With China’s ban on cryptocurrencies, crypto gold is on the horizon
China is taking great strides towards the future. The progress that China has made in all areas of human life, in science, engineering and technology, in economics and especially in digital finance, is unquestionable. There is something admirable about the communist government of China, which is the absolute determination to preserve the economic order and social economic progress, protecting the economy and society against all sorts of threats coming from the neoliberal hordes of the West in frank decay.
The Chinese continue to steadfastly protect themselves against all neoliberal threats, including drugs of all kinds that the West tries to push them, after all, they remember the opium that the British empire forced them to consume. China takes effective measures to restrict dopamines from video games, digital media, and mainly, from the celebrity-mania. Drugs that are already an epidemic in the West and that cause great social damage, but which in the West are encouraged by corrupt elites who do not want their citizens become aware and see the crimes that these elites commit daily against their people.
China is fully shielded from the threats of hybrid wars carried out by the American empire. Their society is protected against fake news from the empire’s digital mafia, which uses social media in partnership with the CIA to spread colorful revolutions around the world. The attempt to start a color revolution from Hong Kong in 2019 has totally failed. The attempt to use AliPay to undermine China’s financial system by causing losses to Chinese savers has failed. The attempt to use cryptocurrencies to generate a harmful speculation to Chinese citizens has also failed.
But why did the Chinese decide to ban cryptocurrencies, including Bitcoin, which is a full decentralized cryptocurrency already well consolidated in several countries?
The answer is simple. Cryptocurrencies are completely contaminated by the fiat money of the corrupt and decadent Western world. The Chinese know that fiat money is the shortest way to economic destruction. They remember very well the fall of the Mongol Empire.
All assets in the western world are completely inflated and contaminated by the immense volume of fiat money that is dumped daily into western economies. This huge volume of toxic money spreads inflation, chaos and misery around the world. And it also spreads imperial terrorism through countless wars that only serve the interests of the mafia of the military-industrial-financial complex of the American empire. The Western world is drowning in fiat money, and to make matters worse, scarcity inflation, caused by the disruption of supply chains due to the pandemic, is adding to the inflation of fiat money.
When my friends asked me surprised why China banned even Bitcoin, which has in its DNA all the attributes that digital gold needs, I replied that even with the attributes of digital gold, it was contaminated by the excessive concentration of fiat money, which caused the concentration of all market assets. This is the problem with fiat money, it contaminates all the assets it touches and nullifies the benefits that could come from the correct use of those assets.
Now with the rejection of Bitcoin by the world’s largest de facto economy, its spread and adoption like digital gold becomes more difficult. Bitcoin, which could be added to physical gold in restoring the gold standard, is at the mercy of speculation caused by the uncontrolled issuance of fiat money.
With US dollar inflation accelerating, it is not long before the dollar collapses as an international currency. The world will need to rescue the economic order and this economic order must come with the restoration of the gold standard. How the restoration of the gold standard will take place is a big question, but I imagine it will be with the use of digital gold, since money is already becoming full digital. Whether this crypto gold will be backed by physical gold or black gold, petroleum, or both, we cannot predict, as this will be a multinational consensus.
Humanity already has a well-established experience with blockchain technology. Bitcoin is a perfect starting point for crafting crypto gold. The crypto gold project will be a universal project, carried out by several central banks without interference from private banks. The design of a new gold standard will only be possible after the collapse of the dollar. The big private banks that control the Fed and other central banks, which produce fiat money on a daily basis, will disappear as Lehman Brothers disappeared.
Global financial systems will be rescued by sovereign states, and private banks will be prohibited from interfering with central banks in the new economic order that will prevail. Neoliberalism will be considered a crime against humanity.
It is in this context of a post-fiat-money and post-neoliberalism world that this new order will emerge. Restoring the new gold standard will be the anti-Bretton-Woods, as Bretton Woods, when it established the US dollar as the global currency, planted the seed of fiat money that annihilated the gold standard. In this anti-Bretton-Woods, the signatories to the new gold standard will create the root blockchain that will initially distribute the crypto gold proportionately to the member countries of this new global financial system. The initial decentralization of crypto gold will allow these countries to have a global reference of value to establish their monetary and exchange policies.
One of the reasons Bitcoin was rejected as a standard of global value is because it deprives governments of the ability to exercise their monetary and exchange rate policies. And when a government cannot exercise these policies, that government cannot govern. For this reason, Bitcoin is rejected by countries that do not give up on economic governance. It is anarchic.
It seems that Bitcoin’s great mission is to make the dollar’s collapse happen faster and make the new economic order emerge sooner than previously thought. Bitcoin has generated the wave of cryptocurrencies, and these cryptocurrencies already comprise a significant volume of speculative assets that consume more and more fiat money, inevitably increasing inflation.
The Chinese know that when the very rich get together, they create a mafia to take over the state and corrupt the economic order in order to increase their privileges and powers over society. They know that the neoliberal mafia has already captured Western governments and completely deconstructed the good old capitalism.
China is aware of the destruction that the neoliberal mafia is spreading to the four corners of the world, and that is why China protects its economy, its institutions, its workers, its society, its financial system, continuing to build its project of a developed and egalitarian nation. In the first half of this century, the world will see a country with a fifth of the planet’s population providing a dignified and edifying life for all its citizens. Nearly one and a half billion citizens enjoying their universal rights to housing, public health and public education. A great country at the forefront of social advances, scientific and technological achievements and in the front of the exploration of outer space.
