Cryptocurrency: Dangers of CBDCs, BIS Regime of Total Control, WarOnCash, ARRR
grarpamp at gmail.com
Mon Jul 12 14:44:59 PDT 2021
Witness Govt's propaganda and infighting each other
racing to first CBDC's for total control over you, same
with Corporate DC's.
The job of distributed permissionless uncensorable
privacy enabled cryptocurrencies and DEX is to moot
them all, thus keeping you free.
The Guardian's UK/US site editor in the Asia Pacific timezone argues
that China wants to undermine bitcoin because, behind the scenes, its
reserve bank wants to set up its own digital currency — and then
reboot the international financial system: The People's Bank of China
aims to become the first major central bank to issue a central bank
digital currency. While the PBOC's counterparts in the west have taken
a more cautious approach, it has held trials in several major cities
including Shenzhen, Chengdu, Shanghai and Hangzhou. The benefits of an
e-currency are immense. As more and more transactions are made using a
digital currency controlled centrally, the government gains more and
more ability to monitor the economy and its people.
The rollout is also seen as part of Beijing's push to weaken the power
of the U.S. dollar, and in turn that of the government in
Washington... Alarm in western governments is such that the threat
posed by the digital yuan, which could put China out of reach from
international financial sanctions, for example, was discussed at last
month's G7 meeting.
There's additional reasons for China's desire to replace bitcoin with
its own currency, various experts tell the site. No central bank
relishes the thought of a "parallel currency" — and there's also
concerns about consumers being hurt by a lack of regulations, as well
as the strain crypto-mining puts on the nation's electricity system.
But the Guardian also adds that "The threat of an unregulated
alternative monetary system emerging from blockchain technology is a
clear and present danger to the Communist party, according to
"Jim Cramer, a former hedge fund manager and CNN business expert, said
the government in Beijing "believe it's a direct threat to the regime
because... it is outside their control".
More information about the cypherpunks