Replies to post #24309 on Bitcoin (BTCUSD)

[turret101]

The dollar is tied to government spending and gold is tied to digging up the planet, neither are a solid bet, JMO, GLTA

[ATDS FB CULT]

Yea that's a good theory, but I bet it doesn't play out the way you think.

[ATDS FB CULT]

Chinas cbdc would be valued on the amount of gold THEY hold, which no one truly knows at the moment.
If it was backed by chinas gold, can you trade in your cbdc for gold from chinas stash? If you can't, then it's really not backed by anything, like Nixon faced.

China is about to have an unreal hard landing, they import 80% of their energy, don't have hardly any resources, their agricultural ability isn't the greatest, their demographics are and absolute train wreck, they have NO blue water navy and cannot protect their trade routes, they are the most debt leveraged society in human history, Japan hates them, Australia, Vietnam, India, South Korea as well.

They are barley unified, and that will break soon.

So China is basically done, they have no leadership ability in the region and other nations will not abandoned to us dollar for their currency to say the least.