It is coming…
— Raoul Pal (@RaoulGMI) September 22, 2019
The central banks have been flagging it for a while. From the BoE to the ECB, and now the IMF. The stable coin potentially solves many issues for the global system which is overly reliant on the dollar. https://t.co/yUMrt83Qm3
The stable coin suggested by Libra is clever because it is not a basket of currencies versus the dollar, but a basket that includes the dollar, this is incredible stable as the denominator is essentially money supply. This got the attention of the CB’s
— Raoul Pal (@RaoulGMI) September 22, 2019
Now, Libra-style stable coins are far from perfect but they are potentially better for the digital world we live in. CB’s like them because it doesn’t exclude sovereignty and all the rights and benefits that conveys, but many are already discussing a sovereign crypto currency
— Raoul Pal (@RaoulGMI) September 22, 2019
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