Facebook's digital currency dealt another blow

Facebook’s Libra cryptocurrency must not go ahead until the firm proves it is safe and secure, according to a report by the G7 group seen by the BBC.


I guess, there weren’t so many discussions about Bitcoin when it appeared as we have about Libra today :smiley: There are too many sceptics who think that it is a scam. Personally I prefer waiting. I didn’t believe in Bitcoin much, but now I use it, so who knows what will happen to Libra. Anyway, thanks for sharing this article!

Isn’t part of the idea behind Libra as a “stablecoin” is not to peg it 1 for 1 to the US dollar but to be more like Special Drawing Rights and peg the Libra coin to a basket of currencies and/or commodities?

That would be waving a skull and cross bones flag as a direct threat and challenger to the US dollar as the world reserve currency. That in conjunction with Facebook’s large international user base.

Amazon is signing a contract with the CIA to cloud store all the CIA’s info and Amazon is planning to move into the policing and security sectors too. Jeff Bezos is going to grow even richer by helping serve the government of the empire domestically and internationally. If Jeff Bezos challenged the power of the US Government directly then things would work out differently for him.