Skip to comments.Trump: ‘Not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra
Posted on 07/11/2019 7:35:01 PM PDT by NRx
U.S. President Donald Trump on Thursday said hes 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 Facebooks 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 Trumps twitter posts.
(Excerpt) Read more at cnbc.com ...
I may have to start using that intro: “I’m not a fan...”
In Africa people are using smart phone minutes and gigabytes as currency since they can be traded.
More crime was facilitated with $100 bills last week than with Bitcoin. Bitcoin is hardly the tool of criminals.
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U.S. Budget Gap Widened 23% in First Nine Months of Fiscal Year https://www.wsj.com/articles/u-s-budget-gap-widened-23-in-first-nine-months-of-fiscal-year-11562868054
Trump seems determined to punish the U.S. dollar https://www.marketwatch.com/story/donald-trump-seems-fixated-on-punishing-the-us-dollar-2017-02-01
Trump Wants Fed Rate Cuts, More QE https://www.bloomberg.com/news/videos/2019-04-08/trump-wants-fed-rate-cuts-more-qe-video
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I want LESS government. What government we have to endure I want it to be more responsible and leave what I've traded years of my life for, ALONE!
There's something weirdly funny about that.
I sure miss The Far Side.
There is no such thing as ‘intrinsic value’.
The word value presupposes a Valuer. The value of any good or service is subjective.
Cryptocurrency has value as a medium of exchange that cannot be counterfeited by governments.
OMG, we have three of Larsosn’s books which contain all of his work.
We laugh ourselves silly every night.
Will also hurt NK and Russia.
I don’t know if I have a Far Side book - had the desk calendars, of course.
I have a Calvin and Hobbes book or two. Gave them to my Dad (RIP). He gave them back after finishing them. So they have a double-meaning for me.
Let’s see that Facebook army try and stop from feds from taking down their HQ and crushing their business. We have aircraft carriers.
I can’t tell you how many LOLs this man has inspired.
Me miss him, but we do have his work
Oh, by the way....LOL!!!!!
“Lets see that Facebook army try and stop from feds from taking down their HQ and crushing their business. We have aircraft carriers.”
Do you think the people scared about what actual cryptocurrency represents have your interests at heart?
Facebook isn’t trying to create a cryptocurrency akin to Bitcoin (decentralized, hard money), they’re trying to create an intermediary medium of exchange so they can shave a percentage on global transactions like Visa, etc.
We always bought the calendars when they were available, but it’s nice to have ALL of them in three books. And they are giant books. He was prolific.
It is great to share good memories with loved ones.
Always remember the good memories because they mean so much.
[Always remember the good memories because they mean so much.]
I miss my parents a LOT; truth be told.
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