Dewey Fernfield
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Anyone that thinks that China’s currency, digital or otherwise could replace the dollar is just plain delusional.
A currency is required to have faith that it does have value by those that accept it.
AND, since not even the CCP knows what is really going on economically in their own country, there is no way to know what the currency is actually worth, other than the CCP saying what it is worth, and that just doesn’t work in the real world.
All the people pushing “Central bank digital currencies” miss two points: How are inter-state “money” transfers, which theoretically can happen instantly with a digital “money” to be settled ? By the BIS (“Bank for international settlements”) ? Give me a break. With what ? Their SDR’s which are subject to political bickering and influence ? Forget it. One argument for digital currencies is they prevent corruption and money laundering. But with governments being the biggest criminals in the world, do you think they have an interest in that ? Do you seriously think the CIA, for instance, wants “transparency” over… Read more »
A digital Yuan is just a digital currency. The over printing of US dollar is what is destroying the dollar because its value keeps on falling. If you think that countries are going to hold onto the dollar no matter what happens then your delusional. There are no friends or loyalty in this game. Its all about money.
All Fiat currencies will be Destroyed by the reckless behaviour of the governments and Central Banks. The only candidate For survival ist the russian ruble. The russian CB raised interest Rates Just the Other day because they are the only adults left in the room. If any Other CB did that their economies would immediately Crash.
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No acceptance of U.S. dollars, no purchase.