CHINA’S CENTRAL BANK BANS BITCOIN… AGAIN
[‘CHINA BANS BITCOIN… AGAIN’ – MEME](https://www.youtube.com/watch?v=S3zlqHdmPQs)
China’s central bank re-published a September 15 memo on its website addressing the country’s Bitcoin ban, prompting a widespread Bitcoin sell-off and price drop on Friday morning.
China has banned Bitcoin (and every other crypto) many times in the past, and each time it has a smaller effect on the Bitcoin market, both in terms of percentage down and time duration.
Apparently this time it was only 7% down and lasted only a few hours before it started to recover from panic selling by new people who don’t know this story. It used to affect for months and the drop was as much as 50% of the Bitcoin price.
With the big economic real estate crisis they are going through, they don’t want people to have avenues out of China for their money, and Bitcoin is the only way people can get their money out of the centralized global financial system.
That system is concentrated in the power of a few who decide for the whole world, enriching more and more those close to the hose of trillions printed out of thin air and impoverishing populations, making the gap between rich and poor more marked, where a few individuals own more wealth than half of the world’s population combined.
Bitcoin is the way to fix that, where the field is level for everyone and there is no barrier to participate in this new decentralized financial system, all you need is a cell phone and internet access.
The CBDC (Central Bank Digital Currency) or China Digital Yuan.
Through this new CBDC (USA and other countries are planning the same) they want total control over money and therefore over their population. Centralized digital money under their total control, combined with the Orwellian “social credit scoring” program, will effectively have all citizens under their thumb, with no way out of total authoritarian centralized control.
Xi is effectively becoming an emperor with no way to remove him from power. The communist party already closed all avenues that could lead to that (legal, political, economic), crushing all forms of dissent and all freedoms.
Do you talk about anything other than absolute praise for the communist party and Xi? You get social demerits and you can’t travel, you can’t buy things with your digital money, etc. A real ‘Black Mirror’ dystopia.