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Why NZ central bank quip about people trusting printed money is dangerous

printing money reserve bank new zealand

During a parliamentary committee hearing, Adrian Orr, Governor of the Reserve Bank of New Zealand made a joke. 

“It’s a great business to be in central banking. You print money and people believe it. Touch wood,” said Orr. The Committee laughed.

During the hearing he also touched on cryptocurrency and stablecoins. As a result, the hearing attracted more attention than usual.

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Image Copyright: New Zealand House of Representatives