2021 Apr 15, 5:29pm
319 views 17 comments
The effect of this intentional ostracism has been to push Russia closer to communist China and into adversarial brinkmanship with U.S.-E.U. interests.Likewise, by largely ignoring China's decades of human rights abuses and normalizing trade relations at the turn of the millennium in an effort to tame a large but poor communist country through globalization and cultural assimilation, the United States has instead elevated China to an economic powerhouse increasingly capable of bending the West to its will. After hollowing out America's manufacturing and industrial capabilities and orchestrating the largest intercontinental transfer of wealth in history from America's post-WWII middle class to China's emerging middle class, the U.S. now finds itself in a defensive geopolitical posture with a combination of national debt, crumbling infrastructure, and dependence on Chinese raw materials and imports endangering America's rules-based international order. ...Both China and Russia are deleveraging from American dollars, increasing their gold stores, and preparing for a future when the dollar is no longer the world's reserve currency. Without that ace in the hole, the U.S. loses not only its ability to continue printing and spending money without enduring the normal consequences of monetary devaluation and collapse but also its ability to inflict financial sanctions as a way to "club" other nations into obedience. A Sino-Russian alliance that utilizes Russia's oil, coal, and natural gas leverage over Europe and its outsized military capabilities; China's manufacturing dominance and Belt and Road Initiative extending across and linking Asia, Europe, Africa, and South America; and both nations' wealth of natural resources puts them in a strategic position to forge a stable gold-backed digital currency that will instantly interconnect most of the world's population.It is in this volatile reshuffling of global power that an often addled and confused Joe Biden attempts to confront the military chess moves of Russia and China...
to forge a stable gold-backed digital currency
You don't have money in the bank. The bank just has a debt to you.
Namely, what is the definition of 'backed'
Gold does have some limited industrial uses, but for all practical purposes it is worthless.
The mining of gold is mostly a wasted activity, as again there is very little actual value to the metal.
Means everybody will just believe CCP that they are good for it.
We currently have the best monetary system the world has ever had.
Under a gold regime, if the world-wide population increases by 2 billion people, then the amount of gold that would need to be mined would be staggering just to keep the same level
Eric Holder saysMeans everybody will just believe CCP that they are good for it.Like they believe all of China's economic stats?