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It's No Bitcoin: Facebook's Libra Currency Is Tied to Government Currencies

• https://www.zerohedge.com, by Ralph Fucetola

But his concern for money and market reached back to his earlier work, as noted in a number of articles posted in recent years at mises.org. As noted by Nikolay Gertchev:

Libra Could Compete With Traditional Central Bank Currencies: Kroszner

In a series of five lectures delivered in 1937, and published under the title Monetary Nationalism and International Stability, Hayek offers an in-depth analysis of the main deficiencies of the present-day monetary system. In a nutshell, he identifies two factors that disrupt international economic relations: the fractional reserve commercial banks and the national central banks. The former are the primary source for the international transmission of the business cycles, while the attempts of the latter to correct the imbalances de facto amplify the resulting instability.

And Demelza Hays writes:

In 1975 Hayek eventually gave a lecture entitled "Choice of Currency," in which he articulated for the first time the provocative demand that the state monopoly on money should be repealed. The publication of the monographs Free Choice in Currency and The Denationalization of Money followed a year later, in which he expanded in greater detail on his ideas on competition between private money issuers. ...

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