Quote from: raspcoin on December 07, 2013, 11:16:03 AM

Quote from: JakeGold on December 07, 2013, 10:38:32 AM

The Chinese government sees bitcoin (and gold) as means to undercut the US world reserve currency. "The enemy of my enemy is my friend" as it were.

Rest assured, if the CNY was on top, they'd go for bitcoins throat in a heartbeat.

What is China then supposed to do with all their dollars?

Both of those commentators don't understand what is really going on.

China has a highly unbalanced economy with 2/3 on fixed investment and only 1/3 on consumer. Such imbalance is not sustainable. The leaders recognize this and have begun a plan to spend their dollars on imports and rebalance their economy with meaningful results by 2020.

None of the countries of the world are planning to use Bitcoin to defeat the reserve currency. The countries of world are run by the banksters who are part of club and they plan on bringing the world to an SDR reserve currency which is a basket. And then all the national currencies will float relative to the SDR reserve.

Bitcoin is no threat because as I explained in my previous post they can easily force everyone to demand everyone's identity. Divide-and-conquer baby, the elite know that.

No country will give up its absolute power over the issuance of money. That would mean politicians, banksters, and taipans would have to give up their power. Never will be, not unless we decapitate them with technology. And Bitcoin can't be it, it doesn't have anonymity.