*This must be resisted.* *MCM*
*From Cory Morningstar on Facebook:* https://www.facebook.com/mark.c.miller.50/posts/10163400068175613?notif_id=1588024962272390¬if_t=feedback_reaction_generic *This is an important post of what is going on in the background. As the public psyche is inundated with fear and "pandemic like a world war" metaphors/language, Western governments are waging a far different war. One that is not making the headlines. It is that of a currency war for global dominance as we enter the age of global digitalization.* *Again - this is not an anti-China sentiment post. This is NOT a post to meant to incite hatred or demonize the Chinese Government. This is about the GLOBAL roll out of digital currency and blockchain. (see April 19 2020 post)* *April 25, 2020: "For two days in a row last week, amid coronavirus-related market meltdowns, a group of stocks on China’s main exchange moved so significantly that they triggered automatic circuit-breakers designed to halt trading. But trading was suspended not because the stocks plummeted. It was because they soared.* *The explosive rally of digital currency-related stocks followed news that after several years of anticipation, China’s government released a timeline for rolling out its new digital currency in four cities.* *In the next month, government workers in these cities will use a smartphone application to receive at least a portion of their paychecks in the form of a digital payment, marking a milestone on the path toward the world’s first digital currency system by a major central bank.* *To some experts, the digital currency could represent a serious threat to an American asset that has reigned unchallenged for decades: the U.S. dollar.* *U.S. dollars reign supreme in the global economy. Nearly 90 percent of international transactions in 2019 were in U.S. dollars, and about 60 percent of all foreign exchange reserves in the world are in U.S. dollars, compared with the Chinese yuan, which makes up only 2 percent of global payments and reserves.* *The dominance gives Washington enormous power — even in issues that have little to do with finance. Because a linchpin of the global financial system is in New York, where dollar-based payment systems process trillions in transactions, the U.S. government has global muscle in enforcing sanctions...* *Domestically, the dollar has been a vital asset to Americans, too, especially in times of crisis. As demand for U.S. dollars has increased during the current coronavirus pandemic, the U.S. has been able to borrow at relatively low interest rates, helping to finance its rescue.* *“This is an important advantage for the U.S. in responding quickly to a crisis that policymakers in some other major economies lack,"...* *July 2019: U.S. Treasury Secretary Steven Mnuchin: “This is indeed a national security issue”* *To preserve the dollar’s status, analysts have been warning recently that the United States cannot afford to let China get ahead on cryptocurrency.* *Tim Morrison, a senior fellow at the Hudson Institute who served as a special assistant to President Donald Trump, told VOA that he believes the prospect of Beijing “dominating this emerging financial technology should be alarming.”* *In the United States, digital currencies are still in the planning stages. Facebook announced last summer a global digital currency called Libra, but it is still trying to win approval from regulators.* *Earlier in April, U.S. lawmakers introduced a bill that would authorize the Federal Reserve to create “Digital Dollar Account Wallets" called “FedAccounts” to distribute stimulus checks to business and citizens...* *"A China victory in the digital currency race would have profound negative effects for the U.S., and Western capitalism generally,” he said.* *Casey said even with a head start, it is still a long shot for China to win the battle. But he said, "If the U.S. doesn’t catch up soon, it’s going to lose.”...* *Although it is impossible to predict whether or when the dollar will be dethroned, an opinion piece reprinted by China's Commerce Ministry on its official website six years ago, when China began studying the development of a state digital currency, may offer a clue: "RMB will replace USD in the next 15 years," the site said.* *+++* *The World Economic Forum (WEF), in its report published on Jan. 22, 2020, concluded that central banks across the world have been waking up to the idea of CBDC (Central Bank Digital Currencies) now more than ever before.* *The WEF gathered representatives from more than 40 central banks and other financial institutions to create the CBDC Policy-Maker Toolkit. So far, the National Bank of Cambodia, Central Bank of Uruguay, Bank of Thailand, People’s Bank of China, and Eastern Caribbean Central Bank have agreed to use the toolkit to draw up plans for their own potential CBDC in the future.* *+++* *The implication of digitalization, AI and blockchain for citizens - and for humanity - is more than dire. And we are currently being conditioned for its acceptance and implementation.* *At present moment Chile & other countries are looking at digital immunity passports as the sole means to regain your revoked freedoms. This is nothing less than coercion.* *The irony: the passport is the conduit/ the foray into 4IR blockchain. Block & Chain. Linking behaviour to benefits.* *Freedom - in exchange for perpetual slavery and compliance.* *Emulating the digital immunity passport, a digital health passport will be the only means to access health services - a digital, woke coercion.* *See the critical research being done by Alison Hawver McDowell <https://www.facebook.com/alison.mcdowell.104?__tn__=%2CdKH-R-R&eid=ARC1sXRAbSbn3usOpJlBU25h1ptPraQM5z1YK1XkXJxWE86HwdtA8aem0ETB8iHZENRu7hr3UXjR-KGm&fref=mentions>.* *Links:* *April 25 2020:* *https://www.voanews.com/…/chinas-digital-currency-takes-sha…* <https://www.voanews.com/economy-business/chinas-digital-currency-takes-shape-will-it-challenge-dollar?fbclid=IwAR22IBAWH7O5otHTEp_drMxJJHaLhz-dDLUpb6HpQg-2UE-gTusR4h8z4pU> *April 22 2020:* *https://www.voanews.com/…/chinas-digital-currency-takes-sha…* <https://www.voanews.com/economy-business/chinas-digital-currency-takes-shape-will-it-challenge-dollar?fbclid=IwAR0RT6w4GvbUJZn8CedCfTcuHtCj62WG9qrHRVG5zpextywBbETtWDY-q_c> *April 3 3030:* *https://www.forbes.com/…/forget-the-digital-dollar-the-di…/…* <https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fbillybambrough%2F2020%2F04%2F03%2Fforget-the-digital-dollar-the-digital-euro-is-coming%2F%3Ffbclid%3DIwAR2JT2afu04NM3sPqEHDpvUttJ29k1awdGyQgNYkFSyeEA3G1jSCTrL52MQ%237990d631719f&h=AT1tDXHvFu9KZHVzPZQHm-411nV10bEq3QBDShsk3hONU_EJWlvEb7s8jp7-jxpn6RQenvmjJFHq-1CiR5XHaK-VjpOahsmqncwvKErqe_m2nK5iTg-3E6K2DEDaOIT4A9Fw6_5CDBtxo4UjoXKMrKCFbqhLz7a9tXw> *Jan 28 2020:* *https://forkast.news/china-blockchain-report-telecom-mobile/* <https://forkast.news/china-blockchain-report-telecom-mobile/?fbclid=IwAR0Nc6TFqFEO0Hf-mKah7MzhPQipFc1vx5clFNVku0alUag4ZaS3FmNVPQA> *April 23 2020:* *https://www.coindesk.com/starbucks-mcdonalds-among-19-firms…* <https://www.coindesk.com/starbucks-mcdonalds-among-19-firms-to-test-chinas-digital-yuan-report?fbclid=IwAR1Br6eGvmArbPyILVKMIBKrv_qrVKsxNdYmuIWLKV9PjsqUzIV-UrgP6QY> *April 27 2020:* *https://cryptonews.com/…/starbucks-denies-involvement-in-di…* <https://cryptonews.com/news/starbucks-denies-involvement-in-digital-yuan-tests-6397.htm?fbclid=IwAR2gxmZT-veo_IODxS2VAf2GWyAqWmxGNiqLJdpcRbxH7wIIKSm3jPsGBwA> *March 22 2020:* *https://beincrypto.com/could-central-bank-digital-currenci…/* <https://l.facebook.com/l.php?u=https%3A%2F%2Fbeincrypto.com%2Fcould-central-bank-digital-currencies-ever-replace-fiat%2F%3Ffbclid%3DIwAR0jkqjB2uoDsJECz7MXTphDAcQEFY19n5t9zFJBc8N52iXLoEDXIEjwm_I&h=AT1OKaMucKoIqJrxHYHMBAbNlZ-Ry1Q2YR2JSDE2sc6xIo5sO1UDjMNuRKlW5MO904spAYw14LdHbRclr8unk8PQ_jaZMqjnAU3dbVq540APhI7qDpmy86GKGVDVmZlGc5vdkY9nfV5JN0tCZq-q3LF3y_hx18bDHM0> -- If you appreciate News From Underground, please consider making a donation — either a one-time gift or a monthly subscription: http://markcrispinmiller.com/support/ Thank you for your support. 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