Philosophy Now Forum

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March 26, 2018 : Petro-Yuan-Gold Contracts set to be released -

“In the next four weeks the global international finance system would witness adjustments as the Chinese launch its oil futures contracts in its currency, the Yuan.


The March 26, date fixed by the Chinese authorities would signal a prop up of the Yuan, its use as global currency, and probably put an end to the entrenched practice in paying for crude oil in United States dollar.”


...The end of the dollar...





USDT. Ever hear of the US Dollar Tether? = Stability.









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Bill Wiltrack wrote: ↑Sun Mar 18, 2018 10:39 pm .




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March 26, 2018 : Petro-Yuan-Gold Contracts set to be released -

“In the next four weeks the global international finance system would witness adjustments as the Chinese launch its oil futures contracts in its currency, the Yuan.


The March 26, date fixed by the Chinese authorities would signal a prop up of the Yuan, its use as global currency, and probably put an end to the entrenched practice in paying for crude oil in United States dollar.”


...The end of the dollar...





USDT. Ever hear of the US Dollar Tether? = Stability.









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So we can expect a US invasion of China then?

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......................................................................SENDING FREEDOM NOW !




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Science Fan wrote: ↑Sun Mar 18, 2018 9:38 pm Crypto-currencies are not undermining national sovereignty. This is because such currencies will always have a very limited use for at least two main reasons: 1. No country will accept them for the payment of taxes.

Well actually, that is already not true.

https://cointelegraph.com/news/us-arizo ... in-bitcoin

https://cointelegraph.com/news/us-georg ... s-licenses

But you're right that it will never undermine national currencies. By and large that's not the point.

Worse: we'll formally declare ourselves in default (fuck you, china, we ain't payin' you shit!) then hunker dwn till the dust settles.

Yep, we will cut off the nose to spite the face.

this generation will die before they "hunker down"

-Imp

Which generation? The snowflakes? Fuck, they're dead already.

Sir Sister: I was responding to the claim that Bitcoin was going to take over currencies issued by governments, so my comment about no government will accept Bitcoin for the payment of taxes still stands. A state government is not in competition with Bitcoin, because a state government does not issue any currency. State governments are currency users, which is why they can go bankrupt. The US federal government, on the other hand, is a currency issuer, and is in competition with Bitcoin. The federal government gets people to use its currency by doing such things as forcing people to pay their taxes in US currency. This is true for every other currency issuer as well.

Now, it does not surprise me that some economically unsophisticated state politician may be thinking that had we allowed our taxes to be paid with Bitcoin, then the appreciation in Bitcoin would have solved our budget problems. This is typical behavior we see regarding bubbles. However, these same politicians, if paid in a high-priced Bitcoin, only to see its value dramatically fall, will soon end payments by Bitcoin. They only have to be burned once to see the error of their ways.

People seem to be discussing not Countries but States. A great deal, I think, depends on national cultures. The Country I live in, which foreigners call for some reason Wails, or something such, seems to me a lot happier than out neighbours in the UK, because it is far more egalitarian in spirit and the people have a real sense of humour.