The Bundesbank Agrees That Facebook’s Libra Could Be A Good Idea

The Bundesbank has let us know that they’re OK with the idea of Facebook’s Libra project. With the one important caveat, that we don’t lose the benefits of money laundering regulations in the process. Which is a problem as I at least am entirely convinced that Libra is an attempt to make an end run around such regulations.

On the basics of course the Bundesbank is entirely correct:

The Bundesbank in Frankfurt, the most powerful member of the European Central Bank, said it was “fundamentally to be welcomed” that libra and its rivals would force traditional banks to adapt and overhaul their often slow and expensive payment systems.

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AOC On Facebook’s Libra – Jeez, She Doesn’t Even Know What A Public Good Is

Alexandria Ocasio Cortez is showing that she didn’t pay much attention in her economics classes – yes, her degree is in economics. For she’s trying to claim that a currency is a public good and in fact ought to be one. This being driven by a rather perverse idea that only governments should provide public goods.

No, a currency isn’t a public good. And there’s nothing at all to suggest that governments should or can be the only suppliers of public goods.…

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Seriously Folks, You Can’t Invest In Facebook’s New Libra – Not For A Capital Gain You Can’t

The Telegraph manages to ask the top stupid question about Facebook’s new Libra cryptocurrency, should you invest in it? The answer to which being obviously not, for it’s not something that’s going to have a change in capital value, indeed it’s designed not to. Thus investing in the hope of one is going to be something of a mug’s game, isn’t it?

But, you know, the numerate people and the journalists, ever the twain are split:

‘Sell Bitcoin… buy Libra’ – should you invest in Facebook’s new digital currency?

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