Smart Money

This excellent book takes us into a world where Central Bank Digital Currencies are a fact of life. The Chinese have, inevitably, got there first and among the many implications of this new world is the long-awaited shift from dollar hegemony -- Vince Cable This book is the first comprehensive account of the large-scale impact of central bank digital currencies on the global economy and the wider geopolitical landscape. With a broad historical foundation and analytic rigour, it is a must read to understand the future of money and how it will impact all of our lives -- Lord Johnson of Marylebone Money, and how money is being used, has always been intertwined with wealth and power and an integral part of the political economy . . . This change goes well beyond the technical transformation and has economic and political consequences both nationally and internationally. In this book, the ramifications are explored in an interesting way with important food for thought -- Stefan Ingves, former governor of Sverige Riksbank Professor Rosa’s work looks at the opportunities and risks of CBDCs, but then moves further by identifying the geopolitical implications, in particular global macroeconomics and reserve currencies. Rosa’s conclusion is that either embracing or rejecting CBDCs pose immense consequences that we need to understand. This book is a great place to start understanding -- Professor Michael Mainelli, The Lord Mayor of London Smart Money is the essential book to read to understand the geopolitics of CBDCs. Central bank digital currencies, far from being just a technical addition to the list of central banks’ liabilities, have the potential to massively disrupt global trade and the financial system as we currently know them. They will be used by the geopolitical rivals of the West as a trojan horse to push further the ongoing de-dollarisation processes, and – in doing so – to redefine global geo-strategic equilibria -- Nouriel Roubini A fascinating read that demonstrates the high stakes geopolitically if the US should continue to dawdle in developing a viable CBDC -- Bill Dudley, former President of the Federal Reserve Bank of New York