"Inflation and cryptocurrencies, the first challenge for central banks".
In the daily newspaper l'Opinion, dated 30/03/2022, Jean-François Serval published an article on the current issues surrounding the return of inflation. In this short article, Jean-François Serval shows that inflation can in no way be a valid response to the debt problem. For the Chairman of Groupe Audit, the only effective response to the debt crisis is to increase production, and therefore the wealth produced. To achieve this, he calls for a renewed role for central banks: "Central banks," he argues, "must regain their role as guardians of the monetary system, whereas over the last few decades the development of the financial economy, driven by massive securitisation transforming assets into financial instruments, has created money beyond all limits. The stakes are all the higher, he points out, given that the fundamentals of central bank policy are being challenged more than ever by the recent explosion in crypto-currencies.
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