Re:Facebook, Libra, and the Long Game
by csomar on Tuesday June 25, 2019 @06:12PM
(#20279580)
> No government is going to let FB and any coalition do an end run around their national currency and their banking institutions. They're also not going to partner with an international consortium to have them replaced with something they only partially control.
Libra is going to be backed by top currencies (probably USD, EUR, JPY, GBP). Why wouldn't the USA like that? They get to invade other countries for free.
Most countries do not like the USD. And most of them are fighting it with capital controls. The US is imposing the liberation of these economies. Through both threats and cookies. Check the FATCA for example. There is no reciprocity and yet countries are implementing it.
Libra could help the US and friends get into other countries easily.
Libra is going to be backed by top currencies (probably USD, EUR, JPY, GBP). Why wouldn't the USA like that? They get to invade other countries for free.
Most countries do not like the USD. And most of them are fighting it with capital controls. The US is imposing the liberation of these economies. Through both threats and cookies. Check the FATCA for example. There is no reciprocity and yet countries are implementing it.
Libra could help the US and friends get into other countries easily.