“I’m Not At All Excited”: China’s Digital Yuan Is Turning Into A Giant Flop

0
341

Zero Hedge: It was supposed to be the biggest threat to the reserve status of the dollar (China’s denial that it has no desire to replace the USD with the digital yuan only confirms it) since the failed experiment that is the “whatever it takes” euro, but instead it is turning out to be one giant yawn.

While many pundits have argued that China’s digital yuan would be a “potentially fatal challenge” to American hegemony according to historian Niall Ferguson, Templeton’s Hasenstab saying it could undermine the dollar’s role as a reserve currency and even Biden’s White House studying the potential threats to the US currency, those who’ve actually used the digital yuan in China offer a vastly different response: big shrugs of indifference.

According to Bloomberg which interviewed users of China’s digital currency, they showed little interest in switching from mobile payment systems run by Ant Group and Tencent that have already replaced cash in much of the country, with some openly balking the digital yuan – which recall is programmable and comes with an ad hoc expiration date – and which gives authorities access to real-time data on their financial lives. Read More …

Opinion: “Write the things which thou hast seen, and the things which are, and the things which shall be hereafter’ Revelation 1;9

The 3rd judgment of the apocalypse, things that will be hereafter, is a global plunge into hyperinflation …

And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.

And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine“. Revelation 6:5-6 KJV

If the world has not gone cashless before then, it most certainly will …

“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.” Revelation 13:16-17

One man cannot control the global economy with multiple methods of payment.

See The 1% and Revelation: Do Not Harm the Oil and Wine HERE

Hits: 120