The Chinese government is pushing ahead on many fronts to restrict what its population can and cannot do. They already restrict the right of assembly. They already restrict religious freedom. They certainly restrict political speech and any speech that is critical of their government (and the way they run things) is definitely cracked down on.
All you have to do is look at what's happened in Hong Kong over the past just two years and you get a very clear picture of where they're going. But they want to control, and they're doing it right now with social credit scoring where if you don't score a particular way you're not allowed to travel. That's already in place.
But just imagine a government that if you step out of line they can now turn off all your money and do it instantly so you cannot buy or sell, you don't have the right in the marketplace to participate anymore.
That's what digital currency allows a government to do. And if you think it's just going to happen in China think again. The Federal Reserve already has a study group looking at a digital currency for the United States. Why are they doing that? Because they're afraid China will usurp the U.S. and become the world currency, that digital currency is taking over.
So you see all the action happening in the stock markets, the various markets for Bitcoin and other digital currencies, their rapid rise and people becoming overnight millionaires, billionaires, trillionaires based on the value of these digital currencies, and so the Federal Reserve wants to get in on that action to protect the U.S. Dollar as the world currency.
We depend on that right now. We're spending ourselves into oblivion and what allows us to do that is that we have the world's (reserve) currency. So we are essentially borrowing against the value of our currency in order to have a two trillion dollar deficit.
Well, that party has to come to an end at some point in time. China's waiting for...
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Xi has claimed that within a limited time period (I forget what it is) China will have complete control of the internet. Israel has made the same claim in the past.
ReplyDeleteWhen Google began working with the CPP years ago I kinda clued in to what they have planned. Heck read about what Trudy has planned in Canada regarding freedom of speech. Even Forbes has mentione how overboard it goes.
Wishing Trump all the luck in his fight against these techno criminals.