4 ms·
Nothing about Libra denounces the power of central banks. Facebook just becomes an unregulated central bank.
by DiseasedBadger 7y ago
Nothing about Libra denounces the power of central banks.
Facebook just becomes an unregulated central bank.
- buboard 7y agoif it did. it would clearly denounce their power. the US has waged many wars over the Dollar.
- dmix 7y agoI don’t know why people keep calling Libra unregulated as if some registered entity in Switzerland is going to protect them from gov scrutiny around the world. There’s no way they don’t face regulatory pressure as soon as they start operating, assuming it can even get to the size and scale where regulators even care about it.
- conanbatt 7y agoThey can't be a central bank because they are not a government.
- vageli 7y ago> They can't be a central bank because they are not a government. Isn't the federal reserve in the United States a private corporation that is not part of the government?
- conanbatt 7y agoNo, they are not a private entity in that sense. They president is appointed by the president. They are a (theoretically) independent organism.