Obviously because that is how the system was designed. What did you expect? Without the ability to express negative interest rates the only way for the system to continue is through grifting.
I mean think about for a second. Positive rates mean more want to borrow than others want to save.
Negative rates mean less people want to borrow than others want to save.
If you don't think borrowers have a right to repay their debts then what exactly did people expect to happen? Are we supposed to blame debtors for their systematic inability to pay even though we decided they don't have the right to repay?
> Without the ability to express negative interest rates the only way for the system to continue is through grifting.
I mean think about for a second. Positive rates mean more want to borrow than others want to save.
I'm not sure what you mean. The European Central Bank has dabbled with negative interest rates. So have others.
Anything you can express in a system like Taler you could conceivably replicate in existing financial systems, it always just comes down to political will.
I mean think about for a second. Positive rates mean more want to borrow than others want to save.
Negative rates mean less people want to borrow than others want to save.
If you don't think borrowers have a right to repay their debts then what exactly did people expect to happen? Are we supposed to blame debtors for their systematic inability to pay even though we decided they don't have the right to repay?