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I don't have any great love for Facebook (except for the Oculus Quest VR product) but in general I like the idea of a digital currency backed by a Special Drawi
by mark_l_watson 7y ago
I don't have any great love for Facebook (except for the Oculus Quest VR product) but in general I like the idea of a digital currency backed by a Special Drawing rights kind of mixed bag of currency (I think Libra would be about 1/2 US dollars, and the other 50% split amount other currencies).
As a US citizen, I realize that we won't control the reserve currency forever so it seems wise to slowly ease into all international capable transactions to being done in a basket or currencies. As a US citizen, I would like the US dollar to be a fairly large percentage of the basket. I think this is really something that we need major cooperation between major economic power countries to make this transition as smooth and gentle as possible.
If there were multiple digital currencies backed by real currencies like like Libra, that would probably be for the best.
The goal is to reduce transaction fees and friction in international trade (and all trade).