đ Buy Richard's Turrin's Book "Cashless" Here: amzn.to/2RS0jl4 â Watch My Interview with Richard Turrin on China's Digital Currency: czcams.com/video/cHQFCCkR2bg/video.html đ Interested in Supporting the Channel? www.patreon.com/cyrusjanssen
Ancient China invented _paper currency,_ and gradually the rest of the world followed suit. Now China has launched _digital currency,_ it's only a matter of time for the rest of the world to follow.
USA is only interested in creating wealth for the elite Americans. USA is doing whatever they can to amass resources from others, including slavery, political manipulation, military forces and anyways that they think possible. They never think of helping anyone, especially their immediate neighbors. Now the rich America is haunted by its poor neighbors in every means. So these neighbors will take the first available boats.
Why should the caribean and South America keep supporting the American lifestyle ?? American companies hardly has any major investments in the Caribbean for good reason. Most of the caribean and South America are black and brown people. Be honest bro!
As a chinese descendant of small factory owner (my dad đ )...he always say never underestimate your customer...no matter how "insignificant" their business to you. They are still your customer...that "little" money is still money...
Doesnt sound good. Watch out for chinas end-game. Danger for Africa. Do Africans want an undemocratic Africa in a world ruled by the chinese communist party. The most important thing is that in a democracy one can always vote a corrupted gov. out of power. This cannot be done in china.
@@andrewlambert7246 âIn a democracy, one can always vote a corrupt government out of power.â Seriously, this is 2022 already. You are a rapidly shrinking proportion of citizens of the world who havenât yet got tired of hearing that broken record. The Dems and the Republicans have been taking turns in Washington being âvoted in/outâ to empty out middle America. Until we see that democracy you talk about go through a revolution, your statement is just becoming a parody.
it's more to do with how the US uses the dollar as a weapon of hegemony. than not enough banks there. Many developing countries are tired of US using the dollar to dictate others on what to do.
All American banks have bad money. Also same goes for Europe to. Money from Slavery, and drug Money. You don't believe me take a dope dog in any Bank and you will get a barking dog.
China has successfully used the Yuan as a weapon against its Citizens. So now , it is time to use it Worldwide đ Many Chinese doing business abroad who have been forced to go back to China were threatened by telling them that their bank accounts will be seized and their Hukou terminated (residence card)
China should help other countries expedite their own digital currencies so that any country can trade with any country without being at the mercy of a financial hegemon. This will increase trust in the Chinese digital RMB and also promote trade and stability between individual nations. The last thing we want is for countries to escape a financial hegemon only to fall into the arms of another.
Countries should also not presume that just because the current superpower abuses it's power, that an upcoming superpower will somehow also do the same as it's predecessor. It's just projection of the current superpower's crimes onto another that isn't even in power yet.
@@Shenzhou. I'm sure China has no intention of doing so, at least not the current leadership. But things can and will change over generations. That's why relationships have to be built upon exchange and reciprocity as much as possible, and not charity or goodwill. If all levers are held by one party (as what we're seeing with the US), it would inevitably lead to disgruntlement, maybe not in the short term, but definitely in the long term. Things will be more stable when all parties have something to lose in a relationship. From the perspective of China, it would also keep them on their toes in maintaining cordial relationships. Otherwise, they would succumb to complacency as have happened many times to great powers in the past. I think the current leadership have done commendably in this aspect so far and I hope they keep this up and resist the urge to over leverage on their influence.
That pretty much requires ground up education and at least a generation of understanding and implementation. And that's assuming the US isn't creating subterfuge to install puppet dictators to rip out the wires like they've been ripping out banking regulations set up by the FDR administration.
China cannot put pressure on countries or force them to choose. These countries have to decide themselves and there are still a lot trust to be build and it take time.
if you take a look at China's neighbouring countries and compare their economic development to those of the Caribbean countries, which are the neighbouring countries of the US, you may realize that China is making its neighbours richer and richer while the US doesn't really care about Central America countries. I think it is an obvious choice for those countries when comes to picking up a side.
Not by a long shot,RCEP just started. Lets hope it's stable around 5 to 7 % economic growth (not yet surpass Japan economic growth in its golden age). Africa economic growth will have higher growth in coming future.
@@lefttomboy3068 But Japanese golden age was very short. US clamped down hard on Japan and it never recovered. And Japan is the most reliable ally in Europe. LOL
But China makes neighbouring countries poorer and poorer. China gives them *TOFU DREG PROJECTS,* sells them fake foods like plastic rice, sewer oil for cooking, toxic baby foods, etc. Also, China sells you bad steel like bendable, breakable rebars, crumbling concrete bricks, etc. No thank you, China. We don't want your shitty goods.
Since most of the third world countries are sanctioned by Merica, or, they are third world countries because of Merica's sanctions, USD is not available to them. Digital Yuen is the perfect solution for these countries.
@@pardeeptandon crypto currency will be crushed in America. It's already being crushed and stamped out in China the past several months. Besides electricity is needed to produce of digital coins connected to the internet. Who controls the internet again? I already see where this is going. Pay close attention the next 2 or 3 years.
Ancient China invented _Paper Currency,_ and gradually the rest of the world followed suit and adopted paper currency. Now China has launched _Digital Currency,_ and it's only a matter of time until the rest of the world follows.
@@dongshengdi773 Actually true. Pasta was copied the result of the Chinese noodles that Marco Polo brought back with him when he returned to Venice, Italy. Your fact-check history is impeccable.
Caribbean countries have had enough of US untrustiness. Singapore has always been working closely with China and there is no issues, no fuss. Surely Singapore isn't so mindless or senseless to listen and obey US blindly.
I've always love LKY. Back in the 60's interview you can see the western interviewers attempts to try and dominate LKY but never once did he bow down to them.
Why wouldn't they? The Chinese offer much better deals than the IMF does in terms of loans. And the Chinese have already delivered a Metro in Hanoi and a national railroad in Laos.
georgekostaras do read about pakistan sri lanka etc where china build infrastructure . if you wont be able to pay them the loan what the use when you just changeing your one master to another . china is not doing charity at end this small countries will end up with loans of china becomeing its coloney .
@@siddharthkalantri5076 I have read about it. The Chinese charge a four percent interest rate, which is more than the IMF but is on parity for most commercial loans. With regards to the port in Sri Lanka, they now own 70 percent of the port after the government of Sri Lanka defaulted. Compare that to the IMF which demands that countries privatize their water supplies, sell off national assets and deregulate markets to the benefit of the USA. So far, the Chinese own a Sri Lankan port. Unlike the USA they haven't deposed the country's leadership, rigged elections or invaded. The Chinese are probably going to take that port and use it to print money. Altruism is not their goal. that said, what the IMF does, and what the West has traditionally done in these places is much, much worse.
@@georgekostaras Sri Lankan bank pays USD 6.9 mn to Chinese company amid fertiliser row read about sri lanka and china problem . srilanka had to pay the prise knowing its a faulty fertiliser and india had to help them in middle of season .
@@georgekostaras i mean buyers have no say in what they buy . ever thought european will allow any shady product to sell in there market . that is reason i said never burn the briges . after china conner your market will make rules for you also . you wont be haveing any say or stake in your own countery
@@jiaxunchat I doubt anything will come out of China's digital Yuan. China doesn't have the rule of law. In order to be a reserve currency you need to have a legal system that the world can trust. You see people need to know that their money is safe and that contracts will be honored. Another big thing is China is constantly manipulating the value of it's currency up and down to maximize economic growth. That's good for GDP but not for a potential reserve currency.
If you WANT everybody to know how much you have and a small keystroke command to be able to take it all away. You are crazy. I LIKE real, physical currency too. Once you get it legally, it's YOURS. If somebody wants to take it, they need to grasp it out of your hands. Not behind your back by hacking a computer. It's FINE for transactions and day-to-day bill payments, BUT, real money is ALWAYS more "moneyable". I like a mix. Not just ONE extreme over the other.
Great video Cyrus! Richard Turrin is such a knowledgeable guy in the digital arena and with regards to digital currency. He's also very frank and tells it like it is. Really learn a lot from him.
except he didn't tell you that they make digital funds run out if you don't use them within a month so you will always be poor an a bitch to the government
Not many people in Singapore, including kids, are unbanked. Still, CBDC will be useful in ForEx cost reduction for any country, as the current conversion between two non-USD currencies still goes through USD as the middleman currency, and banks make money twice in every transaction.
That is exactly how the US skimmed off the wealth of all countries, not unlike a parasite, that are basically forced to use the USD. The sooner every country move away from using the USD for any transaction, the more they save on their national wealth.
@@marlotree6909 Yeah, when the inventor became a multi-billionaire. Who know how many backdoors he created for himself. It is not backed by anything, so good luck owning it.
The West is talking up the threat of China, especially in Asia specifically Hong Kong (which is within China) and Taiwan (which is part of China as per the One China policy) and the rest. However, national defence budgets say otherwise. The last conflict in Asia was in 1979 (China/Vietnam border war), since then Asia never been so safe and prosperous. With the implementation of RCEP as at the 1st Jan 22 that prosperity is set to increase astronomically for those 15 countries involved, ASEAN, South Korea, Japan, Australia and New Zealand. This view is also supported by the low defence budgets of countries within the region. Taiwanâs budget is at its lowest point, Japan is at 2%, hardly states under siege from China? So, wherever China goes, prosperity follows.
China is a straight up a police state, and a global bully constantly threatening war to other countries. The last thing Caribbean/jamacians would like to hear is... "I'm from the Chinese government and I'm here to help." I get it... America does close to the exact same soft power bulls*it. that's why I'm worried. I don't think china is out to kill but Please don't go thinking that china is righteous or anything. Also tell your agent not to invade Taiwan... that's not very cool.
And that war between China and Vietnam was started by Vietnam. Did you know that the Vietnam vs USA war, that lots of chinese soldiers went to help Vietnam? Meaning China helped Vietnam to win the war against the US. Why, because if the US has taken Vietnam, then the biggest thread will be directly south to China. Then those idiots in Vietnam turns around and attacks China. I thought history tells us that that war was done very quick. China destroyed Vietnam and didn't take over it country, which US would have done. China was only defending own borders and not attacking anyone. I can tell you this, China will not invade Taiwan. Those are brothers from the same mother. China wait paciently for Taiwan to want to return and join China again.
Yes, only China has the right to bully other countries . Only Thanos has the right to snap his finger and disappear half of the universe population đ
@@dongshengdi773 Everybody is thankful that China does not exercise its right. Only Amerika is arrogant enough to force everyone to submit to its demands.
Finally they will be able to have power plants, ship yards, ports, farms and car manufacturers brought by Chinese gov unlike the US that brings political instability and chaos
Wonderful talk! Somehow made me think about the history of Chinese civil war, in which the CPC defeated US backed KMT in 1949. KMT basically controlled almost all the big cities, which had most wealth. The strategy of CPC was called "Countryside surrounding the cities" or ćæć ćŽććžă Most Chinese people lived in the country side then. They were poor and undereducated, but they were not stupid. They chose the party who treated them better. Make a lot of sense, right?
Agreed. During the Chinese Civil War, the Nationalist KMT had massive wealth (they taxed peasants heavily) they had superior weapons and superior numbers over the communists. Yet despite all these advantages, the KMT still lost the mainland to a bunch of dirt-poor, ill-equipped, starving communist peasants and had to flee to Taiwan. If anything, this demonstrates KMT's gross incompetence in their right to rule the mainland, while cementing the communist's right to rule China.
@@harryviking6347 If the Nationalist KMT were the supposed "chosen ones" then why'd the _Republic of China_ đčđŒ (1912-1949) lose the mainland to the _People's Republic of China_ đšđł and had to flee to Taiwan? Back then, the KMT had everything. Money, wealth, superior weapons, U.S funding, and superior numbers over the dirt-poor, ill-equipped, outnumbered starving communists. Several times during the Chinese Civil War, the communists were on the *brink of total annihilation,* by the KMT and it was through the sheer communist will to survive and Mao's strategy like the _Long March_ that enabled the communists to survive from the brink. After the end of the Long March, communist numbers plummeted from *69,000* (October 1934) to *7,000* (October 1935) while the KMT army remained strong at over 300,000 personnel. Yet you really think the communists did not treat people good?
As most products are made in China it will be easier to source directly using digital RMB to save transaction and exchange rate cost. Besides using the USD add no value and during this pandemic countries need America to improve USD liquidity to prevent a lock down on the financial markets. Hence with digital currency all this issues will be resolved and the SWIFT system is finally history.
14:58 That "Largest Trade Partner" map really puts things into perspective. đ€ Global South (and literally southern) countries _overwhelmingly_ have China as their largest trade partner by varying margins, while the USA ended up only being the biggest trade partner for the rich ex-colonial Western European countries... and even then, that lead is being contested.
@@stephenlock7236 Yes, everybody in the World don't want to think for themselves. We want the Communist regime to think for Everything , decide for Everything. I just want to follow orders like a robot , so happy , No headaches . Just Work in the field Planting Potatoes đ
China providing solutions to financial services problem in America's backyard is a double whammy for the US because it also eliminate the middle men services and save money for the countries. I'm quite sure the US will react with sanctions and/or using other forms of coercion on those countries as is often the case.
The Bahamas = Tax Havens for American Elites ! Digital Banking have to have Good and Secure Internet Connection ! American Military Weapons Industrial Complex including NATO Hegemonic Oligarchs Elites Privatised Endless Wars Bases Around the World is Anti - Humanity đâ ïžđ
@@kbram7363 Pfft, western doing sanction the most, atleast there are contender for the current hegemony. Suck to be you westerners, now you will feel how to be colonized and drained dry!
America lost the Caribbean in particular Jamaica when the CIA meddled in the Government in late 1970s to the early 1980s. This region has been seen by America as a footstool and not respected. Aid to these nations comes with requirement to buy junk from America and so the enslavement continues by Anglo Saxons. Naturally, Jamaica and the Caribbean should be the best ally to the US, but without respect you cannot earn respect.
Agreed, this American corruption activities had been going for centuries in most part of the world especially the developing countries. All these developing countries are still servicing these debt. Its time to wise up and move away from this "Mafia US bankers".
@@ielee1765 The Caribbean makes billions of US dollars in tourism each year on top of the hundreds of millions in aid we give. Aid to foreign countries do NOT have financial obligations attached to them, but they do come with political ones. In general, the agreements are non-binding but ask for Democratic principles be used by those we give aid to. Unlike the Chinese, we lease property to build military bases in many countries that we give aid to to help protect those countries from other foreign aggressors. China comes into poor countries and builds shipping ports and airports with low interest loans promising jobs and economic advancement. When these projects go belly-up, which they almost always do, China comes in and makes a deal with that country... China will forgive the loan under one condition, they get all properties and the improvements to those properties as Chinese territory. There is only one reason China does this... future world-wide dominance. Communist China wants to rule the world. It is 'passive aggression' personified.
Is America really pulling out of the Caribbean or is the Caribbean choosing China? Why would anyone use or pay a middle man when they can go directly to the source?
Because Latin America and Caribbean are the back garden of USA. You can get surprised about how much some presidents in all this region are dogs of USA.
USA's method of "pulling out" is sanctioning. This 21st century, it's not working anymore & has the effect of pushing the sanctioned economies towards China, which is a constructive, not destructive, country to much better tie up with.
Three cheers đđđto Richard Turrin for his intensive and extensive unbiased digital knowledge on China - good that he is so willing and openly share his knowledge with the global citizens.
Who would you prefer to deal with if you are a Caribbean nations? A country that threaten, corce, interfere, exploit and invade you for over a hundred years OR a country that want to trade with you and bring development? It is logical who they choose.
Reminds me of developing countries deploying wireless mobile technology to leapfrog communications instead of building cable links. Using central bank digital currency similarly leapfrog the reach to the underbanked and unbanked population in developing countries. Good call.
InUS management style, there is the Pareto principle. We were drummed constantly by senior management that 80% of revenue came from 20% of customers. We were told to focus on the 20% and reduce costs on the 80%. In a time of tight revenue, you can guess what's going to happen. Right! Reduce cost on the 80%. No brainer.
@@eddym5532 A Government that actually cares for the people? And not Big Business, A Government that has 100% Literacy for its people? A Government that fights Poverty? A Government that has death Penalty for Drug Dealers and White Collar criminals...Oh maybe I should vote Chaotic out of control America..lol
It is lucky China is at least somewhat strong, so China will not preyed like all other countries previously don't want to trade with US dollar. Wars with freedom & human rights đ
Very impressed with your new direction of channel content towards this crucial topic. The main stream is treating the digital Yuan as merely one of the many cute technological novelties in the modernization within China. In probably much less than 2 years time when the main stream media woke up and starting to manufacture the tsunami of viral narratives on this potentially biggest yet geopolitical battle ground, you will be able to very proudly assure your audience your foresight for giving them the vaccination way ahead of that.
Ancient China invented _paper currency,_ and the rest of the world gradually followed and adopted paper currency. Now China has launched _digital currency,_ it's only a matter of time for the rest of the world to follow suit.
Digital yuan will not ever be able to surpass BTC. Why rely in a communist central system when you can have a decentralized system that supports privacy and freedom? Time will show BTC prevail.
Thank you for the support! It will be interesting to see how this pans out in the Caribbean, but agree, maybe we look back in a few years and can say we saw this coming.
Interesting topic! One of the key USPs of the Digital RMB is that countries using it will not be threatened by SWIFT as a result of US economic sanctions. Looking forward to the next videođ
If it wasn't for the USA the the rest of would be a third world crap hole China wouldn't be where they are today is because they stole everything the can't invent anything they must copie other nations invention
@@tedjones1822 And your corrupt politicians made that possible...... Don't tell me that you don't know that most of your corrupt politicians all across the board have interest in all those companies that are in China?
Did someone tell them that the biggest weapon that the Empire wields freely neely around the world is also its biggest weakness and probably the harbinger of its downfall. That petradollars ....
The Digital Currency is futuristic and helps tremendously developing countries world _wide.The 21st century is is already dominated by NEW ideas which is affordable and none threatening.We are already at the END of an age where the WHEEL has turned for a more inclusive approach so everyone can benefit and LIVE in peace.
Whatever it takes, the world needs to find an alternative to the American Dollar. The world will benefit from the digital RMB when the US financial system goes bankrupt from debt and the insane printing of dollars.
@@Jeff-ej4wp Come on now, we all know which Country had the most Covid infections and deaths. The USA is the superspreader nation that must answer to its citizens and the world how it bungled it up. We all know that the Covid virus was detected long ago in the States and Europe before China detected this threat that was imported from those areas. Let the Americans pay the reparations. Oh, I forgot, the USA is broke fighting all those wars.
US doesnt want the small countries $ crumbs. There is a Malaysian saying " sikit sikit jadi bukit" Means bit by bit we built a mountain. assalamualaikum
@@yenriver5255 I agree. The food though is really good. Malaysia has been on the edge of economic expansion for ages. It continues to be in POTENTIAL mode so long as the people in power work to sustain the status quo, sadly.
Jenny Ohara; Google something you are not educated on before making a statement. The ships were not wrecked there, the ships destination was the caribbean. More slaves were imported there than to the United States.
Thank you Cyrus & Richard, very informative & insightful! Yes, we should look back at this big idea after a couple of years. I bet it could be as fruitful as the BRI, absolutely another game changer!
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Charlotte's. I think she is the best broker I ever seen
Thanks for introducing me to Mrs Charlotte's. My first investment with Mrs Charlotte's gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
As a man from Serbia I am happy about our government turning more and more towards China since I do see China as a future BUT I am afraid that China's "soft power" and lack of interest to militarily involve themselfs means that my country will be left alone agains powerful USA and NATO who undaoutably have interest that weaken Serbia with every year and every move leading to destabilization of Balkan reagion.
Very good point. Chinaâs non interference of othersâ internal affairs will have to be changed one day. Military alliance will also be needed. China is already being called lots of bad names including âbeing aggressiveâ. Imagine if they declare that Serbia is under Chinese nuclear protection. What will Russia think about it? What will the whole western world think about it? What does China gain from providing military/nuclear protection to Serbia which so far away? For North Korea, it makes more sense. It is more natural for Serbia to seek military protection from Russia since now Russia and China are actual allies but the name. But Serbia should consider what it can offer to Russia for return, you donât think that they will protect you for free?
I would have liked to hear about the U.S. weaponizing the dollar with regard to trade with many small nations, and maybe the reasons many small nations would want an alternative currency to protect themselves from the U.S. dollar hegemony.
This vlog is awesome as it used to be! cyrus n turrin is always the golden collab who offers great content mixing up tech, financial, economy n geopolitical things. Man, Keep it up!
Now that the BBB Initiative has stalled, the USA should apply to China to join the Chinese BRI. Just a bit of swallowing pride, the US would end up with excellent first class infrastructure with no strings attached. If US doesn't, it will find in the future, 3rd world countries having magnificent and futuristic transportation and the US still stuck with their old tracks and ancient transport system. I hope the US doesn't carpet bomb them in a fit of envy and frustration ....in the name of human rights and democracy, no less.
Thank you so much for bringing this conversation with Richard Turrin. I watched the first one but unfortunately I didn't follow up then. Right now I have bought Richard's book. I am worried about Bukele in El Salvador having introduced bitcoin as legal currency. I understand that it was a bold move that makes life easier for thousands of migrants who send modest remittances back home and are heavily exploited by the likes of Western Union who charge high fees, but I don't trust cryptocurrencies at all as there is no responsible entity backing them up and they can crash at any moment. So a "real" electronic rmb currency will be much safer. I'm happy to live in exciting times!
Bukele is changing the face of El Salvador in every positive way possible.....the US government is making it impossible for Bitcoin to succeed.... blocking it and had tried to bully him not to use it ....I mean can you imagine if it works?....do you know what that would mean to the US dollar?.....there is your answer
Cyrus , I thing you are wonderful modern man of our times who may come from a country but convert himself a rational, universal identity with clear realistic logic to reach every middle class heart of the globe. All praise to you and my respect.....from India.
Richard Turrin has researched this subject in great depth and scope. Things he talked about are what reality is today and the depth of his research is simply amazing. I am reading his book now "Cashless". Thanks for bringing him on again Cyrus.
Thank you for another great video. Anything and everything to better people's lives and nothing for those who exploit the lives and toil of the innocent.
Very interesting subject - almost for all of us, western countries included, it makes sense to use the digital r m b, given that the bulk of what we buy and use is produced in China. As the saying goes, the Chinese are the only one to âbuy localâ everywhere in the world they happen to find themselves. đ
Caribbean people are lotal to china especially places like Jamaica trinidad and guyana because they also gave a sizable Chinese mix population and Chinese immigrants as well .take me am part chinese Jamaican and we love our china becauof iyt blood connection unlike chinese from taiwan and Hong Kong
Brilliant stuff, Cyrus & Rich. Saving money in the short term is short sighted by the US arrogance of domination. It nice to see a competitor which will be a game changer. Remember we are globalised with no boundaries but the US will have boundaries as being very outdated until they changed and realised that the US is not the only inhabitants in the world.
I have never seen in the whole world, there is a journalist in india who is so obsessed with one country, and always talks about it and slanders it every day. this is not a journalist but nothing more than a hater!
the chinese influence did not happen overnight. When i visited cuba in 2010. I was greeted at the airport by a luxurious chinese tour bus. if i did not see the label, i would have thought was made in germany. when i arrived at the hotel, i found little things everywhere with made in china stamps on them. I was shocked, and impressed, at the same time.
Kind of amazing looking at the Caribbean and African nations. China is there helping build their economies and we are out trying to destroy their governments. Anyone want to think how this is going to end?
It was not US or the western countries' neglect of the under developed or developing countries. It is a deliberate policy to keep them under developed so that they can continue to exploit them, not unlike when they were colonisers.
Truly enjoy Yr reporting not only it is frank, honest & current but also very beneficial to us economically but also promoting humility with yr intention to promote Peace, Growth & Cooperation.
What i really really like about digital payments is the amount is exactly the right amount down to the last 2 decimal point or rather cents. Take away a lot if misunderstandings between buyer and seller. I went to US the 1st time years ago and went to have some seafood. When come to payment, i then paid accordingly to the bill. But the waitress bark at me as why there is no âtipâ? Do i not like her services etc. I then add extra $10 and her facial expressions is awful. I then mentioned how much should i add? She mentioned 10 % of the amount. This mean the tip should be $15. But this $15 is from my own pocket and i cannot claim from my corporate travelling expenses as i cam claim only the amount indicated on the receipt. This $15 after conversion to my country of origin is equal to my food for 1 week. This $15 to me is bribe for her service? With digital payment, no untraced payment or hidden cost. Everything is transparent and upfront. No tip or bribe or commission or incentives or motivation fee etc
Living here in the bahamas. Love the digital currency but from my experience is that many people are nervous about the u.s. we have to pay high prices for us imports and it's a burden. And u.s banks fail in our country because of the way they want to attract customers. Too many debt offering and people ain't feeling on taking debt
The USA has taken the Caribbean/Bahamas for granted. The Caribbean/Bahama is on the backyard of USA, under the U.S. hegemony. The US exploitation of the Caribbean/Bahamas for nearly 100 years has incubated anti-USA sentiment and cultivated socialist/communism. Cuba is the primary example.
@10:20, While the products shipped to the Caribbean/Bahamas are made in China, there are the middle men involved: the financing company, insurance, and shipper. The finance company may demand the transaction use the USD, perhaps because the bank fears other currency is too volatile or the bankâs operation has been honed using the USD. Same for the insurance. Today, majority of international trade is conducted in USD because businessmen believe the USD is stable, widely traded, and convenience. Only a major lost of confidence in the USD will traders seek an alternative fiat currency for international trade.
Wow I'm just shock someone mentioned expert Mrs Mary I thought I'm the only one trading with her, She helped me recover what I lost trying to trade my self.
This century is undoubtedly Chinese. Prior to the rise of China, the global leaders particularly the West could take their own sweet time charting the future course for their products and services. They could easily continue where they left off after returning from a siesta or vacation. It is no longer easy to remain the dominant power without going the extra mile. Now the Chinese is constantly in pursuit of ways to better the lives of many who have been deprived and disconnected from the system. The West is losing sleep and fast running out of steam for the global #1 in keeping up or lose their relevance.
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Thank you Cyrus for talking about this topic. I learned something again.
Ancient China invented _paper currency,_ and gradually the rest of the world followed suit.
Now China has launched _digital currency,_ it's only a matter of time for the rest of the world to follow.
USA is only interested in creating wealth for the elite Americans. USA is doing whatever they can to amass resources from others, including slavery, political manipulation, military forces and anyways that they think possible. They never think of helping anyone, especially their immediate neighbors. Now the rich America is haunted by its poor neighbors in every means. So these neighbors will take the first available boats.
Vene.El.666..Todo.Se.Alinea.Y
Desgraciadamente.Somo.Nosotros
Lo.Latino.Americanos.Y.El.Caribe.
Que.Caemos.Como.Moscas
China.Por.Eso.El.Covid..Llego
Que.Dios.Tenga.Misericordia.
De.Todos.La.Nesecitamos
Why should the caribean and South America keep supporting the American lifestyle ?? American companies hardly has any major investments in the Caribbean for good reason. Most of the caribean and South America are black and brown people. Be honest bro!
As a chinese descendant of small factory owner (my dad đ )...he always say never underestimate your customer...no matter how "insignificant" their business to you. They are still your customer...that "little" money is still money...
So true..that's always the traditional principal of most Chinese business man.
@TaMing you would have done the non speaking Malay a big favour by translating it.
@@alhassangangu4357 little by little it become a hill.
@@asmadiliao2917 thank you very much.
Sound advise from a wise man!
Honestly in Africa we cant wait for This rmb digital currency. What China has done in and for Africa for the last 20 years is incredibly incomparable to what Europe has done for thé last 100 years.
So true! I would like to highlight more of what China is doing in Africa
100? More like 400!
Doesnt sound good. Watch out for chinas end-game. Danger for Africa. Do Africans want an undemocratic Africa in a world ruled by the chinese communist party. The most important thing is that in a democracy one can always vote a corrupted gov. out of power. This cannot be done in china.
@@andrewlambert7246 africa is not going to be ruled by china communist party they are gonna rule themselves thats what you westner cant understand!
@@andrewlambert7246
âIn a democracy, one can always vote a corrupt government out of power.â Seriously, this is 2022 already. You are a rapidly shrinking proportion of citizens of the world who havenât yet got tired of hearing that broken record. The Dems and the Republicans have been taking turns in Washington being âvoted in/outâ to empty out middle America. Until we see that democracy you talk about go through a revolution, your statement is just becoming a parody.
it's more to do with how the US uses the dollar as a weapon of hegemony. than not enough banks there. Many developing countries are tired of US using the dollar to dictate others on what to do.
The sneaky bullies is getting there medicine.
All American banks have bad money. Also same goes for Europe to. Money from Slavery, and drug Money. You don't believe me take a dope dog in any Bank and you will get a barking dog.
China has successfully used the Yuan as a weapon against its Citizens. So now , it is time to use it Worldwide đ
Many Chinese doing business abroad who have been forced to go back to China were threatened by telling them that their bank accounts will be seized and their Hukou terminated (residence card)
@@grantgerson2492 China is the only country allowed to bully others.
Xi is like a father to me
@
Dongsheng D
If you believe China is a peaceful and progressive country, raise your hand âđđ»ââïžđ
đ
đđââïžđââïžđ
The only ones thinking that China is a "threat" to world peace as the same nations engaged in wars every year.
đââïžđââïžđââïž
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China should help other countries expedite their own digital currencies so that any country can trade with any country without being at the mercy of a financial hegemon. This will increase trust in the Chinese digital RMB and also promote trade and stability between individual nations. The last thing we want is for countries to escape a financial hegemon only to fall into the arms of another.
Countries should also not presume that just because the current superpower abuses it's power, that an upcoming superpower will somehow also do the same as it's predecessor. It's just projection of the current superpower's crimes onto another that isn't even in power yet.
@@Shenzhou. I'm sure China has no intention of doing so, at least not the current leadership. But things can and will change over generations. That's why relationships have to be built upon exchange and reciprocity as much as possible, and not charity or goodwill. If all levers are held by one party (as what we're seeing with the US), it would inevitably lead to disgruntlement, maybe not in the short term, but definitely in the long term. Things will be more stable when all parties have something to lose in a relationship. From the perspective of China, it would also keep them on their toes in maintaining cordial relationships. Otherwise, they would succumb to complacency as have happened many times to great powers in the past. I think the current leadership have done commendably in this aspect so far and I hope they keep this up and resist the urge to over leverage on their influence.
That pretty much requires ground up education and at least a generation of understanding and implementation. And that's assuming the US isn't creating subterfuge to install puppet dictators to rip out the wires like they've been ripping out banking regulations set up by the FDR administration.
China cannot put pressure on countries or force them to choose. These countries have to decide themselves and there are still a lot trust to be build and it take time.
Yeah eventually, maybe US can help create a digital currencies for all other countries.
if you take a look at China's neighbouring countries and compare their economic development to those of the Caribbean countries, which are the neighbouring countries of the US, you may realize that China is making its neighbours richer and richer while the US doesn't really care about Central America countries. I think it is an obvious choice for those countries when comes to picking up a side.
Not by a long shot,RCEP just started. Lets hope it's stable around 5 to 7 % economic growth (not yet surpass Japan economic growth in its golden age). Africa economic growth will have higher growth in coming future.
true
@@lefttomboy3068 But Japanese golden age was very short. US clamped down hard on Japan and it never recovered. And Japan is the most reliable ally in Europe. LOL
amercan make japan rich
But China makes neighbouring countries poorer and poorer. China gives them *TOFU DREG PROJECTS,* sells them fake foods like plastic rice, sewer oil for cooking, toxic baby foods, etc. Also, China sells you bad steel like bendable, breakable rebars, crumbling concrete bricks, etc.
No thank you, China. We don't want your shitty goods.
Since most of the third world countries are sanctioned by Merica, or, they are third world countries because of Merica's sanctions, USD is not available to them. Digital Yuen is the perfect solution for these countries.
Why not Cryptocurrency which is digital and no country controls?
@@pardeeptandon crypto currency will be crushed in America. It's already being crushed and stamped out in China the past several months. Besides electricity is needed to produce of digital coins connected to the internet. Who controls the internet again? I already see where this is going. Pay close attention the next 2 or 3 years.
Maybe China will sanction these third world countries in the future? Yeah, probably.
@@pardeeptandon because crypto is subject to market booms and busts with lots of busts
@@pardeeptandon Because it's too unstable. Most people want to use state based FIATs
Ancient China invented _Paper Currency,_ and gradually the rest of the world followed suit and adopted paper currency.
Now China has launched _Digital Currency,_ and it's only a matter of time until the rest of the world follows.
Like how the rest of the world's females have been wearing the bra since its Chinese invention.
And they will soon reveal they have the ability to back it financially with previously undisclosed accumulated gold storage assets.
@@sjv9147s Like the whole world copied China eating noodles , Pasta
@@andrethorpe6183 Yes, Undisclosed Gold inventory âŠ
Plus don't forget all the unsold Real estate from Ghost Cities. They're also assets đ
@@dongshengdi773 Actually true. Pasta was copied the result of the Chinese noodles that Marco Polo brought back with him when he returned to Venice, Italy. Your fact-check history is impeccable.
If you enjoyed this video, raise your hand to show Cyrus Janssen your undying support âđđ»ââïžđ
@@Justsaying-cg2nz not evil
@@algodooperson7692 NOT Evil đ
Even Magneto and Thanos believe that they are the saviors of humanity .
It's United Front Work Committee propaganda. He makes good money for these videos.
Caribbean countries have had enough of US untrustiness. Singapore has always been working closely with China and there is no issues, no fuss.
Surely Singapore isn't so mindless or senseless to listen and obey US blindly.
There's also cultural identiy that Singapore shares with PRC.
They are kiasu
@@warheadvun5485 But queue-jumping is not practiced in Singapore as they do in China! LOL!
I've always love LKY. Back in the 60's interview you can see the western interviewers attempts to try and dominate LKY but never once did he bow down to them.
Singapore has become a colony of the US. It will jump when US says jump.
Why wouldn't they? The Chinese offer much better deals than the IMF does in terms of loans. And the Chinese have already delivered a Metro in Hanoi and a national railroad in Laos.
georgekostaras
do read about pakistan sri lanka etc where china build infrastructure .
if you wont be able to pay them the loan what the use when you just changeing your one master to another .
china is not doing charity at end this small countries will end up with loans of china becomeing its coloney .
@@siddharthkalantri5076 I have read about it. The Chinese charge a four percent interest rate, which is more than the IMF but is on parity for most commercial loans. With regards to the port in Sri Lanka, they now own 70 percent of the port after the government of Sri Lanka defaulted. Compare that to the IMF which demands that countries privatize their water supplies, sell off national assets and deregulate markets to the benefit of the USA. So far, the Chinese own a Sri Lankan port. Unlike the USA they haven't deposed the country's leadership, rigged elections or invaded. The Chinese are probably going to take that port and use it to print money. Altruism is not their goal. that said, what the IMF does, and what the West has traditionally done in these places is much, much worse.
@@georgekostaras
Sri Lankan bank pays USD 6.9 mn to Chinese company amid fertiliser row
read about sri lanka and china problem . srilanka had to pay the prise knowing its a faulty fertiliser and india had to help them in middle of season .
@@siddharthkalantri5076 It's shitty that Sri Lanka got ripped off by a Chinese company. It's also irrelevant to Chinese investment infrastructure.
@@georgekostaras
i mean buyers have no say in what they buy . ever thought european will allow any shady product to sell in there market .
that is reason i said never burn the briges .
after china conner your market will make rules for you also .
you wont be haveing any say or stake in your own countery
If you think the Caribbean has made the right choice in choosing China, raise your hand âđđ»ââïžđ„
âââ
Why are you everywhere? đ
đ„
đ
@@jiaxunchat I doubt anything will come out of China's digital Yuan. China doesn't have the rule of law. In order to be a reserve currency you need to have a legal system that the world can trust. You see people need to know that their money is safe and that contracts will be honored. Another big thing is China is constantly manipulating the value of it's currency up and down to maximize economic growth. That's good for GDP but not for a potential reserve currency.
If you think China's financial technology Fintech is more advanced than the West, raise your hand âđđ»ââïžđ„
@Justsaying only fools saying that they were offended
Your questions are so cringe you know that?
@@inkbold8511 I think his questions stoke Chinese pride. Something that is necessary to combat anti-China propaganda from the West.
If you WANT everybody to know how much you have and a small keystroke command to be able to take it all away. You are crazy. I LIKE real, physical currency too. Once you get it legally, it's YOURS. If somebody wants to take it, they need to grasp it out of your hands. Not behind your back by hacking a computer.
It's FINE for transactions and day-to-day bill payments, BUT, real money is ALWAYS more "moneyable".
I like a mix. Not just ONE extreme over the other.
Everyday raises hand, so tired⊠đ€Łđ€Łđ€Ł
It's right timing for the Caribbean to BREAK FREE, Truly No more slaves of America. ć æČčć æČčćć æČčïŒ
As long as one master is not replaced by another master; then thatâs a healthy partnership.
Great video Cyrus! Richard Turrin is such a knowledgeable guy in the digital arena and with regards to digital currency. He's also very frank and tells it like it is. Really learn a lot from him.
100% Agree! I love listening to Richard and always learn a lot from him
Totally, i too agree Ed.
except he didn't tell you that they make digital funds run out if you don't use them within a month so you will always be poor an a bitch to the government
Not many people in Singapore, including kids, are unbanked. Still, CBDC will be useful in ForEx cost reduction for any country, as the current conversion between two non-USD currencies still goes through USD as the middleman currency, and banks make money twice in every transaction.
That is exactly how the US skimmed off the wealth of all countries, not unlike a parasite, that are basically forced to use the USD. The sooner every country move away from using the USD for any transaction, the more they save on their national wealth.
No thk u. I prefer DBDC (Decentralized bank digital currency) aka bitcoin. All the benefits of CBDC and more plus FREE from control.
@@marlotree6909 Yeah, when the inventor became a multi-billionaire. Who know how many backdoors he created for himself. It is not backed by anything, so good luck owning it.
Absolutely! There is a huge need for CBDC even in advanced countries like Singapore
D
Cos all the US have ever brought was pain and miseries.
moreover, if china did anything better than they did, us will smear china's support, us just don't allow any tendency of getting better.đ
The Satanâs thirst for blood has not diminished yet.
well.. you cant expect them to use their massive đđeducated popu... .. .... ..đđ brah ha ha .... to reach #1 status?
The West is talking up the threat of China, especially in Asia specifically Hong Kong (which is within China) and Taiwan (which is part of China as per the One China policy) and the rest. However, national defence budgets say otherwise. The last conflict in Asia was in 1979 (China/Vietnam border war), since then Asia never been so safe and prosperous. With the implementation of RCEP as at the 1st Jan 22 that prosperity is set to increase astronomically for those 15 countries involved, ASEAN, South Korea, Japan, Australia and New Zealand. This view is also supported by the low defence budgets of countries within the region. Taiwanâs budget is at its lowest point, Japan is at 2%, hardly states under siege from China? So, wherever China goes, prosperity follows.
China is a straight up a police state, and a global bully constantly threatening war to other countries. The last thing Caribbean/jamacians would like to hear is... "I'm from the Chinese government and I'm here to help."
I get it... America does close to the exact same soft power bulls*it. that's why I'm worried.
I don't think china is out to kill but
Please don't go thinking that china is righteous or anything.
Also tell your agent not to invade Taiwan... that's not very cool.
And that war between China and Vietnam was started by Vietnam. Did you know that the Vietnam vs USA war, that lots of chinese soldiers went to help Vietnam? Meaning China helped Vietnam to win the war against the US. Why, because if the US has taken Vietnam, then the biggest thread will be directly south to China. Then those idiots in Vietnam turns around and attacks China. I thought history tells us that that war was done very quick. China destroyed Vietnam and didn't take over it country, which US would have done. China was only defending own borders and not attacking anyone. I can tell you this, China will not invade Taiwan. Those are brothers from the same mother. China wait paciently for Taiwan to want to return and join China again.
The American Bullying will not longer be tolerated .
Yes, only China has the right to bully other countries .
Only Thanos has the right to snap his finger and disappear half of the universe population đ
@@dongshengdi773 Everybody is thankful that China does not exercise its right. Only Amerika is arrogant enough to force everyone to submit to its demands.
ready for china lies?
Yes time is change
Finally they will be able to have power plants, ship yards, ports, farms and car manufacturers brought by Chinese gov unlike the US that brings political instability and chaos
Wonderful talk! Somehow made me think about the history of Chinese civil war, in which the CPC defeated US backed KMT in 1949. KMT basically controlled almost all the big cities, which had most wealth. The strategy of CPC was called "Countryside surrounding the cities" or ćæć ćŽććžă Most Chinese people lived in the country side then. They were poor and undereducated, but they were not stupid. They chose the party who treated them better. Make a lot of sense, right?
Agreed. During the Chinese Civil War, the Nationalist KMT had massive wealth (they taxed peasants heavily) they had superior weapons and superior numbers over the communists. Yet despite all these advantages, the KMT still lost the mainland to a bunch of dirt-poor, ill-equipped, starving communist peasants and had to flee to Taiwan. If anything, this demonstrates KMT's gross incompetence in their right to rule the mainland, while cementing the communist's right to rule China.
@@Shenzhou. A superior army losing to a bunch of dirt-poor ill-equipped peasants. Now where have we heard that story before?
@@harryviking6347 yes they do.
@@harryviking6347 If the Nationalist KMT were the supposed "chosen ones" then why'd the _Republic of China_ đčđŒ (1912-1949) lose the mainland to the _People's Republic of China_ đšđł and had to flee to Taiwan? Back then, the KMT had everything. Money, wealth, superior weapons, U.S funding, and superior numbers over the dirt-poor, ill-equipped, outnumbered starving communists. Several times during the Chinese Civil War, the communists were on the *brink of total annihilation,* by the KMT and it was through the sheer communist will to survive and Mao's strategy like the _Long March_ that enabled the communists to survive from the brink.
After the end of the Long March, communist numbers plummeted from *69,000* (October 1934) to *7,000* (October 1935) while the KMT army remained strong at over 300,000 personnel. Yet you really think the communists did not treat people good?
So Taiwan is a terrorist state?
As most products are made in China it will be easier to source directly using digital RMB to save transaction and exchange rate cost. Besides using the USD add no value and during this pandemic countries need America to improve USD liquidity to prevent a lock down on the financial markets. Hence with digital currency all this issues will be resolved and the SWIFT system is finally history.
Forgot to mention that china products are junk
Usa over supply usd not guarante with gold & than small country risk inflation from usađđđ
Yes Swift will become history and sanctions should not be so easily used by the Hegemon USA
14:58 That "Largest Trade Partner" map really puts things into perspective. đ€
Global South (and literally southern) countries _overwhelmingly_ have China as their largest trade partner by varying margins, while the USA ended up only being the biggest trade partner for the rich ex-colonial Western European countries... and even then, that lead is being contested.
People makes wise choices when they acquired the right understanding on the subject matter.
When USD lost its dominance, itâs the end of US hegemony đ
Imagine one day the US submit itself to China đ
Something 4/5 of the world is looking forward to.
@@relaxwhc donât give Americans hope for a better future
...and the end of liberty.
Welcome in dictatorship.
@@stephenlock7236 Yes, everybody in the World don't want to think for themselves.
We want the Communist regime to think for Everything , decide for Everything.
I just want to follow orders like a robot , so happy , No headaches .
Just Work in the field Planting Potatoes đ
It makes sense for smaller and developing countries to move to the digital rmb. Itâs cheaper and more effective
And most of the stuff they buy comes from China
China providing solutions to financial services problem in America's backyard is a double whammy for the US because it also eliminate the middle men services and save money for the countries. I'm quite sure the US will react with sanctions and/or using other forms of coercion on those countries as is often the case.
The Bahamas = Tax Havens for American Elites ! Digital Banking have to have Good and Secure Internet Connection ! American Military Weapons Industrial Complex including NATO Hegemonic Oligarchs Elites Privatised Endless Wars Bases Around the World is Anti - Humanity đâ ïžđ
@@raymondtay9442 China's "providing solutions"? Keep dreamin
@@daxtynminn3415 China is the solution.
Another reason digital rmb will bypass West SWIFT system, removing sanction risks
You are very smart.
Haha you think China wonât implement sanctions.
YAY yay yay! Down to USA imperialistic hegemonistic tyranny.
@@kbram7363 Pfft, western doing sanction the most, atleast there are contender for the current hegemony. Suck to be you westerners, now you will feel how to be colonized and drained dry!
America lost the Caribbean in particular Jamaica when the CIA meddled in the Government in late 1970s to the early 1980s. This region has been seen by America as a footstool and not respected. Aid to these nations comes with requirement to buy junk from America and so the enslavement continues by Anglo Saxons. Naturally, Jamaica and the Caribbean should be the best ally to the US, but without respect you cannot earn respect.
doesnât matter, cia still can meddle any country that still allow ngo, especially those organisations that spread imperialism human rights.
@@fannyalbi9040 Like catholic charities.
@@fannyalbi9040 China: Hold my power
Agreed, this American corruption activities had been going for centuries in most part of the world especially the developing countries. All these developing countries are still servicing these debt. Its time to wise up and move away from this "Mafia US bankers".
@@ielee1765 The Caribbean makes billions of US dollars in tourism each year on top of the hundreds of millions in aid we give. Aid to foreign countries do NOT have financial obligations attached to them, but they do come with political ones. In general, the agreements are non-binding but ask for Democratic principles be used by those we give aid to. Unlike the Chinese, we lease property to build military bases in many countries that we give aid to to help protect those countries from other foreign aggressors. China comes into poor countries and builds shipping ports and airports with low interest loans promising jobs and economic advancement. When these projects go belly-up, which they almost always do, China comes in and makes a deal with that country... China will forgive the loan under one condition, they get all properties and the improvements to those properties as Chinese territory. There is only one reason China does this... future world-wide dominance. Communist China wants to rule the world. It is 'passive aggression' personified.
Is America really pulling out of the Caribbean or is the Caribbean choosing China? Why would anyone use or pay a middle man when they can go directly to the source?
Because Latin America and Caribbean are the back garden of USA.
You can get surprised about how much some presidents in all this region are dogs of USA.
USA's method of "pulling out" is sanctioning. This 21st century, it's not working anymore & has the effect of pushing the sanctioned economies towards China, which is a constructive, not destructive, country to much better tie up with.
@@Ateshtesh Dogs of China CCP Sounds better
@@sjv9147s That's why China sanctioning other countries of the World is better just like in Australia, Asia , and Africa
@@dongshengdi773 I would love specific examples =D
I am from Puerto Rico and I approve đ
Three cheers đđđto Richard Turrin for his intensive and extensive unbiased digital knowledge on China - good that he is so willing and openly share his knowledge with the global citizens.
Who would you prefer to deal with if you are a Caribbean nations? A country that threaten, corce, interfere, exploit and invade you for over a hundred years OR a country that want to trade with you and bring development? It is logical who they choose.
It's a no brainer really having to choose between construction vs destruction.
You are spot on. And also choosing between a FRIEND vs BULLY
No brainer to choose between Freedom and communist lies and corruption
@@Jeff-ej4wp You are delusional mate
@@countalucard3405 Go to china and then get back to me clown.
@@countalucard3405 heâs raised on the American education system, he probably thinks sex is a social construct. Ignore him.
US had set a bad record in the Caribbean nations.
Actually, in most parts of the world.
Especially in my native country Haiti, such a beautiful country. US have destroyed the country from top to bottom. Make me cry .
Thats a lie
@@Jeff-ej4wp So, what's the truth?
@@sjv9147s
Do you have proof. You are an anti American
Reminds me of developing countries deploying wireless mobile technology to leapfrog communications instead of building cable links. Using central bank digital currency similarly leapfrog the reach to the underbanked and unbanked population in developing countries. Good call.
Good choice for Carribean countries. Break free from US regime.
Agreed. Gulf countries are doing the same, breaking free from U.S. domination.....
@@HamadAlMutairi97 Agreed âŠ
it is better to be shackled by Chinese regime. just like what Pol Pot , Mao, and Stalin did.
And follow the Ccp regime? Why not be on their own?
@@mikelbrenn111 Good choice. CCP will free you from the US regime. CCP is the future. Cheers!
china go home
InUS management style, there is the Pareto principle. We were drummed constantly by senior management that 80% of revenue came from 20% of customers. We were told to focus on the 20% and reduce costs on the 80%. In a time of tight revenue, you can guess what's going to happen. Right! Reduce cost on the 80%. No brainer.
In layman's terms nickel and dime the customer to maximize profits.
Everyone should be with China...what a beautiful society they have...
You don`t have the least idea what a totalitarian government is.
@@eddym5532 A Government that actually cares for the people? And not Big Business, A Government that has 100% Literacy for its people? A Government that fights Poverty? A Government that has death Penalty for Drug Dealers and White Collar criminals...Oh maybe I should vote Chaotic out of control America..lol
@@eddym5532 so like the USA? Yeah thatâs a totalitarian country
@iTz Wuzzi you assume Americans have those? Have you seen the propaganda
It is lucky China is at least somewhat strong, so China will not preyed like all other countries previously don't want to trade with US dollar. Wars with freedom & human rights đ
1) Existing banks in the Caribbean are a predatory oligarchy.
2) Financial services and not just core banking are what's needed
Expecting a very hard retaliation from those banker oligarch to stop digital yuan to break into their market at every cost
any banks đŠ are oligarchy, try world bank and imf then u know. It is exactly like âiron bankâ in game of thrones
China wants to build a military base in Caribbean area Jamaica or Cuba just like USSR did in,Cuba
Very impressed with your new direction of channel content towards this crucial topic. The main stream is treating the digital Yuan as merely one of the many cute technological novelties in the modernization within China. In probably much less than 2 years time when the main stream media woke up and starting to manufacture the tsunami of viral narratives on this potentially biggest yet geopolitical battle ground, you will be able to very proudly assure your audience your foresight for giving them the vaccination way ahead of that.
America left decades ago, China becomes the natural choice. Too late
Ancient China invented _paper currency,_ and the rest of the world gradually followed and adopted paper currency.
Now China has launched _digital currency,_ it's only a matter of time for the rest of the world to follow suit.
Digital yuan will not ever be able to surpass BTC. Why rely in a communist central system when you can have a decentralized system that supports privacy and freedom?
Time will show BTC prevail.
Thank you for the support! It will be interesting to see how this pans out in the Caribbean, but agree, maybe we look back in a few years and can say we saw this coming.
@@friarsteve7683 What is your mind? Can the people of the world rely only on the United States and not on other countries? absurd
Interesting topic! One of the key USPs of the Digital RMB is that countries using it will not be threatened by SWIFT as a result of US economic sanctions. Looking forward to the next videođ
Richard is an awesome guest. Helping to explain a complex topic and make it easier to understand for a layman like me. Thank you Gents!
When the Dollars become irrelevant, the world would become a better place
WISE WORDS đȘđâââââ
If it wasn't for the USA the the rest of would be a third world crap hole
China wouldn't be where they are today is because they stole everything the can't invent anything they must copie other nations invention
@@jairomunoz4191 Wise words.
We all want the world to have Planned economies like North Korea đ
Xi is like a father to us .
@@tedjones1822 the rest of the world suffer to this day because the US has been involved in wars 237yrs since its inceptive 1776.
Shame..
@@tedjones1822 And your corrupt politicians made that possible...... Don't tell me that you don't know that most of your corrupt politicians all across the board have interest in all those companies that are in China?
Did someone tell them that the biggest weapon that the Empire wields freely neely around the world is also its biggest weakness and probably the harbinger of its downfall. That petradollars ....
The Digital Currency is futuristic and helps tremendously developing countries world _wide.The 21st century is is already dominated by NEW ideas which is affordable and none threatening.We are already at the END of an age where the WHEEL has turned for a more inclusive approach so everyone can benefit and LIVE in peace.
Thanks to Bitcoin đ
Thanks to Satoshi
Whatever it takes, the world needs to find an alternative to the American Dollar. The world will benefit from the digital RMB when the US financial system goes bankrupt from debt and the insane printing of dollars.
china gave the world COVID and owes the world 13 Trillion in reparations
@@Jeff-ej4wp Come on now, we all know which Country had the most Covid infections and deaths. The USA is the superspreader nation that must answer to its citizens and the world how it bungled it up. We all know that the Covid virus was detected long ago in the States and Europe before China detected this threat that was imported from those areas. Let the Americans pay the reparations. Oh, I forgot, the USA is broke fighting all those wars.
đ
US doesnt want the small countries $ crumbs. There is a Malaysian saying " sikit sikit jadi bukit" Means bit by bit we built a mountain. assalamualaikum
US doesn't want small countries' money crumbs?
@@stephenlock7236 nope they are short sighted and China is embarrassing them
Nice, wise Malay saying. But Malaysia is saddled with the larger problems of corruption and affirmative action for their majority Malays.
@@sjv9147s Yes very corrupt and unfair, which is why I am no longer living there. The food is great though LOL
@@yenriver5255 I agree. The food though is really good. Malaysia has been on the edge of economic expansion for ages. It continues to be in POTENTIAL mode so long as the people in power work to sustain the status quo, sadly.
The U.S. move to decouple from China will backfire especially because of the digital RMB
USA needs BRI
The world wants China hegemony ,
Planned economy like what
Ho Chi Min did to Vietnam ,
Pol Pot did to Cambodia,
Kim did to North Korea âŠ
The world need to decouple from china
Sanctions proof CBDC (central bank-backed digital currency)
Caribbean population came from the slaves from Africa whose ships were ship wrecked there, imagine the true number of people who drowned.
Jenny Ohara; Google something you are not educated on before making a statement. The ships were not wrecked there, the ships destination was the caribbean. More slaves were imported there than to the United States.
Excellent interview as always in this channel! Keep doing so to be good for both nations and the planet. Thank you, Cyrus.
Thank you Kenny for the support
Richard Turrin is a great analyst and critical thinker. His opinions are unbiased and reflect the reality.
Corruption in the US being system deserves what is coming!
Just bought your book. Looking forward to reading.
It's an amazing read, enjoy it!
Really nice to hear the news from you because it is balanced news. Thank you from Korea đ°đ·
Thank you Cyrus & Richard, very informative & insightful!
Yes, we should look back at this big idea after a couple of years. I bet it could be as fruitful as the BRI, absolutely another game changer!
Absolutely....let's look back on this and see how it develops over the next few years
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As a man from Serbia I am happy about our government turning more and more towards China since I do see China as a future BUT I am afraid that China's "soft power" and lack of interest to militarily involve themselfs means that my country will be left alone agains powerful USA and NATO who undaoutably have interest that weaken Serbia with every year and every move leading to destabilization of Balkan reagion.
Maybe Serbia should stop associating with NATO and join the SCO and the CSTO as a full member, not just observer
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Very good point. Chinaâs non interference of othersâ internal affairs will have to be changed one day. Military alliance will also be needed. China is already being called lots of bad names including âbeing aggressiveâ. Imagine if they declare that Serbia is under Chinese nuclear protection. What will Russia think about it? What will the whole western world think about it? What does China gain from providing military/nuclear protection to Serbia which so far away? For North Korea, it makes more sense. It is more natural for Serbia to seek military protection from Russia since now Russia and China are actual allies but the name. But Serbia should consider what it can offer to Russia for return, you donât think that they will protect you for free?
A very thought provocative video. Refreshing and certainly something that can materialize in the near future.
I would have liked to hear about the U.S. weaponizing the dollar with regard to trade with many small nations, and maybe the reasons many small nations would want an alternative currency to protect themselves from the U.S. dollar hegemony.
This vlog is awesome as it used to be!
cyrus n turrin is always the golden collab who offers great content mixing up tech, financial, economy n geopolitical things.
Man, Keep it up!
Awesome! So glad you enjoyed
Now that the BBB Initiative has stalled, the USA should apply to China to join the Chinese BRI. Just a bit of swallowing pride, the US would end up with excellent first class infrastructure with no strings attached. If US doesn't, it will find in the future, 3rd world countries having magnificent and futuristic transportation and the US still stuck with their old tracks and ancient transport system. I hope the US doesn't carpet bomb them in a fit of envy and frustration ....in the name of human rights and democracy, no less.
They are already stuck with poor infrastructure
Amen
Thank you so much for bringing this conversation with Richard Turrin. I watched the first one but unfortunately I didn't follow up then. Right now I have bought Richard's book.
I am worried about Bukele in El Salvador having introduced bitcoin as legal currency. I understand that it was a bold move that makes life easier for thousands of migrants who send modest remittances back home and are heavily exploited by the likes of Western Union who charge high fees, but I don't trust cryptocurrencies at all as there is no responsible entity backing them up and they can crash at any moment. So a "real" electronic rmb currency will be much safer. I'm happy to live in exciting times!
Bukele is changing the face of El Salvador in every positive way possible.....the US government is making it impossible for Bitcoin to succeed.... blocking it and had tried to bully him not to use it ....I mean can you imagine if it works?....do you know what that would mean to the US dollar?.....there is your answer
Cyrus , I thing you are wonderful modern man of our times who may come from a country but convert himself a rational, universal identity with clear realistic logic to reach every middle class heart of the globe. All praise to you and my respect.....from India.
Time for the world to ditch the United States $$$$.
Richard Turrin has researched this subject in great depth and scope. Things he talked about are what reality is today and the depth of his research is simply amazing. I am reading his book now "Cashless". Thanks for bringing him on again Cyrus.
Thank you for another great video. Anything and everything to better people's lives and nothing for those who exploit the lives and toil of the innocent.
Very interesting subject - almost for all of us, western countries included, it makes sense to use the digital r m b, given that the bulk of what we buy and use is produced in China. As the saying goes, the Chinese are the only one to âbuy localâ everywhere in the world they happen to find themselves. đ
Excellent topic and talk.
Caribbean people are lotal to china especially places like Jamaica trinidad and guyana because they also gave a sizable Chinese mix population and Chinese immigrants as well .take me am part chinese Jamaican and we love our china becauof iyt blood connection unlike chinese from taiwan and Hong Kong
I heard Naomi Campbell is a mixed Hakka đ„
bow down to Xitler Caribbean
Brilliant stuff, Cyrus & Rich. Saving money in the short term is short sighted by the US arrogance of domination. It nice to see a competitor which will be a game changer. Remember we are globalised with no boundaries but the US will have boundaries as being very outdated until they changed and realised that the US is not the only inhabitants in the world.
Western countries slow in accepting new technology. Asia is faster in accepting new text.. It is the guy.
West invents all the new tech and china steals it
Educational, informative, articulate, great đ work
I have never seen in the whole world, there is a journalist in india who is so obsessed with one country, and always talks about it and slanders it every day. this is not a journalist but nothing more than a hater!
I think that is Palka of WION.
Cyrus do chat with Brain of The New Atlas Channel. Ex USA Army Man. His view is superb. Thank you
the chinese influence did not happen overnight.
When i visited cuba in 2010. I was greeted at the airport by a luxurious chinese tour bus. if i did not see the label, i would have thought was made in germany. when i arrived at the hotel, i found little things everywhere with made in china stamps on them. I was shocked, and impressed, at the same time.
Good point...I visited Cuba in 2012 and had a very good visit as well
Kind of amazing looking at the Caribbean and African nations. China is there helping build their economies and we are out trying to destroy their governments. Anyone want to think how this is going to end?
Very insightful of economic development in the developing countries which USA neglected as a superpower
It was not US or the western countries' neglect of the under developed or developing countries. It is a deliberate policy to keep them under developed so that they can continue to exploit them, not unlike when they were colonisers.
Very lively n very interesting, both of you. Keep it up.
Truly enjoy Yr reporting not only it is frank, honest & current but also very beneficial to us economically but also promoting humility with yr intention to promote Peace, Growth & Cooperation.
What i really really like about digital payments is the amount is exactly the right amount down to the last 2 decimal point or rather cents. Take away a lot if misunderstandings between buyer and seller. I went to US the 1st time years ago and went to have some seafood. When come to payment, i then paid accordingly to the bill. But the waitress bark at me as why there is no âtipâ? Do i not like her services etc. I then add extra $10 and her facial expressions is awful. I then mentioned how much should i add? She mentioned 10 % of the amount. This mean the tip should be $15. But this $15 is from my own pocket and i cannot claim from my corporate travelling expenses as i cam claim only the amount indicated on the receipt. This $15 after conversion to my country of origin is equal to my food for 1 week. This $15 to me is bribe for her service? With digital payment, no untraced payment or hidden cost. Everything is transparent and upfront. No tip or bribe or commission or incentives or motivation fee etc
Africa will follow suit...
Thank you! That was very informative!
Living here in the bahamas. Love the digital currency but from my experience is that many people are nervous about the u.s. we have to pay high prices for us imports and it's a burden.
And u.s banks fail in our country because of the way they want to attract customers. Too many debt offering and people ain't feeling on taking debt
When you use currency of your Biggest trading partner you can minimise exchange rate risk
Thank you Cyrus for the quality content. Looking forward to buying the book.
Thanks for the support Benny! You can purchase the book on Amazon, link in description, definitely recommend it! Richard did an amazing job writing it
The USA has taken the Caribbean/Bahamas for granted. The Caribbean/Bahama is on the backyard of USA, under the U.S. hegemony. The US exploitation of the Caribbean/Bahamas for nearly 100 years has incubated anti-USA sentiment and cultivated socialist/communism. Cuba is the primary example.
Cuba is the only Black nation with the courage to stand tall against the Monster that is America, but now that monster has a flesh wound.
Forget about waiting 2 years
Bring back this guest, he's brilliant.
Nice! Iâll get him back soon
we in the Caribbean are seeing results from working with China . you can actually see the progress.
china go home
True info & educational
@10:20, While the products shipped to the Caribbean/Bahamas are made in China, there are the middle men involved: the financing company, insurance, and shipper. The finance company may demand the transaction use the USD, perhaps because the bank fears other currency is too volatile or the bankâs operation has been honed using the USD. Same for the insurance. Today, majority of international trade is conducted in USD because businessmen believe the USD is stable, widely traded, and convenience. Only a major lost of confidence in the USD will traders seek an alternative fiat currency for international trade.
Looking forward for RMB digital currency. Hope it will eliminate currency speculation, money laundering, and also recession.
Always very insightful to hear from Richard đ
Mrs Mary is legit and her method works like magic I keep on earning every single week with her new strategy.
I receive my profit every 5 day's thanks so much.
Wow I'm just shock someone mentioned expert Mrs Mary I thought I'm the only one trading with her, She helped me recover what I lost trying to trade my self.
Yes I'm also a living testimony of expert Mrs Mary.
Mrs Mary has changed my financial status for the best.all thanks to my aunty who introduced her to me?
Who's this professional, everyone is talking about? I always see her post on top comment on every CZcams video I watched.
*Despite the economic crisis,this is a Still a good time to invest in stock and Crypto***
The rich spend less and invest more,Investing in these economic crisis will be one of the best thing to do
You're right I think stock and Crypto are the best to invest right nowâșïžAs stock's are good but crypto is better
Yeah My first investment with EXPERT ANN HAMILTON earned me profits of $25,620
and ever since then she has been delivering
The importance of a professional mentorship of an expert should be the first step in trading
Very informative on China Digital R & B. Thank you!
Thank you both for providing this segment to enlighten my view in the digital currency
Acceptance of new technology is what will make new countries to improve the
flood Caribbean with china junk LOL Caribbean needs panda dolls
This century is undoubtedly Chinese. Prior to the rise of China, the global leaders particularly the West could take their own sweet time charting the future course for their products and services. They could easily continue where they left off after returning from a siesta or vacation. It is no longer easy to remain the dominant power without going the extra mile.
Now the Chinese is constantly in pursuit of ways to better the lives of many who have been deprived and disconnected from the system. The West is losing sleep and fast running out of steam for the global #1 in keeping up or lose their relevance.
china has PCI lower than Mexico
I love Richard Turrinâs enthusiasm. His Cashless book is on my book pile to ready in the next couple of months.
Good discussion; Rich articulated this very well - thanks!