HN user

gringler

7 karma
Posts0
Comments2
View on HN
No posts found.

The problem lies in the unit of account. If Libra becomes one of the global unit of accounts with own money supply outside of other monetary sovereigns reach while still keeping the impact on their economies, then Libra is a direct threat to their economies.

People intuitively know this. That's why they invented gates and exclusivity. Take e.g. rich people who want to have their own exclusive areas or ultra high cost metropoles. These act as natural gatekeepers for outsiders to keep the corruption away. At least that's what they hope for.