The future of central banking

Abstract

Today we celebrate the forty years of our central bank and it is worth considering whether we will celebrate the eighties or if, by then, this new central banking institution will have been supplanted, however obsolete: Central banking is one of the newest institutions of monetary regulation, but omens are all short-lived, that is my theme.
The development of contemporary financial institutions underpins the previous evil omen: certainly this kind of prophecy is not infallible, for futuristic analyses are other futuristic and reality can catch where it best suits it, rather than where my excogitation signals; that is why I do not intend to infer but, at most, to fill, that is, to trace by clues. However, I believe that I am prophesying on the basis of portentous realities, the same massive size of which will prevent them from manoeuvrability enough to separate themselves from the path that their inertia imprints on them.