Libra: Facebook's Crypto Trojan Rabbit

Posted by freedomforall 2 months, 3 weeks ago to Business
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"Tom Luongo explains the salient point is Libra is another attempt by the current banking establishment to slow the flow into the world of hard money."

"It won’t, however, be a cryptocurrency in the traditional sense. It won’t have a limited supply, defined inflation rate or any commodity character whatsoever.

Proof-of-work? Phsaw! Every good Friedmanite knows that opportunity cost in creating new monetary units is simply wasted capital!

Only mouth-breathing rubes stuck in the 19th century think that’s important.

Instead Libra’s supply will be regulated just like every other fiat currency, by a central authority. Facebook already wants all your data, whether you’re an account holder or not.

Now they want to control your currency as well."
SOURCE URL: https://www.zerohedge.com/news/2019-06-18/libra-facebooks-crypto-trojan-rabbit


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