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Apr 8 - Peter Thiel: China Using Bitcoin as a ‘Financial Weapon’


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 1 month ago '05        #57
Emperor85 
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the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
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Top 10 most slapped recently  1 month ago '20        #56
Xiox  topics gone triple plat - Number 1 spot x1
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Stop spreading propaganda
+13   
 1 month ago '17        #55
1Oh 
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The world will move forward with or without the dinosaurs running America.
+12   
 1 month ago '21        #54
MrDoubtfire 
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This is pretty ballsy of a guy who's company he founded just started offering the ability to purchase crypto...wtf is in it for him
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 1 month ago '20        #53
Notpapi  topics gone triple plat - Number 1 spot x47
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“PayPal”

Yea this guy doesn’t have an agenda
+10   
 1 month ago '19        #52
pharoahX 
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slapped. The US doesn't need help fu*king up their financial system. House of cards imo but hey keep printing money and bailing out/undertaxing wealthy corporations.
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 1 month ago '04        #51
ItAlY2BkLyN 
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Bitcoin is a threat to fiat, but it's not China. That's just fear mongering with a scapegoat boogyman.

Many wars were started over the petrodollar. These dinosaurs can't adapt and fear losing control. But with Bitcoin, it's not losing control to China. It's losing control to We the People. Which is even more terrifying to them.
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 1 month ago '05        #50
Fauby  topics gone triple plat - Number 1 spot x1
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 Emperor85 said
the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
This. America is being run by old men that don't understand the future. America needs a president that's 37-45 ish next.
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 1 month ago '11        #49
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Sin  topics gone triple plat - Number 1 spot x29
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Apr 8 - Peter Thiel: China Using Bitcoin as a ‘Financial Weapon’
 

 
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Peter Thiel, billionaire venture capitalist, and PayPal co-founder advised the U.S. government to consider tighter regulations on cryptocurrencies.

Thiel made these comments after he expressing worry the Chinese are using bitcoin to corrode the U.S. financial system.

Bitcoin boogeyman

Thiel gave his more-than-skeptical sounding comments at a virtual roundtable for members of the Richard Nixon Foundation on April 7.

“Even though I’m a pro-crypto, pro-bitcoin maximalist person, I do wonder whether at this point, bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S,” said Thiel.


Thiel’s comment on the potential use of bitcoin as a “Chinese financial weapon” was followed by his forecast of its threat to fiat money and the U.S. dollar specifically.

This comes as China recently trialed its central bank-issued digital currency (CBDC). According to Thiel, this “internal stablecoin” will amount to nothing other than, “some sort of totalitarian measuring device”. However, he did urge U.S. policymakers to consider these crypto-forward moves from a geopolitical point of view.

Taking a stand

This is not the first time Thiel has leaned skeptical towards China. In late 2019, the venture capitalist repeatedly backed the San Francisco-based startup, Layer1. This was a bid to elevate the U.S. as a mining hotbed against the Chinese and its bitcoin mining monopoly.

Thiel isn’t the only one to take a stance against China’s potential intentions with digital currencies. Recently, celebrity investor and chairman of O’Shares ETFs, Kevin O’Leary, refused to accept any bitcoin mined in China.

Although O’Leary did not specifically call China’s crypto frenzy a threat to the U.S., he was sure to recall out the human rights abuses committed by China and its continuing trade war with the U.S.

Peter Thiel has a reputation for being a political firebrand. The ball is now the court of policymakers and legislators to decide how to proceed.

visit this link https://news.yahoo.com/pe .. 093000576.html
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 1 month ago '16        #48
Eastcoast 
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Good time to have Black allies in other nations. Anyway, if you in the game and making bank, pay them taxes.
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 1 month ago '12        #47
TrillSwag  topics gone triple plat - Number 1 spot x1
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America should start mining it full time because he ain’t lying China definitely is doing it full throttle. But we’re China’s number one trade partner so if Americans helping China get rich is a threat to America we shouldn’t be trading with them or letting mega conglomerates set up shops out their like Nike and apple etc
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 1 month ago '18        #46
antisocial100 
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Yo I’m tired of these old mfers. Like really get out of the way and let the youth /next generation make some change. These old mfers get wet dreams about writing down things with pen and sending mail to the post office
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 1 month ago '04        #45
d.c. supreme  topics gone triple plat - Number 1 spot x1
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 DavidTheMan said
China isn't even the US's biggest debt holder. China has also worked to move away from US bonds, ie US debt, at least starting 10 years ago because they know the US could easily screw them with that. On top of that, US debt held domestically is larger than US foreign debt in total. So the old ignorant fear mongering about the Chinese is just that, ignorant fear mongering.

lol, real estate doesn't negatively hurt the US, neither does social media.

smh, you seem to get all your talking points regarding the economy from MSM.
correct, china, russia and others have been replacing their dollar debt with gold and other currencies to avoid getting hurt by u.s. sanctions and the SWIFT system.

people swear china is the new top dog and i don't blame them because all the media does is fan hysteria and paranoia that it's actually real or inevitable to happen. they came close, but followed the same fate as japan in the late 80s. they've plateaued. post-growth future for them on deck. the u.s. as well but just not until the end of the century.
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 1 month ago '12        #44
TrillSwag  topics gone triple plat - Number 1 spot x1
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 BlackGod said
I highkey think foreign investments into property should be all but illegal (or massively disincentivized) for most all cases.

No country should have problems with homelessness and vacant buildings at the same time, and the guise of foreign investment as being a net positive because it raises property value means nothing for the majority of people
Agreed 100%. A lot of countries you have to be a citizen to buy property. It should be the same in America. Foreign money is a big reason we have inflated home prices.
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 1 month ago '04        #43
d.c. supreme  topics gone triple plat - Number 1 spot x1
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it's just funny because china has been
. also they've recently
in their main hot spot for it. they've also banned coin offerings. china has started rolling out their own digital centralized currency controlled by their central bank yet another way of the ccp to be able to track it's citizens and crack down on black market sales to gain more control over the money flow in their territory. using bitcoin is illegal within their banking system and they've shut down crypto exchanges in masse as well.

On July 6, 2018, the People’s Bank of China indicated that Chinese authorities had identified 88 virtual currency trading platforms and 85 ICO platforms, which have “basically all safely withdrawn from the market.” In the wake of the regulatory measures the government has instituted since September 2017, Bitcoin traded with Chinese yuan has dropped from over 90% of global Bitcoin trading to under 1%.
they're not using bitcoin to harm the u.s. dollar, they're trying to be able to get around using the u.s. dollar to facilitate their trade with other nations that aren't the u.s. this (like for russia and iran) is to avoid u.s. sanctions which freezes their ability to use dollars in their reserves (the SWIFT system.) so this means trading with nations like russia in their own currencies but there's danger in that being other nations' currencies aren't even close to as stable as the u.s. dollar. no nations' currency is. the euro is the closest and it's been declining ever since it failed to overtake the dollar as the top reserve currency. here's where they stand as today:




the u.s. dollar isn't going anywhere anytime soon i know we love to preach the doom and gloom and yes they've been devaluing the fu*k out of it for decades but so has every other country. and no central bank is going to let bitcoin a de-centralized a*set become their currency they're going to continue to seek centralized control which is why eventually countries ban it's ease of use in it's institutions. that doesn't mean they're going to stop bitcoin, bitcoin is not going anywhere either. it'll always hold value it's basically gold 2.0 at this point. it will always offer an outside system away from centralized banking for peers to trade.

but if the u.s. continues to wage economic war via sanctions on too many countries and not just specific isolated rivals it risks turning other nations off of the dollar because of those possible future punishments if the u.s. decides they don't like what their nation is doing anymore. not to mention the debt too, but again—every nation is in catastrophic debt not just the u.s. so i don't see that being as big of a problem as people like to point out. here's a good breakdown on why the dollar will continue to hold weight internationally for the foreseeable future;

Dethroning the dollar, however, will not be easy.

Jeffery Frankel, an economist at Harvard University, told Nikkei that the dollar enjoys three major advantages: the ability to maintain its value in the form of limited inflation and depreciation, the sheer size of the American domestic economy, and the United States having financial markets that are deep, liquid and open. So far, he argued, no rival currency has shown itself capable of outperforming the dollar on all three counts.
the key thing in the oncoming future to remember too is that line about the size of the american domestic economy. china is just as or even bigger a domestic market today. but... they're not liquid nor open, and their rapidly aging demographically (while the u.s. still has decades to go on that front thanks to millennials and zoomers which china doesn't have comparatively) which means that domestic market won't be an alternative in the future for the rest of the world either. you need young people to consume, and middle aged to invest to be able to support their massive elderly populations. and after the chinese market shrinks... there's nobody else.

japan is already cooked demographically they're the first "post growth" economy operating today and the rest of the world including all of europe, russia, korea and china are about to join them. no other developed nation's domestic market is going to be able to compete with the american market past 2030. which means capital is going to flee those markets to go to the american market where they can invest their money which will continue to fuel the dollar. the emerging markets like mexico, african countries just aren't there yet to compete and mexico is tied at the hip partnered with the american market as this point. it'll eventually be american's new china (it's already cheaper to manufacture in mexico than china) as they already took over from china as america's biggest trading partner—china is still biggest importers to america with mexico a close second but the u.s. exports far more to mexico making them the u.s. biggest trading partner.
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 1 month ago '04        #42
d.c. supreme  topics gone triple plat - Number 1 spot x1
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 MrDoubtfire said
This is pretty ballsy of a guy who's company he founded just started offering the ability to purchase crypto...wtf is in it for him
 d.c. supreme said
yeah thiel might as well be part of the department of defense at this point. the guy who invented the occulus rift palmer luckey got kicked out by zuckerberg when facebook bought it because of his trump fandom like thiel so thiel scooped him up and they're doing drones for the DoD now to combat chinese drones. palmer luckey's sister? ginger luckey who's currently engaged to matt gaetz another trump stan can't make this sh*t up.
kind of like elon musk he's basically a u.s. government contractor these days. i forgot to mention palantir another one of his companies which is contracted by the DoD too.
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 1 month ago '15        #41
PolygonMafia 
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 Emperor85 said
the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
I wouldn’t be too sure about them missing the boat..

The alphabet boys have sh*tloads of confiscated crypto. Like waaaay more than they let on. Probably used as a black-area slush fund. Why waste time mining it when you can just steal it from all the people in your prison state?
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 1 month ago '12        #40
TrillSwag  topics gone triple plat - Number 1 spot x1
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 DavidTheMan said
China isn't even the US's biggest debt holder. China has also worked to move away from US bonds, ie US debt, at least starting 10 years ago because they know the US could easily screw them with that. On top of that, US debt held domestically is larger than US foreign debt in total. So the old ignorant fear mongering about the Chinese is just that, ignorant fear mongering. That’s common sense not MM
Propaganda.

lol, real estate doesn't negatively hurt the US, neither does social media.

smh, you seem to get all your talking points regarding the economy from MSM.
How does China buying real estate not hurt America? Their just a store of value to China and majority of the time nobody lives there and it does nothing but raise the prices of homes and make it harder for the average American to get one.
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 1 month ago '05        #39
ice wolf  topics gone triple plat - Number 1 spot x3
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 datboy|e said
Sound like a true broken broke man
LOL at Americans complaining about their "oppression" while they drive foreigns and live with HVAC in their spacious homes while watching Netflix and checking their stocks and crypto holdings.
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 4 weeks ago '12        #38
TrillSwag  topics gone triple plat - Number 1 spot x1
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 DavidTheMan said
I'm an idiot and a troll, because I called out the logical absurdity in what you were arguing? lol.

real estate won't destroy the us economy and chinese purchase of real estate, just like japanese heavy real estate purchasing in the 80s will not hurt the US nor is it bad for the US.

China money laundering is taking money from the Chinese government illegally, and legally adding value to the US. That actually works in the US's favor. On top of that, the money that china would have to spend to effect the common us home buyer would be so much that it would be a boon to US home sellers, that it would offset any ills you are claiming would occur.

Again stop with the ignorant fear mongering.
Bad for Americans and destroying the us economy is two different things that nobody is arguing . So Chinese money laundering and buying homes all over America to hide their money and pricing out hard working Americans is good for America because they keep up with taxes lmaoo. Take your foreign propaganda to 4chan idiot.
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 4 weeks ago '04        #37
Burym3ag 
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 DavidTheMan said
How does it hurt America?
Doesn't matter if they are just a store, who are they buying the property from, who do they pay property taxes to?

Chinese buying property is no different than an american billionaire buying the property, or anyone else. If its for sale and bought, the market is simply working, the seller is getting compensated, he/she is the only person that matters anyway, not the nation or the state.

again basic economics folks.
you a fool. China buys property from overseas with their Large amounts of cash. They driving up the market. They got millionaires over there like it aint no thing. So your typical house that used to run 350k jumps up to 500k to even 1 million. I live in Vancouver BC where the houses are now 1.5-2.5 MILLION ...when years ago they used to be 500-700.. Why? Foreign money coming from over seas and buying everything.
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 1 month ago '04        #36
datboy|e 
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 CopyCat said
That's how Modern White Supremacy Mr. Peter Thiel.
Using money as weapon means keeping people you don't like in abject poverty while and exploit them perpetually. Or the Rich getting richer while the poor miserable Blacks are incarcerated in permanent poverty. Quite frankly, I don't give a damn than China is using bitcoin as a weapon because you (the West) taught how to do it and you're just mad now that it's someone non-White who's doing it.
Sound like a true broken broke man
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 1 month ago '17        #35
DavidTheMan 
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lol, his statement makes no sense at all.
You could literally say China and Russia are using gold and russia as a financial weapon. lol
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 1 month ago '04        #34
d.c. supreme  topics gone triple plat - Number 1 spot x1
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 BlackGod said
You are correct about the holders of the debt, and it's embarrasing that people still don't understand this (due to misinformation), but you're completely wrong about China buying American property, and foreign investments into property in general.

Money is put towards luxury high rises instead of affordable housing because it's more profitable to build, and nobody even lives in these buildings because they're bought by foreign investors for with money that a great deal of time is illicit.

It directly destroys supply and massively (artificially) inflates the price of the product that does exist. The only people that want it are the people in power who are already part of the money machine because it raises property values that they then profit from. No reasonable person thinks foreign investors should be able to buy property that will remain vacant while we have a homelessness problem and a housing crisis just so the rich can get richer instead of creating incentives to actually house workers and families.
correct, it only hurts us american people/consumers. the government LOVES them taking their capital away from china and elsewhere and storing it in america to consolidate more capital in it's own borders to be taxed and make revenue off of.
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 4 weeks ago '04        #33
nicoled985 
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 GrezyNclean said
Debt & US Dollar Example
Go watch To Big To Fail it explains how China owns tons of our debt. It's about the 2008 financial crisis








Real Estate Example (just one example) - hint Trump admin didn't stop it



Social Media
Russiagate obviously in 2016 with Facebook and Twitter. Don't think I need a link for that one
Yep China been buying US Real Estate under our noses. Who do you think owns those new empty condo buildings in major US Cities
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