Del191229
He bangs the drums
- Aug 21, 2018
- 33,006
- 83,152
If something like Libra comes out and succeeds...well...god help us all. Especially when it will roll out straight away with 10's of 1000's of point of sale terminals ready to go. The aim of crypto is decentralisation not that centralised garbage coin.
If that happens it is just the penultimate stage of the final takeover of the state by the forces of capital. To a large extent they've taken control of the political system. If they replace the government as issuers of currency for day to day, then the final, and inevitable, step is privately owned armed forces that can take on and defeat the state. Once that happens - global Somalia looms.
Old mate KGB siloviki Putin has a point when he says liberalism is obsolete, largely because liberalism got drunk on its own success and forgot the market only works when it is regulated ... as Adam Smith pointed out.
If and when Libra is used to create debt, as it will, grim times.


