The currency emission of Perfect Money, as the electronic payment system
According to a number of financiers, in the context of financial institutions and market’s globalization, money relations evolve in the direction of the main points of the theory of “permanent growth of competitive money offers” Nobel laureate FA Hayek. Private money as he thought is such money which is a legitimate means of payment existing without any government involvement. He came from a conclusion that the state monopoly money emission as legal tender is a relatively new phenomenon in the history of finance: “The history there is no justification for the current government monopoly on emission of money. There are no arguments in favor of the fact that money that government gives us would be better than any other money. Once the privilege money emission was first presented as a royal prerogative, it has been always defended, as the right to release money was needed to finance government activities. And the main aim was not to give us good money, but for to give to a government access to resources from which it can draw the necessary money, using the printing press”. There two common questions about electronic currency of Perfect Money: can the emission of electronic money increase the value of money in the country and whether this process can lead to higher inflation. Continue Reading »
