It is a stable coin with a consortium of big companies as the validator. If Libra reserves genuinely backed by a 1:1 ratio, then I don't see any serious problem. However, If they use the fractional reserve, I'm afraid inflation will speed up rapidly and take down the global economy (assumed Libra would become mainstream). Perhaps this situation is good for Bitcoin. People will realize that Bitcoin is the only non-debased currency.
I think they will run on fractional reserves.
Yes, this is a great article to exposed what's the truth behind this Libra coin. And I think the US government knows a thing or two about it that's why they decided to go against it at the initial creation of the coin. Facebook coin might have open the pandoras box here, and now government around the world will be critical of any crypto that is going to open, and will used any excuses in the book to curb it out and cite this Libra coin as an example.