CHINA'S PRINTING my country currency? Isn't that a clear THREAT TO A NATION SECURITY ?steemCreated with Sketch.

in market •  last year 
123.jpgUsually my focus is directed towards crypto, blockchain technology, AI and psychology in general. I hardly dare to "talk" openly about politics and I'm definitely far from having strong views. My intention is to share my worries with you on one particular issue, hoping that some of you would be willing to share your knowledge and experience with me.

INTRODUCTION

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As some of you may have noticed, I've been quite absent lately and I didn't really plan to publish anything at the moment. However, I've recently read an article which got my full attention and made me seriously worry about my own country, Poland:

"China is printing money for countries like Poland and Brazil at ‘full steam’ as it tries to expand its influence on the global economy"

https://www.businessinsider.my/china-printing-foreign-money-to-expand-global-economic-influence-2018-8/?r=US&IR=T

Poland and Brazil are not the only countries affected by China, as they are also printing India, Nepal, Sri Lanka, Bangladesh and Malaysian currencies.

It's clear that the Chinese goverment's capabilities of printing many foreign currencies is possible and this raises several important questions and it create disturbing national security implications.

IMPORTANT QUESTIONS

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What are the potential consequences for those countries to bring such a contract? How could this contract happen in the first place?

I always believed that each country would aim to be in charge of printing their own currency. Being in control of your own money seem to be a must. How could Poland and other countries allow China to have that much power over all those nations? Im also wondering if corruption in China isn't still a huge problem?

I can easily imagine the entire Polish market being flooded with those money, causing very high inflation and destabilizing the entire country. Other markets (Malaysian, Thailand etc) would be even easier to destabilize. I see plenty of threats but somehow I cannot see any potential benefits coming from this deal.

SHARE YOUR VIEW WITH ME

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So please share your thoughts on this topic with me. Mostly help me understand how could Poland (and other countries) benefit from having such a deal with China. What are threats, pros and cons of this solution.

There are a number of questions Im trying to figure out and I would really love to hear from you. I promise to read every comment below.

Help me and support @IamChijamz

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My dear friend @IamChijamz recently published his excellent review about NOIA Network. My goal is to help him promote his work. If you have a chance, please open the link below in a separate window and show your support by dropping some valuable comments:
https://steemit.com/crypto/@iamchijamz/the-inter-twining-of-peer-to-peer-file-sharing-blockchain-technology-and-ai-technology-for-improved-and-decentralized-content

Yours,
Piotr

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Hi @Piotr, are you a polish in Malaysia? Your name it look like that. We are a polish company running by italians, so we do not speak polish, but we are amazed about your article of printing polish money from China, this make me undersatnd of many thing and why here is paradise of chinese. You know how many shit they try to sell around the world, but in Italy for example, if you buy chinese shit and it stop to work before 15 days, you have the right to give it back and choice to get back your money or take another one, but here in Poland, NO! They take your part, even bought just an our ago, to maintenace centre, so if you need this piece of shit, you have to wait even another 15 days to get back it that may be can work for another week and than they take it another time to maitenance service till you decide to through it away, so what you wrote it make me understanding many thing now, thank you!

Thank you for your amazing reply @intellihandling

I've checked your profile and it's kind of hard to see your description. Example:

Perhaps you could think of different background picture. Just a suggestion.

"We are company want to develop industry 4.0 with cryptomoney together"

Would you mind telling me if you guys have any website already? So I could learn more about your services?

Yours
Piotr

Dear @piotr, thank you for your kindly comment, you can see something more here: https://steemit.com/steemit/@intellihandling/making-an-ico-with-steemit-help-will-be-possible

I love to see how responsive you are @intellihandling

Your post has been published 6 month ago so Im sure many things have changed in meantime. How is your project doing currently?

Would you mind sending me short email to [email protected]? I would love to be able to keep in touch and support each other on Steemit.
I wish there would be more advanced notification system developed by steemit.

No pressure of course :)
Piotr

Hi Piotr, thank you for your kindly answer and i will send soon email to tell you about our project.

It is also a good idea to post weekly about your project. This keeps your followers growing and happy to see updates and help you raise funds for the future.

Tangential, but I laughed the first time I read this article. Made in Italy indeed!

http://www.chicagotribune.com/news/nationworld/chi-italy-china_spolarjan02-story.html

Dear my friend, i would like to read this article, but this is message i got after try to open the link:
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Europe censors the internet... interesting
maybe you #brexit you also exit their internet?

Dear @dynamicrypto, it is sad to see it for me, i was thinking we are continent of freedom!

hi @dynamicrypto, @intellihandling

I wonder why would europe censor this kind of article?

Dear Piotr, so this was the article hided? This article is showing a typical chinese mafia behaviour and of course could be some italian bad man help them to find the place, but when our police discover that, is always trouble to understand who is organization, for us chineses seems all the same and when they are in trouble they do not speak at all and it is very hard to discover organization. But this article is very different from the post concept, here is something illegal, but in Poland chineses business are protected, Piotr am i wrong?

Sorry for the late reply, but I don't think that it was blocked because of censorship, but rather the article is hosted on an American website that knew it was not in compliance with European privacy laws and GDPR so it seems they geo-blocked it for Europeans. American websites probably serve ads and collect data that would get them in trouble with the GDPR so maybe the article will be available once the website itself changes that.

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This is a matter of concern. China is given a contract by many countries to print their currency notes. Can China not flood those countries with fake notes?Definitely, yes.

hi @akdx

Thanks for sharing your view. It seem that we're both on the same page here.

Yours
Piotr

  ·  last year (edited)

Hi @crypto.piotr. There are obvious risks to national security and currency sovereignty, however a cost benefit may show that the costs of outsourcing currency may be worth the risk. I know that here in Australia, we print currency for many of our Asia-Pacific neighbours. Security is tight, and quality excellent. different situation to the one you outline, many of these countries are poor, and very small, and outsourcing to a bigger, friendly neighbour makes sence.

The world is becoming more and more dependant on Chinese production of everything else, physical currency isn't much different. I am not hugely concerned, Paper currency (or Plastic in Australia's case) probably won't exist in 10 years so it's a short term industry in my opinion anyway, if they can do it cheaper, then why not.

I would like to believe that your government would put appropriate safeguards and security measures in place, and have a backup plan in case something goes wrong... Or is that expecting too much from politicians.

Thanks for this amazing reply. I totally appreciate your time and effort @jk6276

"outsourcing currency may be worth the risk"

You might be right. Somehow Im still feeling uneasy about this idea. To put that much trust in China? Could costs of manufacturing your own money be really worth it?

At the same time I wouldnt hestitate to trust country as transparent and following law as Australia. I think that's a major difference. Wouldn't you agree?

Thanks again for your comment

Yours
Piotr

I agree to a point @crypto.piotr. There are many other commodities that are dominated by Chinese manufacturers. Is there any less risk in outsourcing them than printing of paper currency. Many nations are well down the path of dependence on China (Australia is most definitely one of them).

Is it preferable to bring China into further engagement and trade or to restrict and sideline a very strong, ambitious nation.

Specifically related to paper money, banks and financial institutions can create vastly more money than printing presses, so in this day and age, is the sovereignty risk actually that significant.

As for Australia, it would be completely unsurprising if we sold our currency production assets to a Chinese company anyway. A large amount of our property and businesses have already been sold out.

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Thank you again for your reply @jk6276.

Appreciate.

hi again @jk6276

Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0.5 STEEM. Not much but always something :)

Yours
Piotr

I really appreciate the gesture. Your topics @crypto.piotr are always thought provoking and I appreciate that you find value in my contributions.

Have a great day.

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appreciate that you find value in my contributions.

I really really do. I've managed to get to know a number of valuable people here on Steemit and learning from you guys is currently my main reason why Im on this platform :)

Printing money for other countriesn does not seem cool but it will be most important to see how these countries and their various markets react to this.

Hello @crypto.piotr , I'm not much of an account person but I also know that the minting of currency is done in accordance with world bank agreement and specifications. Therefore, if China is printing currency for Brazil anad Poland, it's has be in accordance with a prescribed economic rule that requires serious guidelines. The world Bank takes these regulations very serious to avoid impending inflation. Cases like Venezuela will be a lesson to everyone. Thanks for the active topic though.

for whatever reason, sovereignty should not be shared

hi @kabasakal

Thanks for sharing your view. It seem that we're both on the same page here.

Yours
Piotr

I am not surprised if China is doing that and I do not think it their fault. I blame those taking such sensitive contracts to them.

always remember, chinese products are not longer lasting.

Thanks @crypto.piotr for the support, contact me @rigmelendez3 and leave me your memo about "China printed foreign currencies", I am not an economist but like many people we are interested in this type of news, I personally think that the markets are going towards the world of the cryptocurrencies, that would be a good way out, for many countries to develop their own crypto, so they would not depend on other countries to print their currencies, and the paper money would be reduced. It is my humble opinion on the subject.

I await your opinion regarding my answer. Thank you.

Hi @rigmelendez3

I've noticed that you resteemed my post. Big THX. Appreciate it.

Thanks for sharing your view. It seem that we're both on the same page here.

Yours
Piotr

Thanks, we're right on the same pages.

I believe China is just doing this so they can get more influence and popularity around the world because everyone knows china has a bad government infrastructure. And if china is popular no one will mind do much if they have a bad government.

hi @mattdhertog

Thank you for your kind comment and for sharing your view with me.

Appreciate it a lot.

Yours
Piotr

No problem

Me imagino que si los países implementan estas medidas para la producción de su papel moneda, es para la reducción de costos ,por que para todos es bien sabido que si algo es producido en la gran potencia de china , sera mas económico por su alta producción ,ese seria el objetivo de estos países que quieran imprimir su moneda en china pero el contra que le veo es que muchos países por querer ahorrarse dinero cada día mas y mas deciden mandar a hacer todo a los países asiáticos sin darse cuenta que contribuyen al desarrollo de monopolizador el mercado chino dándole gran poder en todo el mundo lo cual es un gran error ya que lo países deberían buscar la autosuficiencia y el desarrollo de sus propias tecnologías para la producción ,claro que al principio seria algo muy costoso invertir en este desarrollo pero a largo plazo genera un bien ,un capital auto suficiente y económico.

No es bueno confiarse en otros países aun así si eso les reduzca costo en el proyecto deseado a realizar por que en cualquier momento no se sabe que pueda pasar y la nación quede indefensa por no tener una propia economía auto suficiente.

Alabado sea Dios#venezuela

hi @lezamad

Thx for your comment. But Im not sure how many of us can read spanish :(

I imagine that if the countries implement these measures for the production of their paper currency, it is for the reduction of costs, because for all it is well known that if something is produced in the great power of China, it will be more economical because of its high production , that would be the objective of these countries that want to print their currency in China but the counter that I see is that many countries want to save money every day more and more decide to send everything to Asian countries without realizing that they contribute to the development monopolizing the Chinese market giving it great power around the world which is a big mistake since countries should seek self-sufficiency and the development of their own technologies for production, clear that at first it would be very expensive to invest in this development but in the long term it generates a good, a self sufficient and economic capital.

It is not good to trust other countries even if it reduces the cost in the desired project to be carried out because at any moment you do not know what can happen and the nation is defenseless because it does not have its own self-sufficient economy.

Praise be to God # venezuela

translated by google translator

Thank you @lezamad for your translation and your great comment.

I really appreciate.

Yours,
Piotr

Venezuela saldrá de esta desgracia amen

De acuerdo con tu opinión... los países deben buscar su autosuficiencia y no otra cosa. Por ahora me queda una interrogante: ¿Estará ocurriendo esto en Venezuela?

Hmm, I think it could be a double edged sword effect, @crypto.piotr There are surely some pros and cons for this action!

I'm so glad to see your comment @wilhb81 :)

Im trying to find pro's and im simply failing ...

It is good to see you back crypto.piotr, were you able to solve the problems with the government?

Regarding the particular topic of this post, I obviously don't think this is a good idea.

It seems like a reduction in their sovereignty and it seems absurd.

Is there an official explanation about why is this happening?

Hi @dedicatedguy

It seems like a reduction in their sovereignty and it seems absurd.

We're clearly on the same page here.

I was trying to find any explanation or any "pros" of this solution and I failed so far.

Yours
Piotr

Good afternoon. I liked your publication. Thank you

Thank you for stopping by @yuriy4 :)

Yours,
Piotr

First of all nice article.
I have a strong feeling USA will get furious.
ha ha ha

This is of a great threat to the countries involve. How can another country print your currency. What if the country decide to be a smart one on them by exposing they hidden treasure. Men make i gum my onu abeg.

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thank you for your kind comment @lapb

Just checked your profile just to realize that we seem to share a number of interests :)

In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)

I will follow you closely.

Cheers
Piotr

For what ever deliberate wrong in any country, you blame the government, for whatever bad government in a country, you blame the electorate.
If you cannot return a bad commodity to a foreign company in a country or even indigenous company, those in public offices are proffiting from every sales and when there are alot of returns, there would be less profits for the company and those corrupt public office holders.
So, in the coming election even if its four years time, that time might be the time to right most of the wrongs

hi @unclefz

Thank you for your amazing comment.

Yours
Piotr

The entire Fiat regime can be easily manipulate regardless. Other than the dotted line and base coating on paper money, it has absolutely no protection and can easily be fabricated. Take Venezuela as example, the processes of printing money are more expensive than the money itself! Hence, crypto is the only way to go.

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Thank you for your comment @davidke20 and sorry for such a late reply.

This HF20 implemented lately is killing me. I delegated almost all my Steem power and now I can hardly post anything :/

Venezuela is indeed great example

Cheers
Piotr

  ·  last year (edited)

The question you raise implies a threat to countries from China. This would be correct even if Chinese were not printing currency notes- legally by contract or otherwise.
Second point- What do you think a country like Malaysia or India can do?
China's economy and military might has grown to outstrip all- even the USA.
But all's not doom and gloom. Money itself is evolving. So in the near future we may see solutions to this problem which have not been thought of. And Of course! Any independent nation would wish for maximum sovereignty over their economy and therefore contribute to finding solutions. I don't know how this will pan out but a good guess is that Cryptocurrency will have a big role to play.

Thank you for such an amazing comment @sarez and for sharing your view with me.

What do you think a country like Malaysia or India can do?

They may simply not sign a contract the way they did. I think....

Yours
Piotr

Sorry for not responding till now, I read your previous comment also. NO RCs. Well Govts function like slow arthritic elephants. May be in a year or 2 they will decide they need to oppose current policy.

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The practice of printing notes by a different country was not uncommon earlier, especially in developing countries. The assumption was that a developed economy with better printing technology was well placed to print notes which cannot be easily copied. That assumption still holds good but when it comes to China, the equation changes a bit.

At the moment they are into a lot of unnecessary muscle flexing and in such a circumstance to trust them becomes a bit of an issue. It is difficult to predict those guys. So, yeah, a problem for sure. What is a bother is that India and Malaysia too have trusted China with the job! Counterfeit comes to India through Pakistan and Nepal border and now with China printing, we may have legitimate counterfeit coming in... How's that for an irony! :)

Thanks for this amazing reply. I totally appreciate your time and effort @oivas

The practice of printing notes by a different country was not uncommon earlier,

I seriously didn't know that.

when it comes to China, the equation changes a bit.

You're completly right mentioning that trusting them in current stage is a bit of an issue. At least that's how I see it.

Again thx for sharing your view.

ps. to show my appreciation I've transferred you 0.5 steem just now. It's not much. But always something :) (my voting power is to small to really give you solid upvote)

Yours
Piotr

very good topic for discussion, apologize if I leave the subject a bit. nowadays it is a question of the fact that most of the countries in which money can not be maintained are only based on an internal GDP accounting that has false sustainability (one of them being the United States which has no real support to maintain its currency afloat), the printing of currency can be given by countries to other countries or by a country to indundate with worthless bills and that can create an inflation, there are also currencies like the dollar that is maintained by the traffic of all types of materials because this currency is used worldwide for that reason does not fall into a tailspin, there are also currencies that are maintained by money laundering and falsification of them (here could name Colombia whitening pesos and dollars for the financing of drug trafficking and the falsification of dollars for the flooding of a market) could last a whole day talking about this interesting topic but it would end up being annoying for others

hi @freddysolano

Thank you for your kind comment and for sharing your view with me.

Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Appreciate it a lot.

Yours
Piotr

Hi @crypto.piotr,
I understand your concerns but I don't believe that there is any other reason beside cheaper printing. Your country is losing some jobs because of that but not too much, USA has around 2000 people in printing industry so Poland has probably less. I don't see how China can benefit out of this printing beside jobs that they get and also knowing how much money Poland is printing. Poland could also have some printing money by themselves or some other printing contracts so data that China has means nothing. Point is that all countries are printing money so invest in BTC to preserve money valuation...

hi @cicbar

I understand your concerns but I don't believe that there is any other reason beside cheaper printing

I agree, that reason is definetly noble and sensible. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Point is that all countries are printing money so invest in BTC to preserve money valuation...

I've lost you here.

ps. Since my voting power is quite low and upvoting your comment wouldnt benefit you much, I decided to transfer 0,5 steem to you as a token of appreciation.

Cheers,
Piotr

My point about investing BTC was that it really doesn't matter where countries printing money. Wherever they print that is very bad and it is devaluing currency so your wealth is becoming lower without doing anything. Since USA left gold standard, all countries start printing money like crazy and FIAT currencies are losing value very quickly. GOLD and BTC are only tools that can help you to protect your wealth in my opinion.

A number of countries have outsourced the printing of their currency to China because of lower costs, etc. Of course there are security concerns. It would be in the interests of these countries to ensure due diligence is exercised. If China could not be trusted, then the best and only solution is that to stop immediately.

hi @msooi

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Printing another country's currency is an obvious threat country should take the precaution measure. If it happens then country will loose control over their own currency and which might have negative impact on their economy and loosing control over own economy is surely a matter of worry.

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hi @alokkumar121

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Thanks much for appreciation buddy. I understand that due to HF20 we were stopped to do anything.

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I sincerely disagree. Why must China print other countries currency, that's a room for corruption I must say.
Here in Nigeria, we print ours and by so doing we have full potential and control over the use of our money.
Sorry to say, what if China stops printing Poland's money for a while due to any challenges or disagreement, what will become of Poland or the other countries involved.

hi @lilkeszi

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

It's my pleasure to hear from you ☺, this Hf of a thing is really not okey sha. I'll love to speak to you in person, I'm planning to run some things here on steemit. Could you do me a favour?, drop me a link or so in which I can contact you please

Posted using Partiko Android

This is very interesting question! I do think I have some insight, but many of your concerns will probably remain when I am finished!

The benefits are basically economic. The nation state system as it is currently set up, requires enormous sums of expenditures to put on the 'trappings of state' that come with being a recognized country. Things like having embassies in other countries and staffing them can cost millions of dollars - per other country!

In this case, printing currency is not something you can do with an inkjet printer. The realities of currency in a modern age is that it requires extremely expensive infrastructure to integrate ever changing standards of security into the bills. (decentralized currencies anyone?)

China is engaging in a tactic that is very common in other industries, something called economies of scale. They have invested in the best infrastructure around, as well as maintenance and perhaps R&D, and now they want to max their capacity to maximize the investment. They do this by filling orders from other countries.

A country like Poland or Malaysia might be able to get state of the art counterfeit protected bills for a fraction of the cost, forgoing huge infrastructure, training, labor and maintenance costs that come with local production.

I hope this helps a little bit. And I understand if you still have the same concerns as you did when we started! Likely a contract has been signed and if there is evidence of additional printing or other manipulation, a country like Poland would put a claim on China before the ICJ.

Thanks for this amazing reply. I totally appreciate your time and effort @ecoinstant

Things like having embassies in other countries and staffing them can cost millions of dollars - per other country!

I was always wondering if embassies actually cost that much. I've been travelling around the world for some time and I visited number of embassies and they all seem to be collecting huge amount of money from civilians. Everything cost. A lot.

China is engaging in a tactic that is very common in other industries, something called economies of scale. They have invested in the best infrastructure around, as well as maintenance and perhaps R&D, and now they want to max their capacity to maximize the investment. They do this by filling orders from other countries.

Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 1 STEEM. Not much but always something :)

Yours
Piotr

You got a 9.26% upvote from @postpromoter courtesy of @crypto.piotr!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

Hello @crypto.piotr In a way I thank you for reaching out. I am not aware of this until now. China's 'plan for a better world' (Belt and Road, putting up Military bases inside Philippine Territory, to name a few) is made right and looked right. They justify it with reasons leading to more questions and thus one is left with nothing but to agree, take no side or to question again.

Well, anyway I found this very appalling, them printing money for other countries. But isn't this in a way inevitable? I mean, almost all products are made in China nowadays. It's only a matter of time that they printing other countries money. I wonder what is next!! :(

Plus Check out this link if it helps.
https://www.scmp.com/news/china/society/article/2158782/why-other-countries-are-giving-china-licence-print-money

hi @keket

Im glad that you visited my post and shared your knowledge with us. Appreciate it.

They justify it with reasons leading to more questions and thus one is left with nothing but to agree, take no side or to question again.

Very true.

I mean, almost all products are made in China nowadays.

I live in south-east asia for many years and it seem that most cheap production is moving out from china already. Mostly to Vietnam. China is simply becoming to expensive.

Thank you for that link.

ps. Since my voting power is quite low and upvoting your comment wouldnt benefit you much, I decided to transfer 0,5 steem to you as a token of appreciation.

Yours
Piotr

Honestly it was interesting for me since China has been bullying the Philippines for many years now. It got me wondering what else are they up to nowadays. Mmmm. I see they've been busy!

I do hope someone will do something about this and so that it will not spread.

China is indeed a "Sleeping Giant" waking up...

I thank you for the transfers. You made them twice I hope it was not a mistake. Do tell.

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I didnt know that china has been bullying the Philippines.

Could you please tell me more about it @keket?

I thank you for the transfers. You made them twice I hope it was not a mistake. Do tell.

I guess accidently I wanted to show my appreciation to you twice :)

Yours
Piotr

  ·  last year (edited)

Thanks to support me @princeuk12 and do follow you

  ·  last year (edited)

Well @crypto.piotr, printing money costs at least 7 cents (for the new euro banknote) i bet china can do it for a fraction. Running their slavery business is not sustainable at zero interest rates so they need to find a way to cut costs.

Funny how all the newspapers are trying to convince us that fiat money is the only real and save money. It's becoming more and more a sad joke.
Hope the common people start realizing this soon.

hi @exator

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Hii @crypto.piotr , I hope you are doing great. Well I rarely speaks on something related to politics but I think it's something important topic to speak on and I have a reason too.

So, printing currencies is becoming very costly day by day and many countries can't afford it. But the Chinese government are printing it in a very reasonable price so most of the country's take help from the China. Although China is a very reputed country so it's nothing to worry about. But if something happened then our own country's government will responsible for it.

It's nothing to worry about:)

Have a great day and wonderful night 😊😊

Wow. How do you know all that stuff @freecrypto. In your age to have that knowledge - amazing.

Cheers
Piotr

Thanks for the compliment, just trying to upgrade myself daily:)

hi @freecrypto

I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Cheers,
Piotr

Hii @crypto.piotr

I'm glad to hear that there are still some people left on steemit, who's trying to help the community :)
I know 0.5 is not much but it's enough for my 5 lines comment 😊😊.

I'm waiting for your next tasks or project, please bring it soon :)

Have a great day and wonderful night 😊😊

Great to have you back my friend. I have been absent also the past month, but keep coming back and reading silently all the posts. I actually didnt know about it that china is printing money, which is not their own country. Quite surprising. I agree with your opinion, that this could lead to high inflation rates as well as destabilization. Definetely a thing to keep an eye on...

hi @bumshak

It's great to be back :) What keep you busy lately? work?

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Yeah, I couldn't do anything also shortly after HF20. Also lost all my voting power, which needed to be regenerated for almost 5 days now. Work currently keeps me busy. New job is quite fun and I got super nice collegues, but still when going back home from work I'm super tired and don't want to do anything except for taking a shower and then going to bed. I hope that I will find some time on the weekends to be active on Steem.

Thanks, @crypto.piotr. My friend.
It has been long
Nice post

It seem nepal has been printing money from another before granting it to china the contract in 2015 and even Nepal excecutive director of Rastra Bank said;
“Bhuban Kadel, executive director of Nepal Rastra Bank, said the printing cost in China was lower, telling Chinese media outlet Xinhua: “The quality is as good as the ones printed earlier in another country but the cost is less than half of the amount we had earlier paid.He said printing notes in China saved the Nepalese central bank $5.17 million."
Today, notes from Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil, and Poland are also being produced for foreign clients.
https://www.google.com.ng/url?sa=t&source=web&rct=j&url=https://amp.news.com.au/finance/economy/world-economy/china-is-printing-foreign-currencies-on-a-massive-scale-according-to-a-new-report/news-story/7d0a98d20f74698e0ac678d50cf7bcb1&ved=2ahUKEwjC9J_l4NDdAhWlDsAKHQrrDkIQFjABegQICBAB&usg=AOvVaw08J7hRCAzTFXbAQU8jcQs8&ampcf=1

I think the consequences is that the host country will be dominated by china and also overdependent.
I also read in another place that it also link to the Belt and Road Initiative plan.

Thanks for this amazing reply. I totally appreciate your time and effort @oclinton

Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Again thx for sharing your view and adding those links. Will check them out soon :)

I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Yours
Piotr

Thanks my friend.

No creo que ningún país se comprometería a dejar a otro estado la producción de su dinero nacional sino hubiera suficientes garantías internacionales y supranacionales.

No obstante sin todas estas variables plantadas y mantenidas en el tiempo, los que manejan el mundo no tendrían manera de crear crisis que satisfaga sus planes.

quien_controlara_laeconomia_verde2_0.jpg

There is a lot wrong with this notion of a country giving there own financial power to another country.
But i want you to understand something, which is, this things didn't just start now, it starts with small contract signed, and gradually the power of the less nation starts getting lesser while the big man(China) wield more hands, till it gets to the point where you have no power anymore.

Secondly, this is majorly caused by Hihh rate of corruption in a country, leaving the government to have no choice but to give such a right to another country to eliminate political money laundering.

And yes, china is safe to a point in printing money.

This comment was made from https://ulogs.org

hi @botefarm

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

China always has an end game and I don’t trust them. Just hope they don’t takeover the economies.

hi @fredkese

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

I've noticed that we seem to share a number of interests :) In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)

I will follow you closely.

Yours
Piotr

  ·  last year (edited)

owen wilson voice "wow just wow" i think it is clearly a security risk and financial risk if china prints too much of a countries currency and just start curculating it that currencies value will decrease dramatically impacting millions of lives and companies and i think my countries currency is also printed somewhere else

hi @khussan

Im sorry for such a late reply.

Most of all: thank you for your kind comment and for resteeming my post.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

yeah hf20 made it really hard for a lot of people

All currency not backed up by gold,silver or something of tangible value is worthless in whatever country you live in!!!

Here in America our money is a joke
We should all print our own personal money. Has the same value

When I was a young man
I could go to any back and exchange a 20 dollar bill for 20 dollars worth of gold

Today's banks don't know what gold looks like.

I think it's mostly just numbers on a screen
And the fake bills and coinage don't matter as much in today's world

No matter who prints them!!

Posted using Partiko Android

hi @benfreed

Thank you for your kind comment and for sharing your view with me.

Appreciate it a lot.

Yours
Piotr

outsourcing like this makes it likely those countries will see incremental inflation, a great reason to buy cryptocurrency instead of fiat. it's funny to see china taking America by the balls like this however, it is as mentioned in the business insider article you link a sort of symbolic blow to US sovereignty. global superpowers are shifting, an exciting time to witness

hi @andy94

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

  ·  last year (edited)

It may be a threat in some aspects but in others I see this as just another job outsourced to China. Do you know if the governments of these countries gave China the authority to do this or are they doing this on their own? I am assuming the governments gave them the authority to do so.
There are certainly some troubles associated with this outsourcing. If you allow one country to produce another countries currency you enter a whole can of worms in my opinion. The situation I foresee is a country like Poland disagrees with something China does or produces and makes it known that they want to stop their relation with them. China then says no, you will buy this product or retract your statement or we will crash your currency. They could easily do this by just far overproducing the currency and selling it everywhere to cause drastic inflation. It is a scary situation to be in for sure.

Good morning @cmplxty

It may be a threat in some aspects but in others I see this as just another job outsourced to China

This is indeed job outsourced to China. The question is: how to ensure that this job will not fire back at any of those countries. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Not to mention that China likes to bully and control other countries (pretending to be trying to help them).

I am assuming the governments gave them the authority to do so

That's also my assumption. But to tell you the truth ... I dont know :)

ps. I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Yours, Piotr

Hey how’s it going it’s @tornadoman and i just wanted to say my account is slowly growing

hi @teenagecrypto

thanks for stopping by :)

es preocupante leer este tipo de noticias la cual puede en poco tiempo desestabilizar la economía de un País. los gobernantes deben cuidar este tipo de contratos con otros países. la elaboración de monedas sin respaldo alguno aumentaría la inflación y el caos económico. y en Venezuela tenemos mucha experiencia en esto, ya que estamos viviendo la peor crisis en mucho tiempo.

Its funny anyway, but this will lead to influencing of the economy of these countries by the Chinese government and may lead to flooding the markets of this countries buy the china products leading to total dependence and may lead to... Hmmm 😕 to me its not really cool.

But on the other hand it may lead to better and flexible trade

hi @ogt

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

oohh interesante

  ·  last year (edited)

It's very probable that China would have offered more than just cheap printing costs as incentives to get such contracts -- big credit, no doubt.
I'd be more concerned with that aspect than the potential opportunity for "bad actors" within China to exploit printing presses for reasons like serialization control from the Polish side and China's stranglehold on all aspects national security -- counterfeiting would fall under straight up criminal activity rather than corruption. When such contracts are awarded it's reasonable to worry about corruption, but mostly on the Polish side.

That said I'm surprised by the fact that India was willing to go there -- they have a very real and somewhat tense territorial dispute with China.

Good morning @eccles

Thanks for sharing your view. It seem that we're both on the same page here.

When such contracts are awarded it's reasonable to worry about corruption, but mostly on the Polish side.

Yeah. you nailed it! :)

Again thx for sharing your view.

ps. I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Yours
Piotr

It is really an interesting question. At first china began its market reforms in the late 1970s, it has lifted more than 800 million people out of poverty, slashing the rate from nearly 90% in 1981 to under 2%, as measured by the World Bank’s . Now they have such strategic plans which benefits them and others. I heard that china has produced so much electricity in their country that they are now providing free electricity to their business men (at a very low cost). China has many more projects like a CPEC .Even big companies manufacture & produce their phones in china. So it is better to keep crypto currency 👍👍👍

hi @me-atif

Thank you for your kind comment and for sharing your view with me.

Appreciate it a lot.

Yours
Piotr

Well, there are always two sides of a coin. The advantage would be a more cost efficient way of producing that money. The disadvantage would be certainly a lack of control. Could you be certain that there is not printed more than agreed? If there would be a breech of contract, what could a country do against it, which measurements could be taken and I consider that question as a huge potential problem. A country should always always always be in control of the printing of its own currency. I think everything else could undermine the trust of the population in its own government and that could destabilize a country, apart from the possibility of not knowing how much of a currency is printed.

hi @ohmygoodness

Thanks for sharing your view. It seem that we're both on the same page here.

Appreciate it a lot.

Well, there are always two sides of a coin.

Indeed. Im just not seeing that bright side of this coin. Saving some money vs taking such a huge risk may be just not worth it.

ps. to show my appreciation for your valuable comment I've transferred you 0.5 steem just now. It's not much. But always something :) (my voting power is to small to really give you solid upvote)

Yours
Piotr

Thank you Piotr :) Highly appreciated!

Hi Piotr, good to see you posting again. This was entirely new for me, and i can understand you concern. On the other hand i would assume, there should be sufficient checks in place. And maybe the threat is less severe, considering that nowadays cash makes only a small fraction of overall money supply, so not sure if cash yould make an impact on the national level.

hi @conceptskip

It's great to be back too.

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Interesting article @crypto.piotr! I was under the impression that Indian currency was printed by this french firm, i cant recollect the name. However, its bizarre that any country would allow any firm in china to print any currency. I will try and read up on this more. However, given lack of information from china, lack of any governance, this could have such massive implications. I am perplexed, how can this happen?!

Great to hear from you @karamyog.

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

  ·  last year (edited)

We living in this earth, there is allows an advantage and disadvantage to every thing that happens in the world wide. So @crypto, If china is printing money for your country and other countries . I will say, it is a way of gaining effective public relation and also making awareness to the public. It could sound as threat because as i have said earlier there is demerit and merit in everything that goes on. if your country is one of them, then your country have to check the steps and limit there have to certain thing which could cause harm to the citizens of your country.
my regards @abduloniz

Great to hear from you again @abduloniz

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

.

I think it poses a threat to the country concerned, How can I trust another country to print my motto? It's dangerous for my economy.

These countries that handed over their rights to print their own currencies to China, have indirectly handed over their values or worths of their respective countries to China. Though, the Chinese Government might paint the picture of lower cost of production of these notes as a major benefit of this act, but in the real sense, these countries are being dominated by the Chinese whether they are aware of it or not. So, if a country claims to be independent, they should prove that in all ramification. Nice post!

currency-163476__340.jpg

hi @henroo84

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

Hi @crypto.piotr,
Nice to read from you again man! It's a very interesting topic that you brought up.

For a country printing its money has become quite an expensive enterprise. Not only for the country but also for the banks and shops. In countries like Sweden it is almost impossible to pay with banknotes nowadays. Other countries will follow. So to print ones banknotes is equally expensive and some countries are ready to let their banknotes being printed in places like China where the costs are just much lower. There aren't many companies that are able to produce banknotes that cannot be counterfeight. So even if the banknotes are printed in China I truely believe that the countries that did that took all the necessary steps to insure that there are safe from coercition. Probably they bought a big stock which is then stoked within the bounderies of the country.

The printing is only one part of the problem. Even if a country prints its banknotes within its bounderies it might still need to import the paper or the ink...

hi @achim03

It's nice to read from you too man! :)

I've noticed that you were not very active lately here on stemiit. Hope you're alright?

Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Yours
Piotr

Hi crypto.piotr,
Thanks a lot for your answer and the very generous gift! I still believe in steemit and I invested some satoshis and powered up a bit. At the moment however I just don't find the time and the ideas to write new posts. I'm sure however to be back soon ;-).
Best regards,
Achim

Actually I'm pretty sure a British company Thomas de la Rue prints a lot of the banknotes in circulation in a lot of countries, shouldn't we be worried about the UK having that kind of influence? I'm from Honduras I'm pretty sure our banknotes were made by Thomas de la Rue, I'm not sure if they still are.

hi @gduran

Thank you for your kind comment.

The thing is that UK and China have very different value. Being transparent and fair in business/politics is definetly BIG no in China.

ps. Ive never met anyone from Honduras. I've watched number of documentaries lately about your country and some of them were breaking my heart.

All the best to you @gduran
Yours
Piotr

            ( You get this comment only about once every 3 resteems - if bothered reply OFF )

Your post got resteemed and upvoted. Thanks for being a subscriber of my service!                          ...

I think more than anything, that if the countries that are already named are in debt to China and are destabilizing them indirectly, the indebted countries will have to pay the debts in some way, the Chinese, I think, are about to become a superpower ( I think I read an article that would happen in 2025), they will take advantage of as much land as they can, in Africa, for example, and they will hire and create jobs taking everything they can.

hi @mostaza

Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

Yours
Piotr

The answer is to buy Gold and Bitcoin/Crpyto :P

hi @sames

Well, your answer didn't satisfy my curiosity :)

Cheers
Piotr

The minting of a country's currency is supposed to be the job of the country's central bank. I wonder why some countries take their currencies to outside countries to print for them. Is it that they can't acquire the minting equipments or they don't have the skilled professionals to operate the machines once bought. It's very risky to take the minting of one's currency outside but most countries do it and i don't understand the motive behind such action.

hi @resuscitate

Im sorry for such a late reply.

Most of all: thank you for your kind comment.

I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.

The minting of a country's currency is supposed to be the job of the country's central bank

It seem that we're on the same page here.

Yours
Piotr

If I china is printing currencies for multiple countries that means he's getting ready to take over the global trade and become the superpower in the process. China is doing this according to the Belt and Road initiative BRI. To gain more power and get a better stronghold at smaller and underdeveloped countries like nepal, Bangladesh etc

hi @umairx97

Thank you for your comment. And sorry for such a late reply.

Just checked your profile just to realize that we seem to share a number of interests :)

In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)

I will follow you closely.

Cheers
Piotr

I find it worrisome that this happens, since after this fraud or problems with the production of money can occur

thank you for your comment @textreme and BIG THX for resteeming my post.

I appreciate it a lot.

Yours
Piotr

Well, it's definitely concerning at multiple scales... I can see many other solid comments above so it's definitely hard to add more value to what's been said but let me try to do so.
I suppose from an economical viewpoint it's possible to save some cash by making china print the physical notes but even if there is safeguards and many measures to protect the contract and assure it doesn't get violated the risk is immeasurable.
I would understand really small nations like the ones mentioned in a comment above: neighboring countries who possess some degree of trust, but China? Western and asian cultures are too different, the dangers are too great in my humble opinion.
However they're only printing the notes which is only a fraction of the true capital reserve held by the country in digital format so the damage is limited to some extent. The real danger lies in the chinese printing above their contracts and flooding the market...
Also, the cost of transportation of these notes + the safeguards to minimize dangers are feasible?

As you might remember I'm both an enthusiast and an hater of decentralized currencies but I'm all 100% convinced that money should stop being printed and all transactions be done through digital devices, peer to peer transactions through phones isn't impossible and there are many other options as well...
I think it's dangerous but I also think they might be doing it for some short term solution while planning ahead, or at least I'd like to believe so, Poland is a beautiful country and it would be a shame to see it end like Venezuela or my own country.

Thanks for this amazing reply. I totally appreciate your time and effort @ejgarcia

Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.

I suppose from an economical viewpoint it's possible to save some cash by making china print the physical notes but even if there is safeguards and many measures to protect the contract and assure it doesn't get violated the risk is immeasurable.

I also believe that process of ensuring that those printed money are following "standard" (are always real) must be expensive on both sides.

Western and asian cultures are too different, the dangers are too great in my humble opinion.

You nailed it. I think people blidnly believe that China has similar values to our western society. Which is far from truth.

Poland is a beautiful country and it would be a shame to see it end like Venezuela or my own country

Indeed it is sadening to see what's happening in Venezuela and Cuba :(

Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)

Yours
Piotr

Thanks, it's always something, though I wasn't expecting anything, just wanted to share an opinion :D
Feel proud of supporting others, it all comes back to you in the end (or at least I'd like to think so)