From the Inner Circle (USA) – Today, we examine a different type of war – the war on banks. Yes… you read that right. We’ve talked a lot about the war on cash that central banks are waging. This is a new front in that battle. Leading the charge is Ben Broadbent, the deputy governor for monetary policy at the Bank of England and one of the world’s most influential central bankers.
Earlier this month, in a speech at the London School of Economics, Broadbent floated the idea of creating a “central bank digital currency.” Think of it as a “bitcoin for central banks.” It’s a truly radical idea… and one that has profound implications for the banking system… and bank stocks.