Pay No Attention To The Digital Yuan, Taiwan, & Ukraine

I feel like I've woken up into a Dystopian nightmare. Anyway, here we go

All hot off the press (except for 1 from late March):

China's digital yuan is really shaking things up in the financial news, and we have geopolitical tensions between the US and China/Russia heating up in 2 separate (strategic) areas of the globe right now (but the volatility "fear" index for the stock market AKA the VIX just dropped below 17 which is very low - for your reference, from today: CBOE VIX Plunges More Than 25% YTD)

More:

China's Central Bank digital currency, the digital Yuan is spooking some of the brightest minds & institutions in Western finance - Kyle Bass on CNBC today:

“This is the single most important move on the global chessboard in the last 20 years: how the U.S. and its allies interfaces or doesn’t interface with the Chinese Central Bank digital currency,” says Kyle Bass, Hayman Capital Management chief investment officer, told CNBC’s “Squawk Box” Tuesday.

Source: Hayman Capital’s Kyle Bass on why he sees Chinese Central Bank digital currency as a threat

Even economic powerhouses that historically have seemed to support the status quo and even loose fiscal policy are saying the enormous spending bills the US keeps passing will end in pain. Here is Larry Summers, former US Treasury Secretary, Chief Economist of the World Bank and president of Harvard, who said (yesterday):

“These are the least responsible fiscal macroeconomic policy we’ve have had for the last 40 years,” Summers said. “It’s fundamentally driven by intransigence on the Democratic left and intransigence and the completely irresponsible behavior in the whole of the Republican Party.”

Source (Bloomberg, March 20/21): Summers Sees ‘Least Responsible’ Fiscal Policy in 40 Years

Not sure if anyone else is familiar with the McAlvaney Weekly Commentary on monetary, economic and geo-political news and events, but their latest weekly commentary is the source of the title of the OP.

They discussed the US dollar's shelf life as the primary world reserve currency (hopefully this isn't breaking news for you), the tensions in Ukraine/Russia (as well as factual and verifiable information about a major potential conflict of interest/weak points in US politics due to Hunter Biden's board seat on Ukrainian energy conglomerate, Burisma, but this isn't the mud pit and I digress) as well as separate events in the South China sea, many threats to the value and demand of US dollars such as China's digital currency, the Digital Yuan (already being used on a small-scale in China) - published 2 hours ago on Youtube

Full Title of the weekly commentary/episode: Pay No Attention To The Digital Yuan, Taiwan, & Ukraine

Additionally, a great interview just published yesterday on Jeffrey Gundlach's Doubleline Capital channel discussing central bank digital currencies:

The Case for Central Bank Digital Currencies -Bill Campbell

China has been actively piloting "digital currency electronic payments" (DCEBs) since 2019 in multiple cities:

The first DCEP test began in late 2019 in the cities of Shenzhen , Suzhou, Xiong’an and Chengdu. More than 100 million yuan (US$15.2 million) worth of digital red packets – traditional Chinese gift envelopes – have been allocated to consumers by lottery since then, reaching tens of thousands citizens.

Source: China digital currency: Shanghai, Hainan among regions added to e-yuan trials www.scmp.com...

Also related, from my favorite common sense armchair economist & commentator, George Gammon (published 1 hour ago on Youtube);
The Covid Economy (How Today's Stimulus Will Destroy Tomorrow's Society)


I also just started a 6-part series on BBC, an Adam Curtis documentary, Can’t Get You Out of My Head, seems Extremely relevant to the topic of global meltdown

or maybe this link works better: youtu.be...

Lastly, a related thread about the potential (inevitable) transition to a new system in which policymakers can choose to print to infinity but only for their own political agendas:

The Game is Rigged: Modern Monetary Theory & The Great Reset

a reply to: FamCore

Holy epic meltdown, much to digest! I guess we warned..."1984", "Brave New World" to name a few. Just wanted to say thank you for the Adam Curtis docu. Didn't know of it, now added to my cue.

a reply to: EndtheMadnessNow

Thanks for re-posting the Adam Curtis documentary (part 1) - i'm halfway through Part 1 and it's superb so far