China s official app for digital yuan is seen on a mobile phone placed in front of an image of the Chinese flag, in this illustration picture taken October 16, 2020. REUTERS/Florence Lo/Illustration
Chinese officials have made it no secret that their greatly accelerated efforts at introducing and distributing the digital yuan are an opening move in their long-term strategy to undermine the dollar’s global supremacy and expand their influence.
Despite that, leading US financial officials have rolled their eyes at any suggestion that deeper dangers lurk for the dollar, and thus also for US national security, in the global digital currency race. Even as China marches forward and bitcoin’s market value reaches one trillion dollars, the US Federal Reserve had been in no hurry to be a contestant.
Jerome Von Havenstein : Inflation Or Bust!
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Op-Ed: A Digital Dollar Would Help the U S and Its Allies Keep China in Check
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WHAT IT MEANS FOR CLIMATE LEGISLATION: Did Senate parliamentarian Elizabeth MacDonough just put a kibosh on liberal dreams for passing climate legislation without Republican votes?
To review: Some Democrats were aiming to test the limits of the “Byrd Rule” that prohibits “extraneous matters” unrelated to the budget to be considered in reconciliation, which