SoylentNews is people
SoylentNews
Submitted via IRC for SoyCow4463
House lawmakers officially ask Facebook to put Libra cryptocurrency project on hold
House Democrats are requesting Facebook halt development of its proposed cryptocurrency project Libra, as well as its digital wallet Calibra, until Congress and regulators have time to investigate the possible risks it poses to the global financial system.
Rep. Maxine Waters (D-CA), the chairwoman of the House Financial Services Committee, hinted at a move like this last month shortly after the project was announced. Waters's letter today, sent to Facebook's CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg, and Calibra CEO David Marcus, formalizes that request from a few weeks ago. Aside from Waters, the letter is signed by House Finance's subcommittee leaders.
"If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability," Water writes. "These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past."
"[Libra] could pose systemic risks that endanger US and global financial stability."
[...] "We look forward to working with lawmakers as this process moves forward, including answering their questions at the upcoming House Financial Services Committee hearing," a Facebook spokesperson told The Verge Tuesday.
(Score: 5, Insightful) by PinkyGigglebrain on Saturday July 06 2019, @12:04AM (5 children)
Private banks don't like currencies they don't control.
And a currency tied to a private company is not going to go over well with them
On a related note: "All wars are banker's wars" [youtube.com]
Though It is biased and inflammatory it does raise some interesting points that give plausible alternate explanations for some historical events. At minimum it gives you some food for thought.
And if nothing else it will give you a reason to post in response to my comment and this article. Have fun :)
"Beware those who would deny you Knowledge, For in their hearts they dream themselves your Master."
(Score: 2, Informative) by Anonymous Coward on Saturday July 06 2019, @02:25AM (2 children)
"Give me control of a nation's money and I care not who makes it's laws"
(Score: 0) by Anonymous Coward on Saturday July 06 2019, @04:21AM (1 child)
George Soros?
(Score: 0) by Anonymous Coward on Saturday July 06 2019, @06:13PM
rothchild/red shield iirc
(Score: 0) by Anonymous Coward on Saturday July 06 2019, @04:15AM (1 child)
PinkyGigglebrain:
"All wars are banker's wars": I like a good central bank conspiracy as much as the next guy, and there are be good reasons to be skeptical of the central bank, but around 6:09 the video in a single breath claims that "the media is subservient to the global worming cults wishes to conceal that the earth has been cooling for the past 16 years". WTF? An idiotic statement like that renders anything out of this idiots mouth completely null and void.
(Score: 3, Informative) by FatPhil on Saturday July 06 2019, @12:55PM
We are undergoing solar cooling, and have done for nearly 2 sunspot cycles (each being ~11 years), because the previous sunspot peak was one of the lowest in the last century, and models predict that the next one will also be below average, perhaps even lower than the last peak. This insolation change is clearly visible in some of the graphs (the ones that don't have the magic hockey-stick filter applied to them, that magic filter that makes genuinely random noise appear to have a hockey-stick shape).
However, it's a fallacy to claim that peaks and troughs of short cycles (the low maxima seems to be cyclic too, we don't have anough decades of data to be sure) are the long-term trend, which is ultimately more important.
So you're talking at odds. All you seem to care about is the long-term trend, which would make the dismissing of short-term patterns as unimportant supportable. However, that doesn't mean that the short-term patterns do not exist, which is what you are claiming.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves