Maybe they are trying to destroy crypto
(and of course the USD, but our country is doing a great job of that right now) but I think they are trying to destroy crypto since it is the biggest competitor right now
Anything to help them and hurt us. And our administration will do nothing but help them. Trump had them being a little more fair. Now they helped biden and the dems steal the election because it benefited them.
Revelation 17:4
The woman was dressed in purple and scarlet, and was glittering with gold, precious stones and pearls. She held a golden cup in her hand, filled with abominable things and the filth of her adulteries.
maybe my gold stocks will go up?
1) There’s good and bad with being the reserve currency.
2) No other country has the reserve currency yet they manage to survive.
3) Other countries might not like us...but how many would trust China???
Is this the same Chinese who get caught every couple of years selling gold on paper but never actually have the real stuff? I think the last one I heard of actually tried to pass off painted gold bricks when the inspectors came to check their actual holdings. The ChiComs are notorious for selling exotic metals on paper without actually having any true assets
There’s not enough gold to run a world economy.
Wars and feared/actual recessions destroy the discipline needed to have fiat currency stability.
Biden and his team so fear a stock market crash that they are going to sink the dollar, whose declining value will encourage foreigners to sell their shares of American companies. I suspect a stock market crash is only being delayed.
Gold notes from Nevada, Utah, New Hampshire.
$1 has 1/1000 oz. of gold in it
$50 has 1/20 oz. of gold embedded.
Pricey for the amount of gold and not really ‘legal’ tender.
https://www.providentmetals.com/gold-coins-bullion-bars-rounds/gold-notes.html
Also last week, Peter Thiel warned “Bitcoin should also be thought [of] in part as a Chinese financial weapon against the US... It threatens fiat money, but it especially threatens the U.S. dollar.”
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China is also where the majority of crypto currency is generated.
Ultimately the value of a national currency is determined by the economic output and the rationality of the government issuing the currency. If the real production of goods and services declines or the printing of currency increases beyond reason, the value of that currency declines.
China will never be a strong international currency because their government, financial policies and banking laws are simply not trusted. Heretofore the US constitution, traditions, laws that respected property rights real productivity, innovation and rational government financial policies made the UD dollar the world benchmark currency. Things seem to be changing quickly .The CODID economic rebound will mask the detrimental effects of Biden’s anti capitalist and bizarre monetary policies for about a year, but eventually the piper will be paid. Gold has already begun its climb.
tungsten backed yuan more probably
Likely in preparation for going on the QFS.
I imagine two different scenarios.
1) To recover its currency from hyperinflation. After WWI, Germany’s fiat currency, the *papiermark*, rapidly became worthless. To recover from this, a second currency only used between the government, and between businesses was created. A gold backed currency called the *rentenmark*. It worked, thus paving the way for a still gold backed, but stable *public* currency, called the *reichsmark*.
But you cannot make a gold backed currency without gold.
This scenario suggests the CCP sees international hyperinflation as inevitable.
The 2) scenario(s) are all the bad conspiracy theories blended together. That the CCP wants the Yuan to be the world’s dominant currency, and wants the Yuan to be digital.
However, I think the Chinese are too conservative for this double edged sword.