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RE: Facebook's Fake Cryptocurrency

in #libra • 5 years ago

Dear @michaelmcawesome

Welcome back buddy. Didn't see you in almost 3 weeks already.

Facebook's Fake Cryptocurrency

Discussions regarding Libra and Facebook are very intense lately and I personally don't know yet what to think about it.

I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.

Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....

Important question I would like to ask you, and hopefully you would share your own opinion:

  • many people out there seem to see Libra as a threat to current monetary system. I'm one of those. However I've learned that global economy is build on debt. And all debts are in FIAT currency. So does it really matter if people use Libra to pay for their "groceries" and shop online? They still need to pay all their debts and mortgages for next 20-30 years in their local fiat currency.

For that reason alone I cannot see monetary system being changed much. Neither by libra or bitcoin or any other crypto. Debts, goverment expenses, trade oil - all of it will still require $$$.

What do you think? Upvote on the way.

Yours,
Piotr

5 years ago in #libra by
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     5 years ago 

    Hi @piotr, thanks for the question and the comment!:

    For your question, I see the Facebook people and the Federal Reserve people as members of the same club. Though there may be some infighting (who knows how staged or fake it is), the result will likely be the same.

    What is interesting is that the dollar is dying now, in front of our eyes. Companies are making their own . Whether this is a planned diversion or spontaneous action, I don't know, but it's finally coming true.

    [-]
     5 years ago 

    Dear @michaelmcawesome

    Intersting times ahead.

    Thank you for your kind and prompt reply. Appreciate it.

    ps.
    Since you're so responsive, I thought that perhaps I could share with you my latest publication and ask about your own opinion on discussed subject:
    "DID OUR WORLD LEADERS JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?"
    https://www.steemit.com/economy/@crypto.piotr/did-our-world-leaders-just-push-global-recession-away-from-our-doorsteps

    I would appreciate it greately.

    Yours
    Piotr

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