Facebook Libra is the new 9/11 for the United States of America (U.S), or so it appears after the Brad Sherman statement.
On, Wednesday, Libra was expressed to be more dangerous than the 9th September 2011 incident caused a worldwide panic, by the California representative from the democratic party, Brad Sherman’s when questioned about Facebook’s new digital currency that is to act as a stablecoin and provide transaction freedom.
It seems as if Osama Bin Laden is no math for the horrors, the Libra stablecoin will bring upon the world. Brad Sherman went on with the discussion regarding Libra to state that Osama Bin Laden had an innovative thought to fly two airplanes in two buildings and Libra might just be the next plane that’s going to crash in the ‘economic stability building.’
Too much freedom on the transaction side will lead to distasteful outcomes. With that being said, David Marcus, the Calibra project head, was again on the hot seat, trying his best to answer questions from Maxine Waters (D-California). Maxine Waters also expressed her concerns that if Libra was to have its way with the economy, the world would see the economy collapse with destabilized currencies and governments crumbling before it.
It will be pretty easy for drug dealers, money launderers, sanction evaders, and tax evaders to keep their money off the records and muster as much wealth, their hearts desire.
All while watching the world burn before their eyes, while Mark Zuckerberg was bashed as well for not respecting privacy concerns (the privacy debacle). The people will hold Facebook’s owner responsible if some terrorist attack occurs in the future after when Libra is a reality– all expressed by Brad Sherman.
The social media giant will have the upper hand in the crypto market if the Libra debuts in 2020, but will it? Once the dust settles down, we’ll all get to know.