Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

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Ad Orientem
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Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by Ad Orientem » Thu Jul 11, 2019 9:39 pm

U.S. President Donald Trump on Thursday said he’s “not a fan” of cryptocurrencies, and suggested that Facebook may need a banking charter if the company wants to launch the digital token Libra.

In a series of Twitter posts, Trump said cryptocurrencies are not money and “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations,” said the president.

Trump is not the only one who has criticized Facebook’s plan to introduce Libra. Federal Reserve Chair Jerome Powell, French Finance Minister Bruno Le Maire and Bank of England Governor Mark Carney are among government leaders and central bank chiefs who have spoken up against Libra.

Facebook declined to comment on Trump’s twitter posts.
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https://www.cnbc.com/2019/07/12/trump-c ... libra.html
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Smith1776
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Re: Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by Smith1776 » Fri Jul 12, 2019 1:01 am

As much as I dislike Facebook (and yes I know the new consortium is not facebook), I hate the world's entrenched banking cartels even more.

Trump doesn't know what he's talking about.

You know what also facilitates unlawful behaviour? The U.S. Dollar -- more than any other currency in the world.
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Re: Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by Maddy » Fri Jul 12, 2019 6:40 am

A digital currency controlled by an intelligence operative whose unabashed goal is centralized control over every aspect of your life is the banking cartel's wet dream.
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Re: Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by shekels » Fri Jul 12, 2019 10:30 am

Smith1776 wrote:
Fri Jul 12, 2019 1:01 am
As much as I dislike Facebook (and yes I know the new consortium is not facebook), I hate the world's entrenched banking cartels even more.

Trump doesn't know what he's talking about.

You know what also facilitates unlawful behaviour? The U.S. Dollar -- more than any other currency in the world.
Without Cash you will surely lose the rest of you Liberties/Privacy.
Now if the way the Laws that govern money and how money is created were changed, that would be a step in the right direction.
Cryptocurrency is not stable Money.
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Smith1776
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Re: Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by Smith1776 » Fri Jul 12, 2019 12:05 pm

I see what you guys are saying, but I'm sticking with my guns on this one.
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Re: Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

Post by dualstow » Fri Jul 12, 2019 3:42 pm

Mark Cuban (yeah, I know, I know) thinks Libra is a bad idea. Not necessarily for the U.S., but for nations run by more..problematic governments.

https://www.cnbc.com/2019/07/12/mark-cu ... stake.html
Vanguard treasury money market still paying 2.17%
TODFTHR
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