VOLTE FACE
18 months ago, not one member of FED gave a damn about the digital Dollar.
Why the change of heart. China launches it CBDC soon and despite the chaos im confident it will launch and fly well. 8% REER apprecaition since covid is a clear statment of intent by Chinese.
18 months ago, not one member of FED gave a damn about the digital Dollar.
Why the change of heart. China launches it CBDC soon and despite the chaos im confident it will launch and fly well. 8% REER apprecaition since covid is a clear statment of intent by Chinese.
https://twitter.com/CurrencyWar1/status/1440990812339331072
China began its DCEP project after 1.0 trio outflows from 2014/2017 with a large proportion of those outflows via stablecoins and #BTC. China's ambition is to upend Dollar hegemony, the evergrande bankruptcy is a perfect case in point with international capital markets concerned
she will make her offshore Dollar bond repayments.
China cannot hope to defend its borderss with a weak currency. Outflows have been for china and most other EMFX a true doom loop and the evolution of a CBDC is PBOC's attempt to stem that capital flow offshore.
China cannot hope to defend its borderss with a weak currency. Outflows have been for china and most other EMFX a true doom loop and the evolution of a CBDC is PBOC's attempt to stem that capital flow offshore.
So a hierarchy evolves with Bitcoin initially a threat to Yuan Sovereignty & in turn, Yuan trying to upend Dollar hegemoney. The Fed has to respond with the result that #bitcoin is caught between two gorilla's fighting it out for supreamacy. See why China targets BTC in attached
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