United States Department of Treasury Secretary Steven Mnuchin, in a Monday press conference, attacked cryptocurrencies, including Facebook’s planned Libra. Mnuchin charged that Libra and other cryptocurrencies “could be misused by money launderers and terrorist financiers” and are a “national security issue.” Further stated Mnuchin: “Cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity like cybercrime, tax evasion, extortion, ransomware, illicit drugs and human trafficking.”
Mnuchin, however, likely has no real reason for such concerns about Libra. It looks like backers of Libra are prepared to help the US government crack down on cryptocurrencies and financial privacy.
Continue reading at http://ronpaulinstitute.org/archives/peace-and-prosperity/2019/july/16/libra-advancing-the-cryptocurrencies-crackdown-and-the-war-on-cash/
Dear @adamdick
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 questionI would like to ask you, and hopefully you would share your own opinion: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
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