Attack on our freedoms – movement of citizens and financial turnaround calls Libra-ban

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Juli 27, 2019

In one of the EU Commission and the ECB addressed a Petition to the citizens ‚ movement Financial calls for a ban on Facebook’s currency project Libra. Concerns the Initiative, among other things, in the areas of data protection and consumer protection, as well as with a view to the international financial stability. The authors cite a recent survey by the pollster YouGov. According to the survey, 71 percent of all German Libra are currently in a critical condition.

By David Barkhausen
On the 27. July 2019 BTC$9.476,00 -2.99% part Facebook Twitter LinkedIn xing mail

Facebook’s controversial currency project Libra, is not as easy. These days it seems to hail of criticism on the part of the worldwide policy, banks and the monetary authorities is the only way. In unison, especially the demand for decisive government regulation of the Stable Coins from all of the roofs seems to be heard. The German citizens ‚ movement financial turn suggests now, however, an even sharper tone.

Together with the Brussels Finance Watch Initiative of the European Commission and the European Central Bank (ECB) calls in a Petition, a proposal for an outright ban of the Facebook plans. According to the financial turnaround, this would constitute „an attack on our monetary system and our individual freedom“.

In the outgoing Commission President Juncker and Draghi as the future President of the Leyen, and Lagarde’s letter sure of your judgement of Libra:

criticism and a bit of regulation is not enough. It should be lost no time to […] Ensure that the private currency, the Libra will be banned before they come on the market! You have Facebook in the barriers!

keep in mind the citizens ‚ movement has, especially in the areas of data and consumer protection, and points to Facebook’s often controversial privacy policy.

in Addition, warns the Organisation before that of the issuing group involving deprivation of liberty as a private money monopoly in the future, completely control of the state. So Facebook itself could be to the Central Bank and Libra for the world economy to the system relevant to actor to grow.

In case of an impending Bankruptcy would have to save the community of Facebook or its organization Calibra with tax money, is afraid of the movement.

In the follow-up to the financial crisis, Assen, the heads of state and heads of government actually announced that it will not come to a Situation like this. Therefore, the EU should ensure that Libra will be banned, argues a financial turnaround.

financial turn relies on survey: 71 percent of Germans see Libra skeptical

the back cover has brought the civil rights movement in the run-up to the pollsters YouGov. Here are the Berlin-based author had given a survey in order to reflect the reservations of the German citizens. This is to give the Ban vigorously.

according to the on Tuesday, the 23. July, as published in the survey, 71 percent of the German Libra with suspicion. Only twelve percent would the project positively.

For the opinion of YouGov had surveyed previously 2.093 people. Currently, the Petition has, in turn, 4.392 signatories.

Political Echo: Facebook needs to political-regulatory concerns

Similar skepticism, as defined by the survey close to, is approximately one and a half months after the release of the Libra plans in the circles of decision-makers. The Finance Ministers of the G7 countries meet in Paris in the mid of the month as last, especially Germany, France and the USA had made their scruples clear. They underlined that Facebook should not hope for the current state on the blessing of the competent financial regulators. First of all it is necessary on the part of the group, regulatory concerns, compared to Libra to eliminate.

This attitude also US Secretary of the Treasury Steven Mnuchin reflected in this week. Compared to the economic news CNBC he said:

In terms of Libra, we have made Facebook very clear that, before [starting the project], you must comply with our rules.

Meanwhile, seems to harden up the Front a potential competitor. Last week, about Ren Zhengfei, CEO of Chinese technology giant Huawei, the country’s Central Bank, Facebook’s market encouraged a own crypto to counter currency. Appropriate plans had been brought by the PBOC as a possible answer to Libra in early July into the game.

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