Godlike Productions - Discussion Forum
Users Online Now: 2,160 (Who's On?)Visitors Today: 615,118
Pageviews Today: 1,066,541Threads Today: 442Posts Today: 7,464
12:58 PM


Back to Forum
Back to Forum
Back to Thread
Back to Thread
REPLY TO THREAD
Subject Peter Thiel: China may be using bitcoin as ‘financial weapon’ against U.S.
User Name
 
 
Font color:  Font:








In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
Original Message [link to www.marketwatch.com (secure)]
[link to news.yahoo.com (secure)]

Thiel said China would like to see two global reserve currencies, rather than the dollar being the default reserve currency. But China doesn’t want its renminbi to fill that role, and in the past has used the euro “in part” as a weapon against the dollar. That hasn’t worked, so now China is trying to elevate bitcoin, Thiel argued.

“[If] China’s long bitcoin, perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works,” he said.


Appearing alongside former Secretary of State Mike Pompeo and former National Security Adviser Robert O'Brien at a virtual event held for members of the Richard Nixon Foundation, Thiel warned that Bitcoin may be a threat to the United States, indicating that his hawkish attitude toward China outweighs his crypto enthusiasm (Thiel is a major investor in virtual currency ventures and in cryptocurrencies themselves, Bloomberg notes).

Thiel explained that China isn't fond of the fact that the U.S. dollar is the world's major reserve currency because it gives the U.S. global economic "leverage," and he thinks Beijing may view Bitcoin as a tool that could chip away at the dollar's might. "I do wonder whether at this point, [if] Bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S.," he said, video from the event obtained by Bloomberg reveals. "It threatens fiat money, but it especially threatens the U.S. dollar ... perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works."
Pictures (click to insert)
5ahidingiamwithranttomatowtf
bsflagIdol1hfbumpyodayeahsure
banana2burnitafros226rockonredface
pigchefabductwhateverpeacecool2tounge
 | Next Page >>





GLP