Wednesday, September 1, 2021

China Preparing To Launch The Digital Yuan: Prepare For The US Dollar Collapse!

China Preparing To Launch The Digital Yuan: Prepare For The US Dollar Collapse!

The monetary system is based on TRUST . And NOBODY trusts the privately owned FED or the US who facilitates it anymore!! That's why 138 countries have signed up to the Belt and Road Initiative and that's why there was a stampede to join the Asian Infrastructure Investment Bank as founding members when it was launched ! Meanwhile the US DOLLAR is DILUTED, DEVALUED and ARTIFICIALLY INFLATED by the Federal Reserve ! It will soon be over for the US Dollar; there is NO stopping it ! The upcoming currency crisis will be first and foremost a crisis of confidence and the only solution will be non-printable collateral--ie precious metals. There will be no trust so therefore there will be no credit. Gold will once again prove that it is the foundation of our entire idea of 'money'. As technology advances, and the world can now be accessed via a handheld smartphone, the way in which we earn, spend and send money is changing, not only through the introduction of cryptocurrencies such as Bitcoin, but now it seems through digital national currencies, something that could change the way we bank forever. The central banks push all things destructive to society in order to further consolidate their power. China will be the first country to launch a digital currency. China's digital yuan would be a "potentially fatal challenge" to American hegemony. Honestly, who wouldn't want all one's wealth under the total surveillance and control of China's Communist Government? Sounds like a great idea! This currency is more designed to further repress the local population. A new crypto that gives China even more power over its citizens and over the world economy. The digital Yuan is going to be just another way for a totalitarian government to watch us. Control over the people via digital currencies is one of the goals of the Great Reset. The ECB too is moving ahead with its own plans for a digital currency by the mid 2020's. The Chinese have used a lottery to hand out free digital Yuan to test pilot the new system. It has been received well by residents of Shenzhen. The Chinese government is not going to have to force anyone to adopt digital currency. The Chinese people will love it.China is the most wired place on earth, and they love it. Notice how we already have digital currencies but that isn't good enough, they need to make cash illegal. They want to keep track of you and control you with the press of a button, cutting off your ability to buy or sell if you step out of line. All countries are going to a digital crypto currency even the US which will release its White Paper this summer. Lagarde is going to do the same this summer. The UK and it’s 67 million people can buy bitcoin coins through PayPal starting this week. Berkshire Hathaway, the company led by CEO Warren Buffett, has invested $500 million in a pro-bitcoin digital bank. Nubank says it will offer bitcoin investment following its acquisition of brokerage firm Easynvest which offers the trading of Brazil’s first bitcoin exchange-traded fund (ETF). EL Salvador citizens will ALL get $30 worth of BITCOIN on SEPTEMBER 7, official date of Bitcoin as a LEGAL TENDER in the country! Trudeau has already banned cash but it is still being used and will be removed when their central bank is ready to release their digital currency. There is no forcing at all like Lagarde, she will release the new Euro, ban cash and all existing non crypto euros will be converted to the new one. But to be honest , China did not create the digital yuan to replace the dollar but to use it to avoid sanctions instead of using the old yuan or dollar as the US has used the dollar as a political tool one too many times and the world is slowly retreating from this. China has set up a whole alternate international financial system separate from SWIFT but can be fully integrated if necessary with their own IMF and World Bank. One of the main points of crypto is to remove governments from the equation, not give them more control of finances. But that's exactly what will make all cryptos a target of governments who don't like competition. Wait till it becomes evident to some critical mass of people that the US dollar is kaput and you'll see them sending out their hit pieces on BC and every other one out there. The Internet will be blocked from transmitting them (don't for a second think they can't do this) and you'll be forced into exchanging them for official government digi-coins. Dying governments become dangerous so make sure you have something you can hold in your hand other than a USB drive. Take up will be slow and it will be used for the most legitimate purposes. Paying utility bills, paying all government fees and charges, all purchases people are willing to, well, publicly share. People all have their own private peccadilloes they want to keep private, most dietary, candy and alcohol, they will probably pay for healthy groceries with it. The good citizen spending currency, it is all that it will get used for, except of course by the foolish. Take up will be slow and people will adjust and accept it, as they already should with regard to any credit card use or have they become so gullible to believe their credit card purchases are not already data mined to the nth degree. The taxation service can snag all that data any time they want to and via them federal investigative agencies can get that data and data mine your purchase patterns, want you spent where and when and for what, those patterns can point to all sorts of crimes. So technically there is no difference in privacy between a fully trackable government digital currency and a credit card, want to keep secrets, use cash, and cash is freedom in capitalism. The only real difference between private and state digital money in this scenario is that the state one can be programmed to have an expiration date. I bet they are going to initiate bigtime controls on it so it doesn't leave China. Now that would be horrendous. Most of the cash leaving China is basically smuggled. So the main intention of the expiration date is so nobody can spend the coin if it expires. Not a threat to the dollar. Not at all. It's like vanishing gold. It would essentially be a hot potato. In fact that is sort of a good idea for a crypto coin, just to make sure nothing ends up missing. The expired ones get replaced by a new one if not "claimed". Maybe some more clawbacks from bad transactions too? It would destroy holders. These coins were not set up properly, that's all I can tell. It is essentially like printing up paper, then sitting on it while other people bid on it after you already printed it. Its like a master ponzi scheme, then you charge them for transactions with the scraps so you never get bit. should call it two-bit coin. If individuals will be able to pay each other with this digital currency, then presumably countries outside of China will be able to use this currency this way too. Countries in Africa might increase their trade with each other using this currency. This is how the US dollar is often used now. Countries outside of the USA are now using the US dollar to trade with each other. But the transaction costs of using the US dollar are now high, compared to the projected costs of using a digital currency. Because with a digital currency, there is no need for intermediary middle-men to take their cut from such transactions. Everybody deals directly with the Central Bank and not with some middle-men. This digital currency might replace the US dollar and not just the Euro for international trade between countries outside of Europe and USA. And it's not just because of decreased cost of transactions. It's also because of political risk. Both the USA and the EU use their currencies to interfere in trade between other countries for political reasons. And there isn't much difference in politics between the EU and USA, because they are friends and close allies. But China will provide a real political alternative and enable other countries to diversify their political risk for international trade. Due to the success of the "Yale model" and other related academic paper, there has been prevailing trend to have at least one asset class (in institutional portfolio) that has rather very high beta (but strongly uncorrelated to the Market) However, Bitcoin, at present time, seems to behave as if it is strongly correlated to the Market direction. Anyway the real question is "if i.e. rather when" is it going to be regulated by the Government agencies. One of the main functions of the Government that gives its legitimacy is Government's firm control of its currency...thru e.g. central bank. Any Central Bank willing to let loose a maverick in their tightly controlled domain?...(especially in the light of view that 51% attack can be initiated by one country namely China. Since we now know that there is no rule-of-law there and anyone/entity can be taken away be ruled under the control of the Emperor). As a starter for bitcoin to have its proper place, it has to be regulated to address tax evasion, consumer protection and , most importantly, Anti-Money Laundering among others. Is it ever going to be regulated? If so then what happens to its supposedly inherently interesting core features afterward? From Anti-Money Laundering (especially Financing of Terrorisms resulting in heavy collateral damage) perspective, it would be only one dire "incident" away from getting the book thrown at it, rather promptly and with strong world/public condemnation. Still very much a work-in-progress project? A return to digital gold standard will stop peoples wealth being stolen by inflation and they can stop working before they die! This is REAL capitalism!

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