Wednesday, July 10, 2019

Powell gets a bit scaredy pooh

Jerome Powell: Facebook's Libra poses potential risk to financial system

Libra is not risk, Libra save a ton of money on compliance costs. Facebook can move their serves to a host company with no such regulation.  Powell has no access to the end user for regulation because Powell has not yet done his deal with Tim, so Powell has no compliance contract to offer AppleID users.  Central banks need a clue, we are expanding shadow banking into the sandbox at a phenomenal rate.

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