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SUMMARY:Money: a Treasury-centric view - Mario Pisani (HM Treasury and Kin
 g's College\, London)
DTSTART:20250317T170000Z
DTEND:20250317T183000Z
UID:TALK225754@talks.cam.ac.uk
CONTACT:Dr Duncan Needham
DESCRIPTION:For markets to function a medium of exchange is required – m
 oney – but what gives value to our money?  In the world of fiat money\, 
 value is not linked to an amount of precious metal\, but an ability to tra
 nsact predictably over time.  This\, in turn\, is derived from the trust\,
  stability and security of a currency.  I argue that such characteristics 
 are a function of the capacity of state institutions to safeguard them.  T
 his is because in any given currency\, the ultimate safe assets are those 
 that give you a claim on the state itself: state-issued money\, central ba
 nk assets\, or government securities. I explore the role of the Treasury a
 nd other state institutions in safeguarding the value of money
LOCATION:John Bradfield Room\, Darwin College and Zoom
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