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> What does this have to do with Libra? I bet most Americans are in favor of stopping Libra; aka Facebook's private currency. > Central banking is a huge part
by vageli 7y ago
> What does this have to do with Libra? I bet most Americans are in favor of stopping Libra; aka Facebook's private currency.
> Central banking is a huge part of international economic policy and stability. There's a reason private money was outlawed in the 1900s.
Private currencies seem to be legal so long as they aren't viewed by the government to be a method of avoiding taxes. Can you point me to some more information about this? Everything I've read seems to point to private currencies being legal in the United States at least (aside, I am aware of the liberty dollar case in the US. The government's angle was that it too closely resembled US currency iirc).
- Vervious 7y agoYes, you are right that they are legal, I misremembered. Good catch. The spirit of my comment shouldn't change though, if I instead refer to the establishment of a U.S. dollar. That being said, the fact that you have to pay rent with legal tender in states like CA goes a long way in regulating private currencies.