Trump Slams Cryptos, Libra; Praises Dollar As World's "Most Dominant Currency"

Zero Hedge | 7/11/2019 | Staff
Alenaaa (Posted by) Level 3
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A day full of paradoxes just added one more.

Moments ago, amid his early evening tweetstorm (which so far is tiny compared to the furious tweeting he unleashed this morning), Trump who earlier in the day conquered the stock market, tweeting "Dow just hit 27,000 for first time EVER!" (once again not realizing that by owning the Fed's biggest asset bubble in history, he will also own the coming crash), the stock market president decided to shift his focus to currencies, and not just any currencies, but cryptos (and, well, Libra which only pretends to be), saying on twitter that "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air", seemingly unaware that the value of any currency is based on precisely the very same thing.

Trump - Unregulated - Crypto - Assets - Behavior

Trump went on, explaining that " Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity", which coming from a former real estate developer means a lot.

Picking up where Congress left off its Libracoin hearings with the Fed Chair over the past two days, Trump then decided to slam the latest entrant in the digital (because it isn't crypto) currency world: "Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability."

Object - Trump - Evening - Ire - Cryptos

Gradually, the object of Trump's evening ire emerged: not so much Cryptos, as Facebook's audacious attempt to become a central bank without a sovereign, when Trump slammed Zuckerberg's company: "If Facebook and other companies want to become a bank,...
(Excerpt) Read more at: Zero Hedge
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