China maybe the next global currency

in #brainfeed10 months ago

At the end of WW2 the UK was so broke and in debt that the UK pound was no longer valid as a global currency.
A position that it had held for a very long time.

Since then the US dollar has been the basis for global trade.
Now the US is in so much debt and the interest costs on that debt are out of control.

Is it time for a new global currency?

Since China has become the manufacturing centre of the glob, and they are opening up the Silk road to improve trade, China looks to be in the box seat.

Now throw in to to equation the development of a China based crypto, and perhaps a big picture starts to emerge.

The main issue being China's crypto is no more decentralised than the US dollar or the UK pound was. All of them are based on a system of control from the top end of town.

Bitcoin is different. It is a coin for & by the people with no central control, other some large whales that can and do manipulate the price.

Time will tell

https://www.coindesk.com/circle-ceo-chinas-digital-currency-could-bypass-western-banking-system

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Not likely. At this moment, no one really knows what will replace the king dollar but it will be safe to say that owning physical gold and silver will be a wise investment.

Think Gesara. This officially commenced on August 22. The fiat is fckd. All currencies will eventually be gold backed.

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