The Coming of the Yuan

 

 China Is Replacing Paper Money: 

 Digital Yuan To Be Implemented By 2022 Olympics

U.S Launching Fedcoin.

China began developing digital currency in 2014.  In April of this year, the People's Bank of China confirmed electronic payments are in test in four of the 24 Chinese provinces.

Reuters reports China would implement their digital currency system before the 2022 Bejing Winter Olympics.

Since testing begun:

• China's digital currency has executed 3.13 Million transactions for 1.1 billion Yuan.
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• 113,300 personal "digital wallets" and 8,800 corporate "digital wallets" created by their central bank.
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• Every transaction is monitored by the government.
  

Crude oil is sold in US Petrodollars. Eight countries have dropped using the U.S Dollar for the new Chinese Petro Cryptocurrency.  They include:  Russia, Saudi Arabia, Angola, Iraq, Iran, Brazil, Venezuela and the United Arab Emirates.  This is a consequence of our printing more money than our economy produces in goods and services.  The 1913 Dollar is now worth a 2020 penny in terms of goods or services in exchange.

The Yuan is now the first global currency to become digitized and backed by gold.  While we have long thought "backed by gold" was silly as it is a useless metal other than for jewelry and decorations as "leaf" on wood, the world does not see it that way and loves gold.  In the eyes of the world the United States has no choice but to follow China as the value of a currency is not what we think of it, but of what others think of it.  We have lost the imperative by turning our manufacturing over to Chinese slave and near-slave cheap labor for quick profits by our entrepreneurs.

Congressional banking subcommittees in the House and Senate met earlier this year again to discuss America's new digital currency, the Fedcoin.  In my quest for a Nobel Prize in Economics I propose we return to the days of the "banknote" concept when banks printed their own currency as it was all based on the wealth of the members of the bank.  Thus, the "banknotes" had real value in the economy.

In the days of barter trading when 98% of the people lived on farms we were forced to trade commodities in fact. You would take bushels of grain, hams  or fish you had smoked, animal pelts you stretched, dried and made ready for incorporation in a coat or hat and so on through an endless list of goods produced locally for trade.  

The problem was to come to a trade.  How does a bushel of corn relate to a beaver pelt?  This was all simplified and made equitable by having banks print trading notes representing a certain amount of grain or whatever, to better facilitate trading.  It worked, awkwardly, but it worked nonetheless.

Every problem we have had with currency has been that we have not been rigorous about the value and our Dollar of today is worth one penny from 1913!  If we were to evaluate the value of all our goods and services today and define our currency based on that value, which can be determined every minute of every day thanks to computers!  Our currency problems would vanish in the mists of data if it were tied to our real wealth:  The value of our goods and services at that moment.  In all likelihood, that day will only come after the next economic crash as we seem only to make good decisions at the gunpoint of reality.

• The Federal Reserve announced August 14th that the central bank is partnering with the Massachusetts Institute of Technology researchers to build and test a digital currency.  We can only hope the work is not done by the "Gender Studies" professors.

When America launches it's Digital Currency, it's going to be a disaster for your privacy and your wealth but we will all be better off anon. (soon)

FedCoin, like the digital Yuan, will give the government an ability to track every transaction.

They will know every one of your purchases and how you choose to spend your money.

Physical cash gives you anonymity when you transact with Dollar bills. Only you and the other party know about it.

With the Fedcoin, all transactions will be recorded in a centralized government database.  Everything you do will leave a permanent record for the feds to monitor and track.

• Fedcoin can be programmed so that certain transactions can't take place. For example:  If you're overweight, you can't buy sweets. If you have a felony conviction, you can't purchase a gun or ammunition.
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• Fedcoin will be programmed to prevent individuals access to anything the government deems inappropriate for them.
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• If you don't obey the government, your federal reserve digital account can be depleted by the click of a mouse until you conform to government whim.
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• Fedcoin is embraced by progressives to make all Americans have just one “universal basic income” that they can more easily tax.
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  The manipulation of currency is the last bastion for those who want to manipulate the people as well as those who want to clean the system of opportunities for manipulation and skullduggery.  It is unfortunate that we cannot be sure of the intentions of those arguing for change until it happens and there are changes that can be fatal for our constitutional republic.
  
  Adrian Vance