cant let consumers have anything gotta protecc incumbents just rocking their rents https://twitter.com/Downtown/status/1149670615239942145 …
if it's great then great! If a creditor establishes a compelling alternative and forces interest on deposits--great!
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It’d be hella great for Libra. And if it just ended up being a pure payment solution, i reckon it’d still be a great business due to the inherent float. But it’s naive to think that Facebook gets to run a global payment service without having to comply with anti money laundering
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rules etc. that shit, won’t fly. And it’s potential to completely blow up EM-monetary policy is practically guaranteeing substantial pushback there. An SDR-esque solution for Libra‘s reserves is totally something people would want to use in EMs
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could have rather pro-cyclical effects on EM monetary policy
in the room is, Libra ain’t a unity of account. i doubt you’d pay anything in Libra, you’d pay in loc. currency instead. Imo it’d make a whole lot more sense to not base it on a SDR-esque solution, unless all other prices got converted to