RE: The Dragon Stirs

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However, low volatility in the value of any currency should be a goal. Shouldn't it?

This depends on the person. Probably not for speculators and daytraders.

How do you feel about China's transition to a digital currency? Do you support and welcome it, or do you feel the conventional system works better?

To be honest, I do not undestand either of them.
Some people say that it is equally bad, because the government controlls both. Some people say that its digital currency is worse, because the government achieves even more control with it.

Also, what's your take on Venezuela and its use of the Petro?

I am aware of the bad situation in Venezuela. I hope that it will get better as soon as possible. Either by Petro or by something else, it should be solved as soon as possible.



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Thank you for your response.

Your comment about the currency's low volatility resonates with some comments by Chinese citizens. One comment said that the money wouldn't "be fun". Yeah, I guess it would be if you couldn't trade it on the market.

The government reports that transition to the digital currency will eliminate many problems resulting from illegal activities. It would also save them quite a bit of money from printing out a nation's worth of paper currency. What China doesn't communicate well is that it would grant them an additional level of control over the citizenry that we have not seen in our generation. Coupled with their social rating system, China will control someone's wealth to such a higher degree.

I hope things get better with Venezuela soon too. I hope whatever path they take works for them.


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