OF THE
TIMES
Russian information troll farm the Internet Research Agency spent just 0.05 percent as much on Facebook ads as Hillary Clinton and Donald Trump's campaigns combined in the run-up to the 2016 U.S. presidential election, yet still reached a massive audience. While there might have been other Russian disinformation groups, the IRA spent $46,000 on pre-election day Facebook ads compared to $81 million spent by Clinton and Trump together, discluding political action committees who could have spent even more than that on the campaigns' behalf.Trump and Clinton, when you factor in their various political action committees, spent millions more.


The nightmare for the U.S. financial industry is that a technology company - whether from China or a homegrown juggernaut such as Amazon.com Inc. or Facebook Inc. - replicates the success of Alipay and WeChat in America. The stakes are enormous, potentially carving away billions of dollars in annual revenue from major banks and other firms.That threat may now be materializing. On June 18, Facebook unveiled a white paper outlining ambitious plans to create a new global cryptocurrency called Libra, to be launched in 2020. The New York Times says Facebook has high hopes that Libra will become the foundation for a new financial system free of control by Wall Street power brokers and central banks.
Comment: Putin spoke more sense in the FT interview: