The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them* by Antony Lewis

This book covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining.

It also answers how payments are made and how transactions are kept secure.

Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens.

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॥ॐ॥
अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

• These five faces are symbolic of the five primordial elements called पञ्चमहाभूत:' which makes up the entire existence.

• These are the elements of SPACE, FIRE, WIND, EARTH & WATER.

• All these five faces shine with three eyes 'त्रिक्षणै:'.