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RE: Is China Keeping The Dollar Artificially High?
Dirty money, dirty games people play. Money pegged like this always a dangerous game. Chinese also bought up gold when markets sold their stake in gold to back their fiat currencies, question is who is forward thinking.
@tipu curate
Upvoted 👌 (Mana: 5/10 - need recharge?)
Yes the Chinese and Russians have been buying up tons of gold and I think it’s to try and peg it to their holdings and be one of the more “sound” and “stable” currencies around once they feel they have enough and will drop the dollar like hot cakes and open the trap door that sees it fall
That’s why I’m always so keen to stack more Satoshis
Wise idea to stack more and hold, moving around all the time does not always provide growth.
As for the US$ there was a time when we traded in countries fiat on export/import, this changed early 1990's making the US$ become dominant in markets which I always said would backfire one day.
Going with EURO another wrong move made in early 2000's. Hedge funding along with inflation is driven all to enrich those who have.
My gut feel leans more toward technology change into cryptocurrencies, who knows it another can of worms is being opened, we can only hope to reach a happier footing, compared to this now archaic system, our world has changed people will have to follow.
I also think so that crypto will be a way to hedge against anything that seems to be manipulation in fiat and be a sort of counter balance in the future to keep from value being abused, misused and reduce mal investment which is currently being rewarded
Will be interesting to see if new technology will tighten the framework, people always seem to find a way to abuse most everything.