Quote from: Febo on October 15, 2020, 02:39:32 PM

Quote from: (o)(o)ilikeboobs(o)(o) on October 15, 2020, 02:15:52 PM

China is looking to get rid of the US dollar

Having all your eggs in the same basket is bad. China is diversifying. Not just now, they are doing this for more than a decade. They mainly buy God and other currencies. Eventually will switch also to Bitcoin, but that will probably be closer to end of this decade.

The Chinese government is very competent in the field of finance for their country. Their yuan is strengthening and, together with the digital yuan, will soon be able to claim to replace the dollar. It must be remembered that the dollar is printed almost uncontrollably and has no collateral, so the world should not rely on its value. It only provides the US government with unlimited financial power and advantages over other countries. States will not switch to bitcoin. They will focus on their digitalized central bank currencies.