Could China Dethrone The U.S. Dollar With A Digital Yuan?

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  • čas přidán 24. 07. 2021
  • The U.S. dollar remains the world’s de facto monetary reserve, but with China going full speed ahead with its digital yuan, that could be in jeopardy. Researchers are digging into regulated online money called Central Bank Digital Currencies, or CBDCs, and what that could look like in the U.S.
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    Could China Dethrone The U.S. Dollar With A Digital Yuan?

Komentáře • 1,9K

  • @potatomatop9326
    @potatomatop9326 Před 2 lety +786

    How are rappers gonna flex money on music videos now, by showing their phones?

    • @broketostoke
      @broketostoke Před 2 lety +74

      They'll just keep buying cars and chains and watches with money that isn't theirs...

    • @boricuaboy4e
      @boricuaboy4e Před 2 lety +19

      Yeah instead of having it in money they'll have it on digital phone wallets 😂😂 all u see is phone flying everywhere with a digital dollar 😂

    • @DeusEx.Machina
      @DeusEx.Machina Před 2 lety +15

      I mean, if there’s a one good reason to switch to a CBDC, I think this is the best one.

    • @jayyyzeee6409
      @jayyyzeee6409 Před 2 lety +19

      How will they make it rain at strip clubs with crypto?

    • @sillycybin420
      @sillycybin420 Před 2 lety +4

      @@broketostoke it’s all rented

  • @jayar98
    @jayar98 Před 2 lety +142

    When the Graphics department is on vacation.

  • @xXxserenityxXx
    @xXxserenityxXx Před 2 lety +89

    It's weirdly written like no single person is aware of how money works...

  • @gg3675
    @gg3675 Před 2 lety +190

    "The digital yuan is the largest threat to the west that we've faced in the last 30-40 years." Damn I don't remember the last 30-40 years being THAT chill

    • @pettypractice7872
      @pettypractice7872 Před 2 lety +10

      Well Kyle Bass is also a clown so I would take whatever hilarity he spews with a ocean's worth of salt

    • @gg3675
      @gg3675 Před 2 lety +17

      @Tony Montana The "dominance" of the dollar is not related to my wellbeing as an American. I'm working class. We used to have a very strong manufacturing sector where I grew up, but the dollar's status as the world trade currency arbitrarily makes American exports more expensive, killing American jobs and forcing my friends and family into hardship.
      "The west" to him doesn't mean America, it means the people who dominate the global financial system.

    • @Aramsa-Khan
      @Aramsa-Khan Před 2 lety +8

      Not to the west. More particularly to the US. Period.

    • @amobilway1032
      @amobilway1032 Před 2 lety +2

      Yeah, it really isn't a big deal. Especially since around 90% of all forex transactions are in USD.

    • @badluck5647
      @badluck5647 Před 2 lety

      They said the same thing about the Euro supplanting the dollar 20 years ago.
      Also, no one outside of China is going to want a digital currency that is tracked and controlled by the Chinese Communist Party.

  • @alexchia0121
    @alexchia0121 Před 2 lety +48

    While the world is already doing it. US is still discussing should they do it.

    • @michaelbishop3439
      @michaelbishop3439 Před 2 lety +5

      I think this country is totally conflicted on starting an American digital currency 💱

    • @Aramsa-Khan
      @Aramsa-Khan Před 2 lety +2

      They have only one thingy to consider. That is whether it will have any impact in the rich elitists. They will drag their feet if it does. The slow implementation can be inferred as they finding ways to circumvent it for themselves. Don't think they care for the masses.

  • @ikennyikenny
    @ikennyikenny Před 2 lety +255

    people in the US are still using cheques , that says alot

    • @ncabcabin
      @ncabcabin Před 2 lety +34

      What are cheques? Sounds like a Mexican dish.

    • @asianpleyco7964
      @asianpleyco7964 Před 2 lety +45

      @@ncabcabin fancy word for checks

    • @Liboch
      @Liboch Před 2 lety +17

      I still have a pad of cheques/checks, last used more than 10 years ago, will give to my kids as inheritence, to be exhibited in museum.

    • @asphere8
      @asphere8 Před 2 lety +11

      Yeah the bit at 2:17 was what made me realise just how US-centric this video's perspective is. It's a whole video of "what if we did something ridiculously overcomplicated instead of just catching up with the technology the rest of the world is already using?"

    • @moreplease394
      @moreplease394 Před 2 lety +6

      The only people using checks in America are old people and scammers and sometimes poor people who don't have bank accounts

  • @PhilipMurray251
    @PhilipMurray251 Před rokem +73

    Digital currency is the future of finance, anybody still in doubt of that isn't in touch of reality.

    • @Robertgriffinne
      @Robertgriffinne Před rokem +3

      True, and bitcoin is at the core centre of this not-so-distant future.

    • @instinctively_awesome8283
      @instinctively_awesome8283 Před rokem +2

      @@Robertgriffinne I guess so, but still don't have a firm grasp of how bitcoin works and what drive its volatility that is always constant.

    • @tradekings5433
      @tradekings5433 Před rokem +4

      @@instinctively_awesome8283 Well, bitcoin's (and indeed all crypto) constant volatile state is mostly due to factors which include but not limited to: basic economic supply and demand, investor and user sentiments, government regulations across the countries that use crypto currencies, pump and dump practices and media hype. All of these work together to influence price volatility, which is why it's pertinent one (esp someone new) follows the guides of an experienced market pundit who already knows all the market maneuver. It betters your chance at maximum profit by more than 100%.

    • @Robertgriffinne
      @Robertgriffinne Před rokem +1

      @@tradekings5433 was about to say same thing about the volatility till i read your comment. You easily outlined the market challenges and how to circumvent it.

    • @Natalieneptune469
      @Natalieneptune469 Před rokem +2

      @@tradekings5433 you have any idea how one can find a sound adviser that may aid or probably give guides on how to stay above these challenges in one's investmnt

  • @jukio02
    @jukio02 Před 2 lety +72

    What insures the wealth of a dollar, trust? Haha, more like the US military and police force.

    • @TheKb117
      @TheKb117 Před 2 lety +7

      More like Democracy... if you oppose them, they will surely instill in you some Democracy that will shock and awe your a55e5 to the stone age, plus claiming whatever resources you have as re-education fee... IMHO

    • @user-qp4eq1oj5r
      @user-qp4eq1oj5r Před 2 lety +3

      China is maintaining the credit of the U.S. dollar

    • @wv9529
      @wv9529 Před 2 lety +5

      More like the access it gives you to the goods produced in the US economy. money is backed by GDP not by trust. It boogles my mind why people cant understand that and just go around the place saying trust , trust ,trust.

    • @ThePowerLover
      @ThePowerLover Před 2 lety

      @@user-qp4eq1oj5r Actually, not.

  • @beverlyphillips9475
    @beverlyphillips9475 Před 2 lety +153

    Success is about focusing Your energy on what creates results and using what you already know

  • @marygem
    @marygem Před 2 lety +238

    Yeah, let's have the banks and govt make and control computer money! What can possibly go wrong?

    • @Follower_Of_Xi_Jinping_Pooh
      @Follower_Of_Xi_Jinping_Pooh Před 2 lety +37

      Nothing. Just don't buy that winnie the pooh plushy or your acccount will go negative.

    • @Manish-ud4sl
      @Manish-ud4sl Před 2 lety +15

      @@Follower_Of_Xi_Jinping_Pooh Endians the superpooper are everywhere

    • @Follower_Of_Xi_Jinping_Pooh
      @Follower_Of_Xi_Jinping_Pooh Před 2 lety +5

      @@Manish-ud4sl
      Your name sounds like indian, are you one? LOL
      Or are you pakistani which looks exactly like indians?

    • @user-jc2wc9nu3e
      @user-jc2wc9nu3e Před 2 lety +1

      @@Follower_Of_Xi_Jinping_Pooh india no.1 superpower jai hind💪

    • @dohc1067
      @dohc1067 Před 2 lety +3

      If you are loyal you can eat if not you starve. Protest if you dare.

  • @josephgoldenberg9149
    @josephgoldenberg9149 Před 2 lety +207

    If I were a Bank, I’d be lobbying Congress not to allow this.

    • @bnco
      @bnco Před 2 lety +13

      It the bank that is lobbying set it up

    • @Commievn
      @Commievn Před 2 lety +59

      @@bnco No, the private banks hate this CBDC. Because it threatens their existence.
      You see, private banks are like the middle-man, they borrow from the central bank (FED) with cheap interest and lend it to other businesses with much higher interest rate.
      Inshort, CBDC would massively weaken the private banks and strengthen the Government.
      That is why China adopted the CBDC, to have more control.

    • @perfectstudents8361
      @perfectstudents8361 Před 2 lety +12

      CBDC or digital currency will drive banks out of business. Their services are not needed anymore, except probably as lenders.

    • @xiaomose7495
      @xiaomose7495 Před 2 lety +18

      @@Commievn well digital yuan will meet massive force from bank giant from the west. You know those shady banker that cause monetary crisis in 2008 😂they are still alive kicking and healthy with billions of money they cheated

    • @thomaskim5394
      @thomaskim5394 Před 2 lety +2

      How are you going to not allow Chinese from using the CBDC?

  • @theobserver6755
    @theobserver6755 Před 2 lety +18

    Since 2 thousand years ago up until 200 years ago China used to be the center of global economy, China today is not rising, they just went back to what they used to be.

    • @TheFourthWinchester
      @TheFourthWinchester Před 2 lety +3

      That was India, not China. China was second.

    • @iROChakri
      @iROChakri Před 2 lety

      @@TheFourthWinchester Nah it’s China, not India

    • @johnlone1980
      @johnlone1980 Před 2 lety +1

      It was China, not India.
      Compare the discoveries and inventions in China vs India between 0AD to 1800AD. 10 times more inventions in China.

  • @LaowaiDaveJCP
    @LaowaiDaveJCP Před 2 lety +25

    0:33 NO even if you go to a 5th tier city in China, the digital payments is everywhere used by millionaires to beggars(i mean literally beggar carrying payment QR code)

    • @youtubeuser1946
      @youtubeuser1946 Před 2 lety +1

      🤣😂

    • @Aramsa-Khan
      @Aramsa-Khan Před 2 lety +1

      Telling that to the white folks, they won't understand you at all... They only think that the digital Yuan is a threat to the USD. That is what they are fed with everyday by these fake media narrative.

    • @LaowaiDaveJCP
      @LaowaiDaveJCP Před 2 lety

      @@Aramsa-Khan exactly

  • @didiaotrading4010
    @didiaotrading4010 Před 2 lety +26

    12:49
    China can hardly be more digital than it is already. The vast majority of transactions are already be done through Wechat Pay or Alipay (Chinese equivalent of Venmo or Apple Pay).
    There are loads of people who still rely on cash today, like unbanked citizen, and senior citizen that are not comfortable with smartphone technologies. The rest of the population is already fully digital. This won't have changed in 5 years.

    • @Aramsa-Khan
      @Aramsa-Khan Před 2 lety

      Most people had electronic payment system, Alipay or Apple pay and what nots. In addition they can also carry cash though not in stash but minimal sum in case. It gives one a much wider choice.

    • @589supra
      @589supra Před 2 lety

      what about for cross border instant transactions then? thats the next gen of digital payments.

    • @NazriB
      @NazriB Před 2 lety

      Lies again? Cheap ass

  • @bolesfamily1744
    @bolesfamily1744 Před 2 lety +21

    These people really understand limited elements of what is going on. This phenomenon is way deeper than they realize right now

  • @MegaShooter32
    @MegaShooter32 Před 2 lety +45

    This must be why they banned crypto mining.

    • @Dakidpepe
      @Dakidpepe Před 2 lety

      They can track watchu buy especially with dirty Money.

    • @LjubomirLjubojevic
      @LjubomirLjubojevic Před 2 lety +6

      Crypto mining is not "banned", main focus is to reduce electricity consumption because China has relatively cheap power plants but they run on coal, and Chine wants to reduce ecological impact on their population. Mining is still possible, just little less profitable.

    • @JohnSmith-iw4qs
      @JohnSmith-iw4qs Před 2 lety +1

      @@LjubomirLjubojevic or maybe you can easily transfer money out of the country with crypto. That one thing the ccp doesn't want people to do.

    • @brendonchen2550
      @brendonchen2550 Před 2 lety +1

      @@LjubomirLjubojevic really? Their c02 emission is its highest of all time . Hmmm

    • @LjubomirLjubojevic
      @LjubomirLjubojevic Před 2 lety +4

      @@JohnSmith-iw4qs as far as I know Chinese govt has banned govt/public companies and institutions from using crypto currencies, but private enteties are not affected, as far as I know. There is something about reducing electricity production from coal powerplants, but I forgot details.

  • @umairsiddiqui9900
    @umairsiddiqui9900 Před 2 lety +27

    This channel literally just copied a video from Polymatter

    • @deadguy389
      @deadguy389 Před 2 lety

      It's about China.... So it's okay.... I guess

    • @Jako4460
      @Jako4460 Před 2 lety

      It took more than two days to make this video, so I don't think so

  • @draugrdraugr
    @draugrdraugr Před 2 lety +60

    Never will it be fee free. A CBDC will just be another way for governments to tax more and manipulate money like they've always done. It's nothing like de-centralized crypto at all.

    • @ihatehandles3
      @ihatehandles3 Před 2 lety +7

      People will not pay more taxes
      More people will pay the taxes

    • @pnthien21
      @pnthien21 Před 2 lety +6

      @@ihatehandles3 But their government will force them to, sadly

    • @TheKb117
      @TheKb117 Před 2 lety +2

      @@ihatehandles3 what will prevent them to not charge more taxes?

    • @fredericoduvel3092
      @fredericoduvel3092 Před 2 lety +3

      what?
      you know you have to pay taxes on crypto and every transaction must be reported to the IRS.
      How is that anonymous?

    • @gg3675
      @gg3675 Před 2 lety

      Crypto markets, notoriously free of manipulation xD

  • @Eric345
    @Eric345 Před 2 lety +90

    What’s the difference between digital or physical money?? Isn’t credit & debit a digital currency already??

    • @microtasker
      @microtasker Před 2 lety +5

      If Visa and Mastercard were run by the Central Bank, then your hypothesis makes sense, but they're not, are they?

    • @bestintentions6089
      @bestintentions6089 Před 2 lety +16

      You will deposit money to the government so they will monitor all your transactions by default

    • @kyleharris3592
      @kyleharris3592 Před 2 lety +1

      Do you know why goods are sold in USD from China? If not research!

    • @bk-go6905
      @bk-go6905 Před 2 lety

      I think the difference is in the way they operate.

    • @worldnews4347
      @worldnews4347 Před 2 lety +4

      @@kyleharris3592 becouse for china USD is worthless...
      gold have a technical value...
      If china could accept USD as payback, USA print as manny them to pay back all depth to china.

  • @lutaayam
    @lutaayam Před 2 lety +106

    I'm most excited about the threat of digital currencies to banks

    • @Wongseifu548
      @Wongseifu548 Před 2 lety +3

      Yeah if it decentralized

    • @jermainemyrn19
      @jermainemyrn19 Před 2 lety

      Exactly

    • @yeetian2774
      @yeetian2774 Před 2 lety +2

      And The banks sport all Us elections…🥳🥳

    • @Jemz35
      @Jemz35 Před 2 lety +2

      If banks don't exist the economy will fail, people won't be able to take out loans for houses and small businesses wont have loan to start up etc.

    • @lutaayam
      @lutaayam Před 2 lety +7

      @@Jemz35 central banks will still be there, and people will still be able to lend to each other only this time without banks playing middlemen

  • @ismailnyeyusof3520
    @ismailnyeyusof3520 Před 2 lety +50

    To China, a digital currency that is under the control of its central bank plays very well to its centralised economy management ecosystem. The benefits are fast allocation of resources while the drawbacks include amplified impacts of mistakes in the allocation.

    • @microtasker
      @microtasker Před 2 lety +9

      Solid point; it's also the reason why they banned Bitcoin. They have no control over it.

    • @oceanwave4502
      @oceanwave4502 Před 2 lety +1

      The government provides financial aids, asking the person to buy books and taking courses. But they use money to buy cigarettes, s*x toys, stuff... Currently, there is no way to prevent this. China's Digital Currency is the solution.

    • @jesterjames7633
      @jesterjames7633 Před 2 lety +2

      but mistakes would be detected and corrected faster too.

    • @kickyouinhalf
      @kickyouinhalf Před 2 lety

      Mistake in allocation? Why do you think your country is so poor? Did you ever think it might be as good as China's if your country could've allocated a few trillion away from its military every year that maybe everybody on the US would be a lot better off? Xi Jinping enjoys more than 90% approval rating and it's easy to see why if you've ever been to that country. Just ask your athletes or Americans living in China what they think.

    • @roboparks
      @roboparks Před 2 lety +2

      @@microtasker The digital yuan IS NOT Block Chain Technology, It is NOT Cryptography Technology. Its a Fait currency in digital form . 2 completely different things.

  • @gracewilliams3333
    @gracewilliams3333 Před 2 lety +13

    Thank you, have been watching your channel for couple of weeks ago and it's really make sense and it really help me through..

    • @marktimothy9607
      @marktimothy9607 Před 2 lety

      Like you said, those are the only two I see holding at this time.

    • @producermichael3480
      @producermichael3480 Před 2 lety

      If bitcoin miners are going to relocate from China to Texas, what happens when a mining farm suffers a power failure, how do the machines react, do they just restart or a loss.

    • @davidsamuel7425
      @davidsamuel7425 Před 2 lety

      @@producermichael3480 great question diatom, I think when the new location is active, they ping the rigs to the old location and transfer the logs and data

    • @harrisonallen2435
      @harrisonallen2435 Před 2 lety

      I love your videos as they provide me daily updates!!!,
      thank you so much

    • @miaaria6778
      @miaaria6778 Před 2 lety

      @Jonathan Eric As a beginner investing started trading with Cynthia donald with just about a thousand bucks. my portfolio is worth much more than now within just weeks of trading with her

  • @gardawg
    @gardawg Před 2 lety +6

    Gov: Digitize it's own currency
    Hackers: *Sinister smile*hehehe boi...
    🤪

  • @9385dee7
    @9385dee7 Před 2 lety +64

    So this is why they've banned crypo mining?

    • @TheM0joDoj0
      @TheM0joDoj0 Před 2 lety +26

      Yes. This is a big reason. But also the mining in inner Mongolia was literally causing power outages in Beijing and they've been powering off crypto mining during the coldest winter months for years to reduce power grid load. It was inevitable China was going to shut off mining for good. If America reported the reality of China instead of propaganda, the mining ban wouldn't have been a surprise. The fact that China let mining continue past 2017 would've been more shocking.

    • @ttmn-vt4fx
      @ttmn-vt4fx Před 2 lety +7

      Pollution is a great concern too. Crypo mining generally based on inner Mongolia and northern China (electricity is generally cheaper here) was wasting a large amount of energy and heavily polluting the environment. Besides I think the use of Bitcoin and stuff has never been legal in China (i might be wrong on this point)

    • @KASPA-KEY
      @KASPA-KEY Před 2 lety +2

      China bans most forms of freedom. The CCP banned Google. BTC actually encourages green energy production. Battery technology is not advanced enough to make business sense to store and transport energy from rural regions into the urban centers where a bulk of energy demand is at. Because BTC operations can exist anywhere in the world miners can utilize power sources that are inaccessible at odd times. Miners incentivize utility companies to expand their renewable energy capacity long before battery technology is ready to make it viable to run the world 100% on clean energy. It is estimated that 50% or more of BTC mining energy is currently green. Don't believe the media FUD.

    • @crishhari5903
      @crishhari5903 Před 2 lety +9

      @@KASPA-KEY When did google start representing freedom. Google literally steals your data and sells it to advertisers or any highest bidder.
      As for bitcoin mining, as long as the energy produced is from renewable, that is fine but guess what, majority of energy production is still done by coal around the world. A quick search at your freedom friendly google could show how polluted bitcoin really is.

    • @crishhari5903
      @crishhari5903 Před 2 lety +7

      @@KASPA-KEY Knowing some truth doesn't mean you have to hate things. Did I every say I hate google or BTC? Or did I just give you some commonly known facts. I even said BTC mining done using renewable is fine.
      Also, stop comparing socal media with freedom. That is just insulting actual freedom. When did freedom start to be controlled by some billionaires in silicon valley.
      Honestly, I don't want to be like you and over read your likes and hates but i am curious how you support BTC because it protects your identity and data at the same time support social media who steal your information and sells it.

  • @AdmiralBonetoPick
    @AdmiralBonetoPick Před 2 lety +7

    Remember, whenever a news headline is phrased as a question, the answer is always "no".

  • @dbxlbruh
    @dbxlbruh Před 2 lety +66

    Why would anyone trust mafia’s money over system’s money?

    • @donnyvu1220
      @donnyvu1220 Před 2 lety +6

      SMH. The only difference is how big their guns are.

    • @Follower_Of_Xi_Jinping_Pooh
      @Follower_Of_Xi_Jinping_Pooh Před 2 lety +4

      @@donnyvu1220 And in one click you get negative account. If see your transaction buying that winnie the pooh plushy.

    • @ricecakeboii94
      @ricecakeboii94 Před 2 lety +9

      Cause the US systems currency is just as corrupt as the Chinese Mafia’s. Just a little more under the rug & leverages being slightly greener so they can bully other poor nations.

    • @Follower_Of_Xi_Jinping_Pooh
      @Follower_Of_Xi_Jinping_Pooh Před 2 lety +1

      @@ricecakeboii94 US is corrupt sure but these guys are like 5-10 more corrupt? And these guys can't take criticisms at all.
      China: Aha! You buy winnie the pooh plushy! We nuke your house we know your gps coordinates ha!

    • @dnguyen787
      @dnguyen787 Před 2 lety

      @@ricecakeboii94 whatever, US currency is still the most popular one in the world now!

  • @ej372
    @ej372 Před 2 lety +8

    China literally kicked out the middle man to be the middleman, Anyways I came here to learn how to trade after hearing on the radio about the importance of investing and how one man gained $340,000 in just two months after investing $150,000. Somehow, this video has helped clarify some points, but I'm perplexed, I'm a novice, and I'm open to suggestions.

    • @sophiaadam9966
      @sophiaadam9966 Před 2 lety

      Now is not the time to be confused about investments, many people make so much profit from trading crypto, Nft's, stocks, and other financial markets. All you need to do is get the services of a financial advisor. Begin from there.

    • @ivanwalter596
      @ivanwalter596 Před 2 lety

      Trading on your own without prior experience can be risky; you could lose all of your money. I recommend that you seek professional assistance because you will not be afraid of losing money and will also learn more.

    • @ej372
      @ej372 Před 2 lety

      @@sophiaadam9966 I'm certain I'll require the assistance of an exp ert. Is there anyone that can give me a solid recommendation that I can lookup

    • @sophiaadam9966
      @sophiaadam9966 Před 2 lety +2

      @@ej372 George Wesley Oliver, a qualified broker, and a very reliable portfolio manager I know comes highly recommended. He has made a lot of money for me and I have successfully withdrawn money from my account, therefore he is really trustworthy and genuine.

    • @ivanwalter596
      @ivanwalter596 Před 2 lety

      @@sophiaadam9966 I know George Wesley Oliver, and he's not like other brokers who start telling you stories and making excuses for why the trade didn't go as planned after you've paid them.

  • @Tenchinu
    @Tenchinu Před 2 lety +27

    I would never trust the government over my personal and financial data!!
    Now, Apple/Amazon on the other hand...

    • @starmacias
      @starmacias Před 2 lety

      That's how I feel

    • @Humanaut.
      @Humanaut. Před 2 lety +2

      That's why there is Ethereum, polkadot & Cardano.
      We will finally, as humanity have really true money based on mathematical principles alone that can not be printed or altered by any central power. No matter their rank or name.

    • @jarjarbinks6018
      @jarjarbinks6018 Před 2 lety

      Lol at least people can choose not to use those methods

    • @vashsun4908
      @vashsun4908 Před 2 lety +2

      @@jarjarbinks6018 Can you? Tell me how you gonna avoid google?

    • @jarjarbinks6018
      @jarjarbinks6018 Před 2 lety +3

      @@vashsun4908
      >be me
      >need to buy a new vacuum
      >decides to go to local business and get vacuum immediately instead of waiting 2-5 business days for shipping
      >uses bank notes located in my wallet
      >supported my local economy by going to local business instead of giving money to the International Megamillion Mccorporation
      >life is content
      >tchau

  • @SaurabhDalvispirit
    @SaurabhDalvispirit Před 2 lety +36

    US videos feel so weird when they use black white people and not just people.😅

    • @lostinmuzak
      @lostinmuzak Před 2 lety +6

      It’s way of showing how the black and Hispanic minorities suffer inequalities in the US society. If people don’t see it, it will never be addressed.

    • @afsalakkarammal6014
      @afsalakkarammal6014 Před 2 lety

      There is nothing ashamed of 🤷🏻‍♂️

    • @michaelbishop3439
      @michaelbishop3439 Před 2 lety +1

      They are showing those disparaging statistics for a freaking legitimate reason.

    • @johntran1352
      @johntran1352 Před 2 lety +1

      @@lostinmuzak equal opportunities does not mean equal outcomes.

    • @jesuslover5968
      @jesuslover5968 Před 2 lety

      What are you talking about

  • @Singular121
    @Singular121 Před 2 lety +54

    The problem is the whole world is moving into that direction whether we like it or not.

    • @silverhawkscape2677
      @silverhawkscape2677 Před 2 lety +10

      And what's worst, that digital money isn't decentralized.
      Whoever controls it, can control your life. Can't buy and sell freely anymore.
      Worst if you are blocked access .

    • @jayyyzeee6409
      @jayyyzeee6409 Před 2 lety

      @@silverhawkscape2677 Bartering is still an option.

    • @binqian2022
      @binqian2022 Před 2 lety +3

      But US government can sanction them if they go different direction

    • @marczhu7473
      @marczhu7473 Před 2 lety

      It's like facts they don't care of your feelings. -said by someone popular in US

    • @lilgotti56
      @lilgotti56 Před 2 lety +2

      US is moving to a digital currency as well.

  • @danyestrada100
    @danyestrada100 Před 2 lety +17

    "If people really knew how money works ... There would be a revolution" -someone

  • @lainopening4958
    @lainopening4958 Před 2 lety +22

    There are many fundamental flaws with having everything digital. Things like stolen money, no digital device, will central government track all payments? Too many questions. There is a reason why so many Germans use cash as well.

    • @Aeroliten
      @Aeroliten Před 2 lety +3

      Credit cards with ties to physical money allow for that tracing for sure. Pure digital opens doors to a lot of fraud but cybersecurity is too far behind with most companies and banks for it to be remotely safe.

    • @jesuslover5968
      @jesuslover5968 Před 2 lety +2

      The US hasn’t advanced in technology because the people with power are dinosaurs still living in the 90s…they don’t want innovation they want to keep things as they are because they are complacent

    • @mytattooskins
      @mytattooskins Před rokem

      Then try that flaw to learn and upgrade the security.

  • @chz8146
    @chz8146 Před 2 lety +18

    I think China’s main focus is to avoid sanctions and US interference.
    Displacing the US dollar $ will depend on cost of transfer and trust.
    Most people will go for cheaper cost of transfer including AMERICANS.
    Trust can easily be built if Cbdc transfer is fast.
    If Digital Yuan gives fastness, trust and far cheaper transfer cost, then bye-bye US $

    • @alfredolumba7936
      @alfredolumba7936 Před 2 lety +2

      And where would such “trust” come from??? The yuan is one of the most opaque currencies in circulation. As well I think you overate adoption yes American sanctions have been abused in the last 50 years but there is hardly a country that views China as incapable of doing the same. especially given its track record of being offend over things as simple as maps and subsequently threatening to cut of its customers base or recall diplomats. This digital attemp will further cement china’s grip on China but outside of China it will fall pray to the same issues it’s paper counter part is dealing with

    • @jackzhou4813
      @jackzhou4813 Před 2 lety +3

      @@alfredolumba7936 Through trade to generate credit, China is now a major trading partner of more than 100 countries in the world.For example, your country can receive Chinese digital currency to trade with China. This will be much more convenient than using U.S. dollars to trade with China

    • @fredericoduvel3092
      @fredericoduvel3092 Před 2 lety

      @@alfredolumba7936
      China’s population is 1.4 billion, middle class becoming bigger and bigger.
      Let’s take tourism as an example, with most Chinese not used to paper money anymore, it’s likely that major tourism locations, shops etc. will allow payments in digital yuan. It’s an easy advantage over other shops that don’t offer that.
      All the tourists and business people visiting China will use it too(in the future there just won’t be an other option) and I haven’t even mentioned trade yet!
      The 1.4 billion users alone will make sure that it will become an international currency..

  • @reaperleague2227
    @reaperleague2227 Před 2 lety +10

    I'd vote against a digital dollar, knowing that governments love to keep a tab all my spending

    • @Aramsa-Khan
      @Aramsa-Khan Před 2 lety

      The govern won't tag everybody, not that they can't. They tag money launderer. That what they should.

  • @psychout3481
    @psychout3481 Před 2 lety +3

    A very intentionally outdated report to present the USD favourably. At 5:01, the reporter said that "currently" 62% of the reserves are hold in USD. False. That was in Feb 2019, more 2 years ago before the pandemic. Today the USD represents just 55% of the total reserves in 2021 Q1 and keeps decreasing in each quarter. Source: data (dot) imf (dot) org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4

  • @stupifyingstupedity2112
    @stupifyingstupedity2112 Před 2 lety +6

    Ultimately, the only question that matters is who "owns" it or who corrupts it. How does it inevitably fail, not how it is pitched to work.

    • @jesuslover5968
      @jesuslover5968 Před 2 lety +1

      They only way the us will do it if they can continue to control Americans and if they can corrupt it

  • @raunakshahi8485
    @raunakshahi8485 Před 2 lety +29

    The problem is that the US dollar became this widely used initially because of the relative stability of it in the world wars, China (removing all the safety problems that arise because of using a Chinese currency) is probably not gonna be as stable in any worldwide emergency situation and are probably gonna suffer more in any emergency because their economy is so reliant on exports and trade.

    • @jonjeskie5234
      @jonjeskie5234 Před 2 lety +5

      Plus their economy stands at the whims of a globally unpopular dictatorship

    • @ChilliRedify
      @ChilliRedify Před 2 lety

      Was thinking this

    • @naurasal9165
      @naurasal9165 Před 2 lety +7

      DIGITAL CURRENCY idea is not originated from China. It has been circulated for years in the West, but China is the first adopted it.
      Now, EU also will release Digital Euro. And so do some other countries will release their digital currency soon.
      It is not about Yuan VS Dollar, but about the trend. In a few years ahead, there will be another digital money beside Digital Yuan

    • @WANDERER0070
      @WANDERER0070 Před 2 lety +3

      @@jonjeskie5234 western fake news don matter to China economy bro,and China has 150 friendly countries to trade with..go ahead and decouple LLL

    • @jonjeskie5234
      @jonjeskie5234 Před 2 lety +1

      @@WANDERER0070 so Western free media is biased? But state-run media channels are not?? 🤣👍
      Look majority of the most powerful countries (G7+) in the world do not like China. China's success was not made by trading with small economies like NK. Chinas success was made by the West. Check the history.

  • @FinancialShinanigan
    @FinancialShinanigan Před 2 lety +19

    Soon only hipsters and rappers will be hording stacks of cash.

  • @josamontiel408
    @josamontiel408 Před 2 lety

    2:14 "wtih" it just stood out straight away lol

  • @beppeadr
    @beppeadr Před 2 lety +11

    Sorry, China is already complete digital. Very very few cases require cash payment, we are talking less than 0,1% of the total transactions. I personally didn't have or use any cash for the last 3 years.

    • @jasonleetaiwan
      @jasonleetaiwan Před rokem

      I get yelled at whenever I try to use RMB cash. I have no choice because I can’t use WeChat pay very easily. They have restrictions on it if you aren’t one of their citizens. It doesn’t always work for me. I have to keep trying and trying to transfer a few hundred RMB.

    • @beppeadr
      @beppeadr Před rokem

      @@jasonleetaiwan I am a foreigner too and never meet any kind of restrition or problem since China start use wechat pay and Alypay. It might be you do something wrong or some other issue maybe.

    • @jasonleetaiwan
      @jasonleetaiwan Před rokem

      @@beppeadr It may have been because my account was new so they wanted to make sure I wasn't doing something wrong with it. I left Shanghai shortly after that and haven't been back due to Covid.

    • @beppeadr
      @beppeadr Před rokem

      @@jasonleetaiwan That can be easly the reason.

  • @timkahn2813
    @timkahn2813 Před 2 lety +45

    whats funny is the guy saying money is becoming unpopular . THATS FUNNY !

    • @Beetwate305
      @Beetwate305 Před 2 lety

      It’s true ! PHysical moNey is becoming unpopular, dirty, nasty paper

  • @jaredspencer3304
    @jaredspencer3304 Před 2 lety +30

    0:56 That's not that case at all. Cryptocurrencies use *cryptography* to securely *decentralize* transactions. CBDC's are just digital money controlled by *central* banks. That's literally the opposite of cryptocurrency. *Decentralization via cryptography* is the entire point of cryptocurrency.

    • @waywardgeologist2520
      @waywardgeologist2520 Před 2 lety +4

      And being centrally controlled means they can shut off an account at any time. CBDC are an ultimate tool for complete control.

    • @jaredspencer3304
      @jaredspencer3304 Před 2 lety +4

      @@waywardgeologist2520 Exactly. Crypto and CBDC are different in almost every technical and philosophical way. CBDC seems like a dream for government and regulators.

    • @fredericoduvel3092
      @fredericoduvel3092 Před 2 lety +3

      You can control crypto as well.
      You have to pay taxes for it and every transaction has to be reported to the IRS now. So either way they know what you are buying and the FBI is only getting better at confiscating your crypto…

    • @shannonblack1394
      @shannonblack1394 Před 2 lety +2

      Not exactly. Blockchains enable decentralization, it doesn't enforce it. There are plenty companies that use centralized blockchains. Based on that you can implement a CBDC as a cryptocurrency. That being said, all traded cryptocurrencies to date are exactly by definition what you are describing. But the idea of a cryptographically stored and validated ledger that facilitates the value of a single currency cannot be centralized is not true. The only difference between centralization and decentralization, is that a decentralized cryptocurrency uses the public network to validate transactions requiring complete transparency of the blockchains to the public domain, the centralized version is that only the private network does and because the validation is done in the private network, the public domain only requires a subset of the ledger.

  • @akltom
    @akltom Před 2 lety +5

    china is doing it, others are still trying to figure out how it works. 😂

  • @Saffy1
    @Saffy1 Před 2 lety

    2:20 Can anybody explain to me why are people using apps to transfer money ? I mean you can do it directly from your bank app or website

  • @robinfaigmane10
    @robinfaigmane10 Před 2 lety +3

    They really made their research! PH's GDP is very reliant in remittances and making it an example for remittances is very spot on

  • @tonybernoulli7859
    @tonybernoulli7859 Před 2 lety +34

    Given the speed of how US print usd, hell yes! More and more countries will dumb usd

    • @gkheng
      @gkheng Před 2 lety +2

      dumb ? dump? haha

    • @Commievn
      @Commievn Před 2 lety +10

      @@gkheng dump* yes.
      But he is not wrong, if more and more country dump the U.S dollars, it will cause hyperinflation and the effect will be detrimental.
      Of course it won't be as worst as Venezuela or Zimbabwe. But most U.S citizen, especially the middle-class, will see their quality of life drop extremely fast.

    • @bronzedisease
      @bronzedisease Před 2 lety

      But but the us has mostly itself to blame. It's way too reckless in QE

    • @simony276
      @simony276 Před 2 lety +4

      That is the reality. USD is becoming trash.

    • @view1st
      @view1st Před 2 lety +1

      @@Commievn
      Could the United States rescue itself by using the the Special Drawing Rights of the International Monetary Fund as a back up currency if it got the European Union and others to agree? Similar to getting Saudi Arabia to agree to only trade oil and gas in US dollars, or western Europe to accept the US dollar as the sole international reserve currency for international trade over the hypothetical international currency the Bancor proposed my John Maynard Keynes? In other words, could the USA postpone or avoid bankruptcy and the collapse of the dollar by going over to a global currency?

  • @alsnow3582
    @alsnow3582 Před 2 lety +4

    We live in a country where it is believed that asking citizens to show an ID to vote is disenfranchising those that don't have the means to get an ID. What will those disenfranchised do if they need a cell phone to buy basic goods?

  • @afsalakkarammal6014
    @afsalakkarammal6014 Před 2 lety

    How is this different than payment apps (upi- Unified Payments Interface )linked with bank account? Like gpay or phone pay in india

    • @dondp7500
      @dondp7500 Před 2 lety

      With this... Government can easily track you.
      You know for your "safety and security"

  • @lingeshhazare8216
    @lingeshhazare8216 Před 2 lety +15

    Cryptos are future because of all the manipulation by federal banks everywhere in the world 😂

    • @bobspizza7444
      @bobspizza7444 Před 2 lety +2

      Yep no manipulation in crypto hahahahahahahahhahahahahhahaha

    • @danielparson4574
      @danielparson4574 Před 2 lety

      @@bobspizza7444 Yeah when just one person own several % of bitcoin, but to say there is no manipulation shows complete ignorance Satoshi, who if he is dead he heirs could crash the market buy selling there stash,

    • @paulw4487
      @paulw4487 Před 2 lety

      As opposed to being manipulated by a new grad in their cushy new wall street gig

    • @razorblade7408
      @razorblade7408 Před 2 lety

      @@danielparson4574 what happens if most Bitcoin is acquired and then Satoshi sells. Yes I'm sure there would be a dip or huge correction.
      Read the genius block insight of his/her/them thinking
      It's quite fascinating

    • @wg4154
      @wg4154 Před 2 lety

      You have to two choices:
      Manipulation
      Regulation

  • @Viviko
    @Viviko Před 2 lety +4

    They won’t. For other countries to accept the Yuan as a reserve currency, China would have to be more transparent about it… Last I checked, China did no such thing as transparency.

    • @WANDERER0070
      @WANDERER0070 Před 2 lety +1

      If you want to trade w China youll have to accept it,,simple..

    • @Viviko
      @Viviko Před 2 lety +1

      @@WANDERER0070 Do you think that after the pandemic companies will still rely primarily with China? They are slready starting to diversify to countries like Vietnam and India. So, it’ll be harder for China to leverage that in the future.

  • @u2529
    @u2529 Před 2 lety +1

    2:11 great editing guys!! (wtih) lol

  • @aminesaib
    @aminesaib Před 2 lety

    Where can I buy Digital Yuan ? what platform?

    • @cnbc-youtube7074
      @cnbc-youtube7074 Před 2 lety

      *Thanks for the comment don't forget to push the subscribe button*
      For more offers communicate with us*
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  • @pascalpoussin1209
    @pascalpoussin1209 Před 2 lety +16

    At 2:05 Kyle Bass talks about the USA having allies, is it so? And at 4:54 he says that the digital yuan is the largest treat to the west... Many think it's the USA.

    • @a11u45
      @a11u45 Před 2 lety

      The US is the greatest threst to the west? Is that what you're trying to say many think.
      Because if you are saying the US is the greatest threat to the west, you could not be more mistaken

    • @OKEN1117
      @OKEN1117 Před 2 lety +3

      Kyle Bass is he the guy who burnt his ass shorting renmenbi

  • @fixieroy
    @fixieroy Před 2 lety +5

    I dont understand the concern of the government having a record of transactions when banks already do this…

    • @King_of_Africa
      @King_of_Africa Před 2 lety +1

      What if that Government is a corrupt communists controlling entity?

    • @waywardgeologist2520
      @waywardgeologist2520 Před 2 lety +2

      What you do with your money should be no one else's business!

    • @thanhvinhnguyento7069
      @thanhvinhnguyento7069 Před 2 lety +2

      Physical money has this amazing property of not being trackable unless you're at the right time and place of the transaction. It's a basis for privacy and other rights

  • @paisto
    @paisto Před 2 lety +2

    4:00 That map of the eurozone is a bit odd. France is different from the other countries?
    5:00 According to IMF data, in the first quarter of 2021, 59,54% of world currency reserves were in dollars, not 62%.
    6:35 The European Central Bank has launched instant payments in November 2018 without a CBDC, allowing instant payments between any bank in the eurozone, showing there is no need for a CBDC for this purpose. Several european fintechs offer bank accounts in several currencies allowing fast and cheaper transfers between countries.

  • @SoundsOfTheWild3
    @SoundsOfTheWild3 Před 2 lety +2

    I don't think it would be easily adopted internationally, plus China has a lot of capitol controls that I think work against it if it wants to displace the dollar as the world reserve currency.

  • @vineetpanwar3687
    @vineetpanwar3687 Před 2 lety +7

    as long as there is petrodollar, non of this will work as prompted by experts in this video.

    • @binqian2022
      @binqian2022 Před 2 lety

      US now is crude oil exporter, fyi

    • @John_Doe448
      @John_Doe448 Před 2 lety

      @@binqian2022 Still imports most of its oil from SA and Russia tho

    • @hj-bf1os
      @hj-bf1os Před 2 lety +2

      @@binqian2022 doesn't matter, dollar is stable and transparent. And also usa has largest economy and helps other countries if they use dollars to export.

    • @binqian2022
      @binqian2022 Před 2 lety +3

      @@hj-bf1os Largest economy bubble for sure

    • @hj-bf1os
      @hj-bf1os Před 2 lety

      @@binqian2022 bubble or not for now they are no 1. And imports a lot, more than china.

  • @jpbrown7668
    @jpbrown7668 Před 2 lety +13

    lol, China's been mostly digitized for the last 5 years. so being fully digitized in another 5 is not really that fast. I haven't used physical cash in years!

    • @monkfishkilla
      @monkfishkilla Před 2 lety

      Well that's a great story. You have every single move monitored: what you buy, where you go, with whom. Social credit rating, nice. Enjoy 1984. Maybe you will understand why the rest of the world isn't so hot on uncle Mao's ideology. We've had Hitler in Europe, we don't need another one

    • @shawnv123
      @shawnv123 Před 2 lety +2

      @@monkfishkilla calm down douglas

    • @jpbrown7668
      @jpbrown7668 Před 2 lety +2

      @@monkfishkilla It's adorable that you think you're not being as monitored over there. do you carry a cellphone with you? credit card? debit card of any kind? heck you're commenting on this platform, which you had to log into to do so... but I'm sure they're just gonna be nice and not track every single thing you do simply because you live in Europe

    • @psychout3481
      @psychout3481 Před 2 lety

      ​@@jpbrown7668 Sssh. Don't pop his "free mind" bubble.

    • @monkfishkilla
      @monkfishkilla Před 2 lety

      @@jpbrown7668 how long did you live in China? I lived there for 8 years. There is no comparison.

  • @buildbackbetter6875
    @buildbackbetter6875 Před 2 lety

    The best way is providing fin tech solutions and maintaining the coexistence of the traditional currency like cash etc.

  • @alanyeap8078
    @alanyeap8078 Před 2 lety +1

    Usa now only consist of 25% of China export. 75% of export goes to over 140 countries. By doing settlement with yuan, the traders save lots of fees cos no longer need to convert to usd and then convert from usd to yuan. Each transaction is in millions and the traders can safe tens of thousands to hundreds of thousands by bypassing swift usd.
    The yuan circulation will goes wider as many countries now can choose yuan for transaction between countries as they need the yuan to order more products directly from China. Usd will suffer heavy blow. Cuba, north Korea, Iran can then choose to trade using yuan. 140 countries that do not depend on usa import export, will change to Yuen to start trading with Iran, Cuba,n. Korea.

  • @monkingflame9493
    @monkingflame9493 Před 2 lety +26

    "The digital Yuan could have 1 billion users within the next 10 years" That isn't even the entire population of china. China has a population of 1.4 billion people so we are talking about a bit more than a third of all chineses using the digital yuan. by that standard the yuan would already be so powerful given that it is used by almost the entire population of china.

    • @henryeghaghara9385
      @henryeghaghara9385 Před 2 lety +3

      this comment is seriously dumb, I couldn't laugh enough

    • @hj-bf1os
      @hj-bf1os Před 2 lety +6

      Lol yaun is already used by 1.4 billion Chinese. Digitising it won't change anything.

    • @fregmnt
      @fregmnt Před 2 lety

      I think he mean it would be easier to get Yuan

    • @oceanwave4502
      @oceanwave4502 Před 2 lety +1

      Don't forget: oversea Chinese as well as Chinese tourists. In addition, countries within BRI. They all have incentives to use Yuan. And digital Yuan is simply too convenient.

    • @naurasal9165
      @naurasal9165 Před 2 lety

      DIGITAL CURRENCY idea is not originated from China. It has been circulated for years in the West, but China is the first adopted it.
      Now, EU also will release Digital Euro. And so do some other countries will release their digital currency soon.
      It is not about Yuan VS Dollar, but about the trend. In a few years ahead, there will be another digital money beside Digital Yuan

  • @Fire-ci4se
    @Fire-ci4se Před 2 lety +10

    You brought Kyle Bass who has been losing money betting against China for the past decade?

    • @bronzedisease
      @bronzedisease Před 2 lety

      I really really want to know how has he done

    • @Fire-ci4se
      @Fire-ci4se Před 2 lety

      @@bronzedisease He bet against the Hong Kong currency peg to the USD, and has been losing money for a decade on that trade

    • @bronzedisease
      @bronzedisease Před 2 lety

      @@Fire-ci4se It must be a rather miniscule position otherwise how the hell does he keep his job

    • @Fire-ci4se
      @Fire-ci4se Před 2 lety

      @@bronzedisease He made a ton of money predicting the 2008 crash , so he has cash to burn probably

  • @IReapZz95
    @IReapZz95 Před 2 lety +1

    Wise transfer works great for transfers using different currencies

  • @christopherbrain4472
    @christopherbrain4472 Před 2 lety +5

    Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.

    • @mohammaduhera2961
      @mohammaduhera2961 Před 2 lety

      Hello! I will love to be your friend dear, as well get some lessons and ideas about your earning.

    • @christopherbrain4472
      @christopherbrain4472 Před 2 lety

      @@mohammaduhera2961 I can share some ideas like
      1.Crypto
      2. Stocks
      3. Forex trading
      All of these has proven to be a reliable source of income.

    • @emmascott3647
      @emmascott3647 Před 2 lety

      @@christopherbrain4472 you're right.

    • @emmascott3647
      @emmascott3647 Před 2 lety

      Investing in cryptocurrency now will be the best thing to do especially with the current dip in the market....

    • @ryanjames8356
      @ryanjames8356 Před 2 lety

      I'm new to cryptocurrency trading and I've been making huge losses but recently i see a lot of people earning from it. Please can someone tell me what to do?

  • @robb1324
    @robb1324 Před 2 lety +4

    ... Except that the Fed isn't made up of elected officials. So really you as an everyday citizen have absolutely no say in monetary policy. At least with most major cryptocurrencies, users get to vote on monetary policy.

  • @assai74
    @assai74 Před 2 lety +21

    Underlying message: trust the federal reserve bank, trust digital, defend america against china

    • @MrJakeFan
      @MrJakeFan Před 2 lety

    • @hwong1776
      @hwong1776 Před 2 lety +3

      He is summarizing the video

    • @assai74
      @assai74 Před 2 lety

      I guess

    • @assai74
      @assai74 Před 2 lety +1

      Lets do this!

    • @chunkailau2448
      @chunkailau2448 Před 2 lety

      @Simon Whittaker it’s like Zhina is threatening the very foundation of the civilised world rather.

  • @mamadoubarry3743
    @mamadoubarry3743 Před 2 lety

    It seems as if banks won’t really be affected by the implementation of a digital currency being that it mentions in the video it mentions that in order to access the digital yuan you have to sign up with your bank

  • @NickoSwimmer
    @NickoSwimmer Před 2 lety

    At 2:14 in video, there is a typo "wtih"

  • @DurgaswaroopPerla
    @DurgaswaroopPerla Před 2 lety +8

    Anything anyone makes becomes a threat to the US. US economy seems so fragile!

  • @hakuhosho9802
    @hakuhosho9802 Před 2 lety +6

    Do we need physical money? Asking those people in flooding areas of German.

    • @cabellones
      @cabellones Před 2 lety

      to be fair...
      I suffer a catastrophe of that type 10 years ago (January 2011 Rio de Janeiro floods and mudslides)...
      Believe me... money was the least of our problems...
      it took 2 days to clear road to help can come to my city...
      5 to light return...
      about 10 days after... things were pretty normal....
      food and water were being distributed and the biggest crisis I see was smokers withdraw... as was a non essential and a lt of places that may have were flooded or simply vanished in the mudslides.. add the stress and chaos of the situation and people got desperate for tobacco....

    • @fixieroy
      @fixieroy Před 2 lety +2

      Considering your plastic debit card has more odd of lasting against a flood than your paper dollars… / and if your house is flooded to the rooftop i dont think paying cash is your greatest worry.

  • @tensii0219
    @tensii0219 Před 2 lety

    Highlighting on the hard copy looks fresh

  • @thomaskim5394
    @thomaskim5394 Před 2 lety +9

    If we lose the dollar supremacy, the federal debt will be a big problem as we cannot keep printing dollars without the inflation.

    • @MubashirullahD
      @MubashirullahD Před 2 lety +2

      You get inflation both ways

    • @thomaskim5394
      @thomaskim5394 Před 2 lety +1

      @@MubashirullahD The effect of inflation will be higher if we lose the dollar supremacy.

    • @linusmlgtips2123
      @linusmlgtips2123 Před 2 lety

      @@thomaskim5394 We barely print anything to begin with. That's not how we control inflation.

    • @thomaskim5394
      @thomaskim5394 Před 2 lety

      @@linusmlgtips2123 How do you the UD government is able to spend dollars they do not have?

  • @tnt4457
    @tnt4457 Před 2 lety +6

    While it's not perfect, CASH will always be KING!

    • @Wongseifu548
      @Wongseifu548 Před 2 lety +1

      exactly that why it will never go away too flexible and people know it

    • @Mrgreen2558
      @Mrgreen2558 Před 2 lety +1

      No you forget that Gold and silver is always king not the fake cash print money

    • @alexv1190
      @alexv1190 Před rokem

      @@Mrgreen2558 you can't carry that around

  • @kylewollman2239
    @kylewollman2239 Před 2 lety +16

    I agree with the downsides mentioned of getting rid of paper money, but I don't agree that if things are going digital that we should just leave it up to big tech firms like Apple so that they can have room to innovate. If privacy is your concern with digital currency then your concern about privacy should increase 10x when big tech firms are the ones leading the way.

    • @cccb2878
      @cccb2878 Před 2 lety +1

      Thats why u need state-run companies

    • @victorcastaneda4308
      @victorcastaneda4308 Před 2 lety

      Everything,I go to pay for something already been in line for say q0 minutes and then there is people r just gonna pull out their credit card ,they can't find it.This is going to be the same BS
      MONEY WILL ALWAYS BE KING

  • @ramvalia
    @ramvalia Před 2 lety

    Amazing pictorial depiction.

  • @johnlemma401
    @johnlemma401 Před 2 lety +1

    Wow Rest in peace US currency.

  • @blainegabbertgabonemhofgoa6602

    Short answer: No

  • @hiddenlan9213
    @hiddenlan9213 Před 2 lety +14

    America is a master of exporting our inflation. The US dollar will stay forever relevant, at least for a long, long time.

    • @afzal363
      @afzal363 Před 2 lety +1

      😂😂 American Dream

  • @davindersinghpurva856
    @davindersinghpurva856 Před 2 lety +1

    Very good work...but India we are using a mode of payment known as UPI which let us do real time money movement nationally and it doesn't even need digital currency.

  • @manicmandownup
    @manicmandownup Před 2 lety +1

    This dude must’ve loved giving presentations in grade school.

  • @watchman835
    @watchman835 Před 2 lety +3

    It is not capitalism vs communism. But dollar vs yuan which is at the core of US Chinese conflict of interest.
    No state would like to lose the power of issuing free money to the world.

    • @aitorbleda8267
      @aitorbleda8267 Před 2 lety

      Well, the US has gone to war several times over defending the US dollar, and it makes sense to do so.

    • @hj-bf1os
      @hj-bf1os Před 2 lety

      @@aitorbleda8267 yeah true. If usa lost dollar war then their debt will be much bigger problem than today.

  • @sunilsingh7881
    @sunilsingh7881 Před 2 lety +4

    Just imagine government have control of your money , i like my Hard work money 💰 in my hand👍🏼

  • @rldays9179
    @rldays9179 Před 2 lety +1

    The biggest problem I can see is that most countries who aren't keen to accept each other's currency, assuming that happens, are willing to accept USD. For instance, if I went on holiday in Bali and then flew over to Thailand, I could not go to the markets with the Rupia and try and buy something at Baht prices. But I could take USD and bargain with it. Basic but that's basically how it works as far as I can tell.
    Criminals will take USD over anything else. Even Bitcoin.
    This is the same issue with XRP until all countries use the ODL from the XRP ledger. Until then USD is keen and it will take a long time to get all countries to change that. That doesn't mean it won't happen but it won't happen overnight.

  • @RavingFan
    @RavingFan Před 2 lety

    simple question - no 1 outside prc accept paper rmb as payment, why would they accept digital rmb?

  • @Metacognition88
    @Metacognition88 Před 2 lety +4

    Bitcoin sounds like a bunch of shenanigans and tomfoolery if ya ask me. I miss the days when we used to play jacks and checkers.

    • @NonchalantSquid
      @NonchalantSquid Před 2 lety +1

      that’s what happens when you get old and have no neuroplasticity and/or will to learn anymore.. quite sad really. if you were still able to use your brain you might appreciate world changing innovation a bit more

    • @senseimenharachantv1130
      @senseimenharachantv1130 Před 2 lety

      Lol not just bitcoin there are more crypto/ digital assets are more far superior than bitcoin and it will help the world economy into a better place especially to our climate. BLOCKCHAIN is the INTERNET 2.0 in 1990’s.

  • @alantran1914
    @alantran1914 Před 2 lety +4

    Cool! I will try it out when I am China for the winter Olympics!

  • @jal8298
    @jal8298 Před 2 lety

    1:11 That lady being interviewed: I don't know. I don't know. I know nothing about digital currency...

  • @dracovenit9549
    @dracovenit9549 Před 2 lety +2

    Blockchain based currencies are not currencies, they are risky investments. Secondly they are another threat to the environment. Great job!

  • @amjr6577
    @amjr6577 Před 2 lety +8

    Soon you wont be able to NOT NEED A BANK tp have money....the banks are trying to own every cent u have

    • @LinkCDM
      @LinkCDM Před 2 lety

      Fr thats the way I see it

  • @Nolaready
    @Nolaready Před 2 lety +7

    China doesn’t play chess, they play GO! And if you look at how they positioned themselves globally, they are clearly winning.

    • @Tounguepunchfartbox
      @Tounguepunchfartbox Před 2 lety +1

      I don’t know. 4 years of Donald trump and they couldn’t even pull 1 US ally into their orbit. They’re failing.

  • @rickyliow
    @rickyliow Před 2 lety +1

    The public will still need to do their banking in the future.
    It's just that they don't need the banks anymore

  • @mdborhan1766
    @mdborhan1766 Před 2 lety

    It’s very helpful video

  • @greenjoygardens
    @greenjoygardens Před 2 lety +14

    "It might not be necessary anymore with CBDC" AHAHAHAHAHAHA

  • @ronniebouchar9484
    @ronniebouchar9484 Před 2 lety +4

    digital yuan bypasses SWIFT.

  • @adamibrahim8263
    @adamibrahim8263 Před 2 lety +1

    Somalia is already using it. Over there they call it EVC Plus. You don't need cash to pay for the goods and services needed

  • @alexismiller288
    @alexismiller288 Před 2 lety +1

    It needs to be integrated into Google Pay and Apple Pay. If it's a separate app it will not succeed.

  • @pilotsab3587
    @pilotsab3587 Před 2 lety +4

    XRP

  • @lancequek5203
    @lancequek5203 Před 2 lety +7

    The problem with most Stablecoins is that they can't survive a bank run

  • @joshuakim2341
    @joshuakim2341 Před 2 lety

    I don't know if this matters, but there is a typo in the video.

  • @jlin7724
    @jlin7724 Před 2 lety

    The thing is, as for electronic payments in China now, the government requires all national to be “registered” in order to use it. You can make transactions domestic and abroad. However, if you are foreign or not registered no way using it outside of China. So how’s it gonna work worldwide? The regulations.