LIBRA: Facebook Now Wants to Control Your Money

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from 21st Century Wire:

Facebook – backed by some of the largest banks and corporations on Earth – seek to create a global digital currency and reassert Western dominion over the global economy.

Many are probably already familiar with US-based social media giants like Facebook and Twitter carrying out sweeping campaigns of censorship executed in line with US foreign policy objectives.

New Eastern Outlook itself was deleted off of both networks – just one among many thousands of accounts wiped out in a virtual information war.

Many are also probably aware of how Facebook in particular has trampled the privacy of its users, manipulated users unwittingly through involuntary experiments and controls what many people around the globe see while online – most of the time without users even realizing it.

But imagine instead of just silencing and marginalizing opponents or controlling the information the public has access to and thus manipulating the public itself, Facebook was also able to control the very currency people use in their day to day lives.  Its control over the public, both within the US and beyond, would be unprecedented.

The ability to control both information and money would be a potent tool, enhancing Facebook’s already deeply disruptive and abusive behavior as well as the much larger corporate-financier interests Facebook works with and for.

Enter Libra

Earlier this year Facebook announced its own currency called Libra. It is based on blockchain technology, billed as a “cryptocurrency,” and aims at dominating banking and commerce in much the same way Facebook already dominates social media, messaging and in general, the flow of information.

There is no doubt that the same cooperation Facebook has provided the US government and the interests that dominate its domestic and foreign policy in controlling and manipulating public opinion around the globe, stifling alternative news, and even overthrowing governments will translate directly into a similar pattern of abuse through its desired control over a global currency.

Unlike hard currency which does not know in whose hands it resides and thus is unable to discriminate against its holder – Libra not only allows Facebook to know whose hands its currency is in, but how much of it is there, what it is being used for – in addition to all other personal information Facebook has access to. This not only allows for an obvious extension of Facebook’s already well-known politically-motivated abuses – but also gives Facebook the ability to target users who may pose as competition to Facebook or one of the many larger corporations Facebook works with or for.

Imagine Facebook carrying out a similar campaign to their current one of political censorship, but with an added monetary component – not only removing the West’s political opponents from their social media network and effectively silencing them, but crippling them financially by freezing their accounts and denying them access to the massive digital global economy they hope to create and control through Libra.

While US politicians and regulators appear to be obstructing Libra’s rollout, the truth is that many of the very interests these politicians and regulators work for are directly involved in Libra’s creation.

Not Just Facebook: What is the “Libra Association?” 

The initial white paper laying out Libra’s premise included in its introduction:

Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.

Such noble intentions are betrayed not only by Facebook’s involvement, but also by the partners included in Libra’s creation.

While Facebook serves as the face of Libra, it and its subsidiary Calibra are only two among many members of the Geneva-based “Libra Association.”

Other partners include Mastercard, Visa, Lyft, Uber, Vodafone, and eBay along with a handful of venture capital firms and nonprofits.

These nonprofits include Women’s World Banking funded by Visa, Credit Suisse, MetLife, Citi Bank, Exxon, Bloomberg, Mastercard, Goldman Sachs and many other large corporations and banking interests.

There is also MercyCorps whose website is particularly opaque in regards to its funding, but includes inveterate Neo-Conservative, former World Bank president, and US Deputy Secretary of State under George Bush Jr. Robert Zoellick upon its “Global Leadership Council.”

Kiva – like MercyCorps – is another Libra Association “nonprofit” partnered with a collection of banks and corporations including Google, HP, Mastercard, PayPal, Capital One, Deutsche Bank, MetLife, PepsiCo, Citi Bank, eBay, BlackRock, Bank of America, JP Morgan, and Chevron.

It would be difficult to construct a more dubious list of partners, donors, and associates in fiction than the one standing behind Libra in reality.

Judging by the composition of those driving Libra forward, we can make two assumptions:

  1. Libra’s founders are among the same special interests that drive US policy, legislation, and regulations. The prospect of the US government legitimately evaluating and regulating Libra in line with the best interests of the American and global public is nonexistent;
  2. Despite Libra’s stated mission of “empowering billions,” its rollout looks more like the restructuring of America’s financial hegemony over billions. Libra seeks to circumvent alternatives created to work around the already abusive and coercive global financial networks the US dominates and weaponizes to its own advantage.

F. William Engdahl in his article, “Is the Fed Preparing to Topple US Dollar?,” aptly noted that Bank of England governor Mark Carney at a US Federal Reserve sponsored symposium proposed a global digital currency citing Libra specifically as a model.

Considering the very interests that constitute Western banking and finance are involved in Libra’s creation – it is obvious that Libra is more than just a model being cited – it is the global digital currency insiders like Carney proposed coming to life.

Remembering Facebook’s Long History of Abuses 

While many of the corporations and financial institutions involved in Libra’s creation are systematically corrupt all on their own, the conduct of Facebook past and present most aptly illustrates the abuse to be expected should Libra be adopted globally.

While Facebook poses as an independent corporation monopolizing and abusing its social media network and subsidiaries – in reality Facebook has carried out these abuses in tandem with the US government and the collection of special interests that monopolize US domestic and foreign policy.

US government oversight – including past hearing and regulatory inquiries into Libra itself – is often done for public consumption only – with Facebook otherwise continuing onward with absolute impunity.

Abusing Privacy: A summary of these abuses best begins with quoting Mark Zuckerberg himself. Elle magazine in an article titled, “Quick Reminder: Zuckerberg Once Called People Who Trust Him With Their Data ‘Dumb F*Cks’,” summarizes Facebook CEO Mark Zuckerberg’s view of the public and their entrusting of personal information to Zuckerberg and his social media network.

While Zuckerberg would apologize for this, it is clear he was only sorry that it became public. Facebook continues to this day abusing the trust of those using its services by involuntarily providing the personal information of tens of millions of Facebook users to third parties.

Business Insider in its article, “The Cambridge Analytica whistleblower explains how the firm used Facebook data to sway elections,” notes how Facebook not only provided personal information to the British firm Cambridge Analytica, but how that information was used to meddle in US elections.

Political Meddling: The Facebook-Cambridge Analytica scandal was mild compared to other episodes of political meddling Facebook has been involved in. Perhaps the largest most destructive episode was before and during the so-called “Arab Spring.”While the Western media portrayed it as a spontaneous uprising across North Africa and the Middle East – documented evidence reveals the US government along with its corporate partners including Facebook began training and equipping agitators years before the unrest began.

Facebook was one of the primary partners of Movements.org which organized annual training seminars for opposition leaders who then returned home and attempted to overthrow their respective governments in 2011.

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