Kyle Bass: China’s Digital Currency is a ‘Trojan Horse’ to Project Digital Authoritarianism | CLIP

[Ellanjay]

Kyle Bass: China’s Digital Currency is a ‘Trojan Horse’ to Project Digital Authoritarianism | CLIP​

Kyle Bass likens China’s digital yuan to a ‘trojan horse,’ saying that because it is a centralized currency controlled by an authoritarian regime, it can be used to influence important people. He also says that while the CCP is unlikely to succeed in making the digital yuan the global reserve currency, he believes that even if a small amount of people use it, it will become a big problem.

 

[Decapoda]

Kyle Bass: China’s Digital Currency is a ‘Trojan Horse’ to Project Digital Authoritarianism | CLIP​

Kyle Bass likens China’s digital yuan to a ‘trojan horse,’ saying that because it is a centralized currency controlled by an authoritarian regime, it can be used to influence important people. He also says that while the CCP is unlikely to succeed in making the digital yuan the global reserve currency, he believes that even if a small amount of people use it, it will become a big problem.

As the US government continues to devalue their dollar through their destructive and unsustainable fiscal MMT policies and the Fed continues with it's out of control money printing, it's inevitable that there will be an increasing demand for alternate currencies. There's little doubt that China's digital currency will be seen as an attractive option. It will likely take off slowly at first, however as the US runs out of magic tricks and shell games to camouflage the dire state that their dollar is in, it will gain in popularity.

Barring any major monetary policy shift like Jim Rickards prediction of the return of the gold standard, I suspect you will see a dramatic increase in government backed crypto-currencies into the future. It only remains to be seen which one will end up being the new world reserve currency once the dollar is dead.