Competition for the insidious corporate vultures at the Federal Reserve? Bankers are parasitic beings devoid of compassion, but are the people creating this new “banking” system any better? I wouldn’t be surprised if some of the same shareholders of the Fed are also investors in this economic venture by Facebook to grab control over a huge portion of the global economy.
It’s foolish to accept a medicine that might be worse for you than the illness.
From the article:
‘For Libra to scale as a national medium of exchange, its governance had to be centralized rather than “distributed.” But Libra’s governing body is not the sort of global controller we want. Jennifer Grygiel writes:
“Facebook CEO Mark Zuckerberg … is declaring that he wants Facebook to become a virtual nation, populated by users, powered by a self-contained economy, and headed by a CEO – Zuckerberg himself – who is not even accountable to his shareholders….
“In many ways the company that Mark Zuckerberg is building is beginning to look more like a Roman Empire, now with its own central bank and currency, than a corporation. The only problem is that this new nation-like platform is a controlled company and is run more like a dictatorship than a sovereign country with democratically elected leaders.”’