Yes, distributism has been a founding principle of post-war europe. Not just in Germany but in all of western europe. That said, the governance of Libra is set

Yes, distributism has been a founding principle of post-war europe. Not just in Germany but in all of western europe. That said, the governance of Libra is setup with distributism in mind. Facebook has set it up explicitly so they don't control the currency, a founding group of 100 corporations will control the reserve (one vote each) and they are explicit about accepting new qualifying members. If it takes off, it will attract a lot more corporations/institutional investors leading to free market control. However, I don't see the point why governments are afraid of it because the monetary policy mechanisms requires a fractional reserve banking system to enact its effects. Libra is fully asset-backed and wouldn't have an impact on any monetary policy. I think what most people don't understand is that monetary policy doesn't work by devaluing cash, it works by making debt cheaper leading to companies end individuals to take out more debt to invest and as a consequence push up aggregate demand.