Goldtent TA Paradise

Gammon – Chinese Global Digital MMT

1. Fullgoldcrown says:

   December 25, 2020 - 12:03 am at 12:03 am

   pedro….this is incredible.

   Global MMT …It’s so diabolically simple

   The way George Explains this the Chinese have Won !

   And there is nothing to be done about it.

   Will the Western Banks and Fed just roll over and die without a game plan ?

   Were they caught off guard or are the somehow complicit ?

   What is wealth any more in a system such as this ?

2. pedro_deleon says:

   December 25, 2020 - 12:12 am at 12:12 am

   Suppose you know the PBOC can spew endless amounts of digital yuan out their MMT firehose.
   But you want to sell your house.

   How do you price it?
   I see the flexibility, efficiency, and control.
   But where is the valuation anchor?
   10% day over day inflation of bids and asks?
   What happens to those that don’t repay their loans?
   Social credit score drops? etc

   • Fullgoldcrown says:

     December 25, 2020 - 1:10 am at 1:10 am

     Who would want to be paid in a currency that has zero anchor

     Sounds like they will just loan it out with no restrictions…ie..you don’t need a good credit score if it doesn’t matter if you pay it back

     If everybody has unlimited access to this who will want to trade their goods and services for it ?

     More questions than answers right now…but this looks like an Austrian School Nightmare that not even Von Mises would be able to account for .

3. Highroller says:

   December 25, 2020 - 2:33 am at 2:33 am

   Cannot see it to work globally either. Euro wants to go digital, Canada also and many others. China getting away from the SWIFT system and away from financial banking threats of the west. I would have to show some chinaman my small business plans and get a loan?? As for making accounting sound like a breeze as money in and money out and simple, good luck with that, taxes and local laws apply. If no risk to loss then rampant inflation via easy free money. Digital just gives up our freedom by one more step. A HUGE step.

4. Chartsmaster says:

   December 25, 2020 - 7:15 am at 7:15 am

   Why do you think Trump has already set a deadline to end Chinese businesses participating in US and removing them from being listed on US stock exchanges. The US will make it illegal to download the Chinese currency app that he discusses in his video. Eventually the Chinese program will spread globally and we may at some point down the road participate either directly or indirectly. For the Chinese program(or any other, ECB, FED, BOJ etc.) to work and be adopted globally it needs to be backed by gold. The Chinese are the only one currently in a position to do so. They have the gold.

5. pedro_deleon says:

   December 25, 2020 - 9:33 am at 9:33 am

   Its WAY too early in my day to take up this topic in a serious way.
   But CM has the right idea.
   Sounds like this is a twist on BTC, maybe better given its scalability.

   But is it money?
   Money, among other features, must be a store of value. Ideally, a stable source of value over time. So this CCP_DY provides transactional efficiency. Cuts out bankers. Yeah. But instead we get 2m apparatchiks with the CCP high command. Whoah.

   The dollar is losing its utility as a store of value. Check out TSLA and AAPL etc. Inflated but real. Every other fiat is worse. A gold backed digital currency would be the reply. The CCP might even do that in response to competition, once they put THEIR network in place first.

   David C… any first thoughts?

   • pedro_deleon says:

     December 25, 2020 - 10:44 am at 10:44 am

     I had been under the impression that business engagement with China was preferable to military engagement.
     And that Bannon was over the top calling them enemies not rivals.
     But CodeMonkeyZ/Ron/4chan admin spent much of last week posting images of CCPers hanging with US pols down to the PA county level.
     And we’ve seen the reports of millions going to associates of GA pols tied up with Dominion. Barr now too.
     This is not just business engagement.
     The UK went thru this six decades ago, as memorialized here: (losing its identity)

     https://www.youtube.com/watch?v=xK8nkgZgOCU

     So I guess now its Selling Kansas Buck by Buck. Dorothy? Where have you gone?
     There … we have a song title .. anyone else for some lyrics? … I’ve set you up with some creative openings.

     Its more than just the loss of American identity, its political self determination we’re talking about. And that beacon for the world.
     We’ve already lost it, based on recent revelations and events.
     That’s why this election battle is SO important. There’s no going back once this slips completely away.

     • Chartsmaster says:

       December 25, 2020 - 11:29 am at 11:29 am

       Exactly, Biden and the whole deep state is bought and paid for by the Chinese. This is Trump wins and America continues at least for now or end game. First step on road to what happened to Hong Kong. Little by little we will be a Chinese Colony if not worse.

       • pedro_deleon says:

         December 25, 2020 - 11:59 am at 11:59 am

         “Are you ready for it?”

         https://kunstler.com/clusterfuck-nation/christmas-awokenings/