by Financial Argument via Financial Argument
China’s plans to crash the global economy. China’s bitcoin bans are inevitable. Yes, the ban was inevitable because, as you know, China also has a digital yuan project. The digital yuan is located on a central blockchain operating system under the control of China.
In many of my videos throughout the past year, I’ve analyzed China’s incredible food stockpiling in their preparation for the upcoming planned global food crisis, its role in the planned container crisis, and it’s geopolitical moves. Today, I will address another of China’s dark plans, namely the reasons behind their recent heavy hand against Bitcoin and other cryptocurrencies.
The Chinese government has imposed many bans and restrictions on Bitcoin and other cryptos in the past, so this is nothing new. However, the bans announced on the 24th of September 2021 were on another level, even for China, and unprecedented in history.
So why is China launching its campaign against Bitcoin?
Let’s go back a few years and take a look at a March 26, 2018 news report released by Xinhua. This development created a new monetary system called the PETROYUAN.
China’s hostility and resistance against Bitcoin makes sense. Wired explained this issue and mentioned that China’s bans are inevitable. Yes, the ban was inevitable because, as you know, China also has a digital yuan project. The digital yuan is located on a central blockchain operating system under the control of China.
According to this plan, China backs the yuan with gold and keeps it under its control on the blockchain by making it digital. Thus, it has created a plan against both the US dollar and Bitcoin. The US dollar is a centralized and unlimited printing currency not backed by gold. Bitcoin on the other hand, is limited like the digital yuan, but a decentralized cryptocurrency operating under a freer system. China’s oppressive leadership is against Bitcoin as its growth is impossible to control.
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