Money is only useful if people trust that they’ll get what they expect for it. A government can make a nationalised bank take a decision like that, but who’s going to use that currency if the government just snaps its fingers and makes 100 trillion yuan of everyone’s money disappear?
Chinese government owns their banks tho.
Money is only useful if people trust that they’ll get what they expect for it. A government can make a nationalised bank take a decision like that, but who’s going to use that currency if the government just snaps its fingers and makes 100 trillion yuan of everyone’s money disappear?