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I didn't realise it was pegged. So agreed without deep pockets it will be difficult.
by 1ba9115454 7y ago
I didn't realise it was pegged. So agreed without deep pockets it will be difficult.
- nordsieck 7y ago> I didn't realise it was pegged. So agreed without deep pockets it will be difficult. I did a bit of research just to make sure I wasn't mis-remembering > Libra would operate as a stablecoin. That means its value would be pegged to a basket of specific currencies and backed by assets denominated in those currencies. [1] I'm sure FB has good employees, but so did the Bank of England. [2] I just don't understand decisions like this. ___ 1. https://www.barrons.com/articles/facebook-libra-currency-will-be-tied-to-the-us-dollar-51569265722 https://www.barrons.com/articles/facebook-libra-currency-wil... 2. https://www.thebalance.com/black-wednesday-george-soros-bet-against-britain-1978944 https://www.thebalance.com/black-wednesday-george-soros-bet-...
- eru 7y agoLibra is pretty vague about how they would peg. What's the connection to the GBP supposed to show? You can uphold a peg given the right setup, the pound just didn't have that. (And in this case, the British economy was better off with a cheaper pound.) Eg balances in my bank account are very successfully pegged to cash. Similar the HKD has been pegged to the USD without much issue for a few decades now.