Economist Joseph Stiglitz: Only a Fool Would Trust Facebook’s Libra

Nobel laureate in economics Joseph Eugene Stiglitz claimed that “every currency is based on trust, but only a fool would trust Facebook’s Libra.”

Stiglitz also notes that “in just a few short years, Facebook has earned a level of distrust that took the banking sector much longer to achieve.” He appears to fear that Facebook’s cryptocurrency could be hospitable to a shadow economy:

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