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China's digital currency could bring surveillance state to wallets at expense of US dollar
Posted on 5/9/21 at 11:44 am
Posted on 5/9/21 at 11:44 am
China's emerging digital currency could enhance the yuan’s importance in the international financial system at the expense of the U.S. dollar and extend the Chinese surveillance state into wallets around the world.
A combination of visibility of currency users and technical control is a monetary dream for Chinese communist officials, who have staked their regime on their ability to monitor and curtail private activity within China. The digital yuan’s acceptance beyond mainland China could give the regime a significant geo-economic tool, one that bypasses the network of banks and financial institutions that are subject to U.S. laws and binds client states more directly to Beijing.
LINK
A combination of visibility of currency users and technical control is a monetary dream for Chinese communist officials, who have staked their regime on their ability to monitor and curtail private activity within China. The digital yuan’s acceptance beyond mainland China could give the regime a significant geo-economic tool, one that bypasses the network of banks and financial institutions that are subject to U.S. laws and binds client states more directly to Beijing.
LINK
3
Posted on 5/9/21 at 11:48 am to Jjdoc
Any nation who trades in this digital currency deserves what they get.
Posted on 5/9/21 at 11:51 am to Eli Goldfinger
china is a-hole!
Why isnt the world holding them responsible for COVID? THANKS A LOT CHINA!!!!!!!!!
Why isnt the world holding them responsible for COVID? THANKS A LOT CHINA!!!!!!!!!
Posted on 5/9/21 at 11:54 am to Jjdoc
quote:
The digital yuan’s acceptance beyond mainland China could give the regime a significant geo-economic tool, one that bypasses the network of banks and financial institutions that are subject to U.S. laws and binds client states more directly to Beijing.
They may not be subject to U.S. laws, but if they run afoul of GDPR, Europe could ban them completely.
Posted on 5/9/21 at 1:07 pm to Jjdoc
I’m sorry, but we should preliminarily ban this currency in our country. Nothing good can come from it.
Posted on 5/9/21 at 1:40 pm to OMLandshark
quote:
I’m sorry, but we should preliminarily ban this currency in our country. Nothing good can come from it.
US monetary policy should be completely revamped before the fiat monetary system collapses globally. Many Americans are still living in the past, believing there’s no way the US Superpower, economic juggernaut could lose control of our economic security via a runaway debt spiral. Imagine if the fed funds rate ticks up to the low end of the normal historical range of 3-5%, the debt service on US debt of 30 trillion dollars at 3% becomes unsustainable.
I’m not predicting when the Fed/Global Banking Cabal loses control of the fiat monetary system but you know these crooks are quite aware it’s a real possibility because they’re discussing in a very serious manner a Global Reset. You can also understand why these Global Banking institutions are very concerned with crypto currencies.
Posted on 5/9/21 at 1:46 pm to OMLandshark
Who the hell would be ok with the Chinese government having open access to and control of their financials?
Posted on 5/9/21 at 2:52 pm to DownshiftAndFloorIt
we're between a rock and a hard place financially speaking... at least our military is well funded
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