{"id":13931,"date":"2019-06-24T20:51:34","date_gmt":"2019-06-24T20:51:34","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=13931"},"modified":"2019-06-25T07:08:20","modified_gmt":"2019-06-25T07:08:20","slug":"foreign-policy-facebooks-new-currency-has-big-claims-and-bad-ideas-by-me","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2019\/06\/24\/foreign-policy-facebooks-new-currency-has-big-claims-and-bad-ideas-by-me\/","title":{"rendered":"Foreign Policy: Facebook\u2019s New Currency Has Big Claims and Bad Ideas \u2014 by me"},"content":{"rendered":"

My latest for Foreign Policy<\/a> is up at last!<\/p>\n

My thesis is that Libra is an attempt to fulfill the ideological aims of Bitcoin as seen by rich anarcho-capitalists who resent the very concept of regulation \u2014 by issuing their own private money in quantities large enough to affect the system.<\/p>\n

These guys are absolutely<\/em> big, arrogant and dumb enough to do another 2008 financial crisis in their own right, ‘cos they’re sure they’re the smartest guys in the room.<\/p>\n

I was also leaked a smoking-gun quote from Carlos Maslat\u00f3n of Xapo, on Libra’s explicit plans to set up as a shadow bank. “We will create a mirror banking system using your money” is a translation of his original words, “Vamos a crear un sistema bancario reflejo usando tu moneda,” in this audio<\/a> from a WhatsApp chat group.<\/p>\n

$5 and up patrons would have seen an early version of this article on Saturday. If you like my work, please sign up for the Patreon<\/a> \u2014 and you’ll get the occasional preview of this sort!<\/p>\n

(I’m also getting more stuck into the ICO book, and you’ll get early versions of book chapters as well \u2014 considerably expanded and revised from the blog post versions.)<\/p>\n

\"Become<\/a>

Your subscriptions keep this site going. Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"

My latest for Foreign Policy is up at last. Here’s audio of the Carlos Maslat\u00f3n quote.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[1341,444,1150,1328,1291],"class_list":["post-13931","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-carlos-maslaton","tag-facebook","tag-foreign-policy","tag-libra","tag-xapo"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/13931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=13931"}],"version-history":[{"count":9,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/13931\/revisions"}],"predecessor-version":[{"id":13942,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/13931\/revisions\/13942"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=13931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=13931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=13931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}