# Transition from central bank currency to government currency - Soft landing from currency issuance to borrowing to currency issuance without debt -

**URL:** <https://governance.worldlibertyfinancial.com/t/transition-from-central-bank-currency-to-government-currency-soft-landing-from-currency-issuance-to-borrowing-to-currency-issuance-without-debt/53244>\
**Category:** General\
**Created:** [April 9, 2026, 10:17am UTC](https://governance.worldlibertyfinancial.com/t/transition-from-central-bank-currency-to-government-currency-soft-landing-from-currency-issuance-to-borrowing-to-currency-issuance-without-debt/53244 "2026-04-09T10:17:36Z")\
**Posts on this page:** 1\
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**Author:** ![rui\_enomoto](https://yyz2.discourse-cdn.com/flex034/user_avatar/governance.worldlibertyfinancial.com/rui_enomoto/32/9644_2.png) [@rui\_enomoto](https://governance.worldlibertyfinancial.com/u/rui_enomoto)\
**Post date:** [April 9, 2026, 10:17am UTC](https://governance.worldlibertyfinancial.com/t/transition-from-central-bank-currency-to-government-currency-soft-landing-from-currency-issuance-to-borrowing-to-currency-issuance-without-debt/53244/1 "2026-04-09T10:17:36Z")

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Transition from central bank currency to government currency

- Soft landing from currency issuance to borrowing to currency issuance without debt -

⸻

> **Summary**
>
> 1. A summary
> 
> In the central bank currency economy, currency issuance and fiscal expenditure depend on the issuance of government bonds, and currency issuance is a mechanism that involves debt.
> 
> In the transition to the government currency economy, the government will issue currency and reduce dependence on government bonds to move to currency issuance that does not involve debt.
> 
> This transition will proceed with the management subject and accounting rules as before.
> 
> ⸻
> 
> 1. Basic principles of transition
> 
> • The management subject does not change
> 
> • The accounting and supervision system of central banks, the Ministry of Finance, etc. remains the same as before
> 
> • Accounting rules will not change
> 
> • Budget execution, auditing, report preparation, etc. also follow conventional rules
> 
> • Only the publisher will change
> 
> • Bond issuer: Central Bank → Government
> 
> • Currency issuer: Central bank currency (CBDC, banknotes) → Government currency (government banknotes, stablecoins)
> 
> • Direction of transition
> 
> • Currency is gradually transitioning from central bank currency to government currency
> 
> • No two-way exchange, and the transition is limited to the direction of government currency
> 
> ⸻
> 
> 1. Transition steps (bulla]
> 
> • Step 1: Introduce government currency to the market (a small amount at the beginning)
> 
> • Step 2: Gradually reduce the ratio of central bank currency
> 
> • Step 3: Increase the ratio of government currency
> 
> • Step 4: Minimize the central bank currency and fully transition to the government currency economy
> 
> ⸻
> 
> 1. Characteristics of transition
> 
> • Safety: System confusion is minimized to maintain management subjects and accounting rules
> 
> • Flexibility: Financial expenditure and credit creation are possible mainly in government currency
> 
> • Value stability: At the beginning of the transition, the value of central bank currency and government currency is gradually linked
> 
> ⸻
> 
> 1. Conclusion
> 
> The transition from central bank currency to government currency is a process in which the management entity and accounting rules remain the same, and only the issuer is replaced.
> 
> This transition allows you to safely transition from the traditional issuance of currency with debt to the issuance of government currency without debt.
> 
> ⸻
> 
> 💡 Based on this content, it will be easier to understand as a white paper by creating a step-by-step flow diagram + peg relationship diagram.
> 
> ⸻

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