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Sure it'll be nice to make easy money off the interest on deposits. And it'll be nice to make money on the analytics that can be run on all the worlds' transac
by bmdavi3 7y ago
Sure it'll be nice to make easy money off the interest on deposits. And it'll be nice to make money on the analytics that can be run on all the worlds' transactions. Great.
But the biggest pay off is that once consumers buy into Libra as a thing on its own, the policy can be changed to no longer link it to any basket of currencies, and it can then be issued without that annoying and expensive currency-buying-thing. Just pure profit.
What am I missing?
- i_am_nomad 7y agoYou’re missing the part where Treasury agents swarm the Libra offices and arrest everyone for various flimsy charges. If there is one single thing that enrages the government more than anything else, it is denying it revenue.
- buboard 7y agolibra is in switzerland
- mr_toad 7y ago> it can then be issued without that annoying and expensive currency-buying-thing. Just pure profit. https://en.wikipedia.org/wiki/Seigniorage https://en.wikipedia.org/wiki/Seigniorage You can only do so much of that before you debase your currency.