Big Brothers Are Fighting For World Domination

The struggle for world domination is never-ending. Governments, with their armies, fight to control not only their population but also the rest of the world. The tools and battle strategies may change, but the goal never does.

Immediately after finishing our article about digital currency combined with negative interest rates, Chuck Butler wrote “China’s Digital Currency Is Ready For Prime Time”:

“The digital yuan, domestically branded as the Digital Currency/Electronic Payment (DCEP) project, is not only set to disrupt the country’s well-developed mobile payment industry and create new efficiencies in the Chinese economy but could also challenge the supremacy of the dollar.

I think China has switched horses in the middle of the stream and decided that their digital currency has a better chance of disrupting the dollar as the reserve currency….”

Business Insider quoted Fed Chairman Jerome Powell discussing digital currency:

“A digital currency developed by the fed is a high priority project for us. We are committed to solving the technology problems….

…. As the world’s reserve currency, Powell stressed that the US doesn’t have to be first in issuing a digital dollar, but it needs ‘to get it right.'”

Is China winning the digital currency race?

The New York Times (NYT) reports, “China Charges Ahead With a National Digital Currency”:

“The right to issue and control digital currencies will become a ‘new battlefield’ of competition between sovereign states,” read an article in China Finance…. “China has many advantages and opportunities in issuing fiat digital currencies, so it should accelerate to seize the first track.”

…. It will give the central bank new powers….

In one possibility that economists have discussed, a central bank could program its digital currency to slowly lose value so that consumers are encouraged to spend it immediately.”

Chuck Butler warns that digital currency will lead to negative interest rates and total government control. I told Chuck, “This is downright scary!” – hoping he would calm me down. He didn’t….

It’s time to get his input.

DENNIS: Chuck, once again thanks for your time educating our readers. Before we talk about China, let’s discuss digital currency in general. You have warned us that one day we will wake up and dollars will be replaced with digits; with outlawing cash soon to follow.

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