Ep. 56 - The Truth About Libra - Facebook's Cryptocurrency
The Truth Quest Podcast
English - July 27, 2019 13:14 - 19 minutes - 22.6 MB - ★★★★★ - 23 ratingsPolitics News History Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Facebook’s recent congressional testimony before the House Financial Services Committee regarding their proposed cryptocurrency, Libra, caught my attention. It got me wondering: where in the Constitution does it grant the federal government the power to regulate a cryptocurrency or a social media platform? I posed that question on the Truth Quest Facebook Fan Page and immediately started researching this episode.
The truth is that cryptocurrencies in general and the Libra specifically pose a threat to many entities - central banks, power hungry government officials, and too-big-to-fail banks.
In this episode I explain what Libra is and examine the threat posed by it and other cryptocurrencies. Along the way we discuss the benefits of cryptocurrencies, congressional overreach, sound money, central banks and the concept of private money.
Show Notes:
G7 Urges Strict Libra Regime, Eyes Minimum Tax
Alternative Currencies Such as Bitcoin are a Valuable Insurance Policy Against Feckless Government
Does Libra Threaten Monetary Sovereignty?
Fee.org
Why This Economist is Skeptical of Facebook's Grandiose Claims About the Libra
Why Facebook's New Cryptocurrency is No Threat to Bitcoin
Mises.org
Libra: Competitor to Inflationary Central Banks
Facebook's Fake Money
It's No Bitcoin: Facebook's Libra Currency Tied to Government Currencies
https://mises.org/wire/idea-alternative-currencies-going-mainstream
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The video of this episode is available on Rumble, Thinkspot, BitChute and Brighteon. Check out short highlight videos of each episode on Instagram.