NO.048 Facebook's cryptocurrency Libra: Banknotes also evolved from gold deposit certificates initially issued by gold depositors. Banknotes that are currently in circulation around the world were also first deposit certificates issued by private businesses. , ・・・ Theme label: Asset owners. We propose a charitable enterprise for the Great Depression.What kind of world is GAFA looking at? Category label: Macroeconomics

Isn't the Facebook crypto currency Libra a fascinating possibility?
First of all, I think it is by no means a risky adventurous substitute.
At present, the banknotes issued as commonplace in the world were the money deposit certificates issued by money deposit companies. A long time ago, it was described in the business book of "the ruler of the circle" that I read.

A money depositor can exchange money deposit and money at any time. Sometime, the depositary was recognized as worth the same as gold, and, like gold coins, was exchanged for goods.
And, the deposit certificate of gold came to circulate as currency like gold coin.

Money depositors are private companies. The currency called banknotes was issued by a private company.
Therefore, it has already been proven in history that Facebook can issue a currency.

I think that attractive potential exists. First of all, foreign exchange gains and losses can be avoided. Since exchange gains and losses will cause various problems, it is profitable to avoid them.
More than 2 billion Facebook subscribers. More than the population of any country in the world. Libra is a currency that circulates to more people than any other currency in the world.
I think this will be a great help to Libra's stability. It is an instinct of an amateur.

The key to the success or failure of Facebook's Libra project will depend on how much credit Facebook has.
In this regard, I am sorry to say this, but I feel that I can have much greater credit than currencies issued by the majority of nations.

I think the currency issued by each government is really terribly unstable.
Is the global economy always side by side with the dangers of the deflationary spiral, or is the financial market so volatile?

Each institution is a flawed system with broken parts here and there, and operators continue to operate while repeating first aid.
The person in charge of each system thinks that their system is natural. Will they all be hard at work with all ideas based on their systems?
Because they can only reference their point of view, I think Libra's whole picture will not be understood far.

Right after World War II, Dr. Keynes, the founder of macroeconomics, proposed creating a world currency, opposed to turning the dollar into a key currency of the world economy.

Dr. Keynes, a genius, has found many problems in making the world's key currency a dollar, right?

Dr. Keynes was a genius. Dr. Naoki Komuro said, "Dr. Keynes was a stupid genius."
Dr. Keynes was not good at explaining, and nobody could understand his best theory, Komuro said.
"Don't Dr. Keynes didn't understand the meaning of what he was saying?"
I think he has done something in the field of economics that is equivalent to a major shift from statistical of mass points to statistical mechanics. If he did not understand the meaning of what he was doing, without notice, and did this, he would certainly be an extraordinary genius, right?

Different people have different abilities. There are things that can only be done by people like Dr. Keynes, who is clumsy but a genius.

Even though they are smart (no doubt they will be world-class talented people), those who are not genius have tasks that they can not do.

It may be possible for Facebook's Libra to become a key currency as it is created and managed without being intended to become the key currency of the world economy.
It would have been the same as when the depositor's certificate of depositor's depositors evolved into banknotes.

Suddenly, those who envision a key currency will fail because they must first make perfect assumptions.

If a company starts out as the local currency used by the network it offers, the chances of success are high.

Various benefits are expected. For people in small and medium-sized countries, the currency they use can be risk-distributed between their own currency and Libra.

Google, Amazon, etc. will also explore the value of Libra. Because they can understand Libra from the perspective of a super giant.
Their participation in Libra will open up new possibilities that are not yet foreseen.

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