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RE: Are Governments Going Extinct?

in #libra5 years ago (edited)

They will make examples of a few, but it is too late to stop the bitcoin train. If they try to ban it, and it skyrockets in price, then the USD loses value. If they ban it and the price collapses, then you have a tax deduction. Either way they lose.

The Libra consortium will have an estimated net worth around 20 Trillion. The US annual budget is around 4 Trillion and running a negative estimated net worth. Debtors like the US government cannot be masters. So who's calling the shots? Those with the money.

Andreas Antonopoulos recently said that AOL introduced us to the wrong kind of internet, now it appears that Libra will introduce us to the wrong kind of crypto. But if the Libra consortium is foolish enough to base it's backing on a "basket of national fiat", at some point, they will have to switch to a "basket of cryptos", else watch their Libra token plummet in value.

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I find the whole "basket of fiat" thing funny.

Why not just say you have the collateral to buy back your own shitty product if the price wanes. Why does it matter what the collateral is? These corporations are rich enough to buy out their own product by 100 fold.

Kinda make you wonder if they have plans to make money off of "going bankrupt".

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