<i>In contrast to modern central banking, it does not prioritize exchange rate stability.</i><p>What the fuck are you talking about? Central bank money <i>has</i> free floating exchange rates. The reason the value of central bank money is not typically bouncing up and down like crazy is because of the size of the markets, which cannot be upended by one whale with a billion dollars and a head full of magic.<p>If you’re setting out to debunk myths, you have to get the facts right.