Tag Archives: America

China`s digital currency dominance

China`s new digital currency e-yuan is a big threat to the US dollar. E-yuan is expected to give China`s government vast new tools to monitor both its economy and its people. This is not only about the CCP`s ability to control China`s economy but also about their increasing global power, and it`s long running battle with the US dollar.

China has long said they are in war on Bitcoin. What some people don`t like is that Bitcoin is decentralized, but China`s digital currency is controlled by the CCP. In other words; the CCP can see everything you are doing with it.

Nearly 90% of foreign-exchange transactions involve dollars and more than 60% of all global central-bank reserves are held in dollar-denominated assets, and that gives the US tremendous power. But China doesn`t like that at all.

Photo by David McBee on Pexels.com

This is obviously a US security issue, but it doesn`t look like the Biden administration care much about right now. But they should, and that very fast if you ask me. The US often use sanctions on other countries, but now China can use their digital currency as a weapon on the US.

The communist China are pushing the IMF to the SDR (special drawing rights) issue. The currency value of the SDR is determined by summing the values in U.S dollars, based on market exchange rates, of a basket of major currencies.

The IMF`s SDR, the international reserve asset created in 1969 to prepare for a new dollar crisis, is undergoing a renaissance, with important worldwide repercussions. The announcement of by far the largest-ever increase in SDR allocations, which will greatly improve the liquidity of many developing nations, signals alignment between the US and China in a key area of global monetary power.

The US now agrees with using the IMF`s balance sheet to boost world liquidity. They are planning to more than triple SDR allocations by at least $500bn. This reflects a change in US policy to back measures strongly advocated last year by China as well as leading European and African countries.

Rich nations with large reserves will distribute part of their plentiful SDR stocks to poor countries.

The massive increase in SDR reserves, which can be converted into its five constituents; the dollar (42%), euro (31%), renminbi (11%), yen (8%) and sterling (8%) will indirectly boosts the Chiniese currency`s international reserve role, according to OMFIF (Official Monetary and Financial Institutions Forum).

In 2009, the United Nations suggested a new SDR-based global reserve system, feasible non-inflationary, and easily implemented, including in ways which mitigate the difficulties caused by asymmetric adjustment between surplus and deficit countries.

That same year, Zhou Xiaochuan, governor of the People`s Bank of China, proposed that the SDR could become the pivotal internationall reserve currency, disconnected from individual nations, as the light in the tunnel for the reform of the international monetary system.

Is this how they`re gonna reset the international monetary system?

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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The system is rigged and The Idea of a meritocracy has turned out to be a “myth”

President Donald Trump was right; the system is rigged. Dozens of parents are spending in some cases between $200,000 and $6,5 million US to ensure their children could gain entry into some of America`s most competitive colleges.

More than 50 wealthy individuals were charged this week in purportedly the largest college admission scam ever in th U.S. The scam reveals the depths parents will allegedly go so their kids can have an upper hand and tout first-class higher education credentials.

Critics of the U.S college admissions system say it also exposes a rigged playing field for admissions and who gets left behind, according to Cbc.

The Justice Department said wealthy parents paid a consulting firm to falsify athletic credentials with Photoshopped pictures of their children playing competitive sports they never played.

They also paid for arrangements to have SAT test-takers pose as their children, fabricate medical conditions to allow their children extra time to take tests, and bribe administrators of college entrance exams to look the other way when it came to their children`s cheating.

The $25-million scheme «drives home the reality that the education system is stacked in favour of the rich. The Idea of a meritocracy has turned out to be a «myth,» with the SAT acting as a form of «affirmative action for rich white kids,» author Joseph Soares said.

I`m not shocked at all, The West have lost its greatness long time ago and this is just the tip of the iceberg. You can imagine how it is if your soccer team have low-skilled players. You will lose every battle. So is it for a country.

You will end up with bad politicians, weak business leaders and fake news. If the kids learn to cheat at the school it will be worse in real life. Nothing is worse than a rotten elite. Just take a look at the real life among the elite Trump is trying to fix now. Manaford is the latest but I guess it will be more.

Trump has done a lot of thing to make America great again and this is the latest case. Trump who is a business man. Not a politician. The same can be said about president Macron. He started his own political party in the middle because people in France was sick and tired of the establishment.

The establishment is France didnt even follow their own constitution. They probably didnt learn it at their elite school. How is it possible? Look at the situation with the Yellow Vest protesters in France. This has been going on not only for years but decades.

Meritocracy is an Academic discipline from Ancient Greek. Philosophers tried to build a system and a great democracy but look at it today. They are not following the rules.

Meritocracy is a political philosophy that holds that certain things, such as economic goods or power, should be vested in individuals on the basis of talent, effort, and achievement, rather than factors such as sexuality, race, gender, age, or wealth.

Advancement in such a system is based on performance, as measured through examination or demonstrated achievement. The Meritocracy is the society in which the gifted, the smart, the energetic, the ambitious and the ruthless are carefully sifted out and helped towards their destined position of dominance.

In the United States, the assassination of President James A. Garfield in 1881 prompted the replacement of the American Spoils System with a meritocracy. In 1883, the Pendleton Civil Service Reform Act was passed, stipulating government jobs should be awarded on the basis of merit through competitive exams, rather than ties to politicians ar political affiliation.

The concept has existed for centuries but the term «meritocracy» is relatively new. The earliest example of an administrative meritocracy, based on civil service examinations, dates back to Ancient China.

The concept originates, at least by the sixth century BC, when it was advocated by the Chinese philosopher Confucius, who «invented the notion that those who govern should do so because of merit, not of inherited status.

Ass the Qin and Han dynasties developed a meritocratic system in order to maintain power over a large, sprawling empire, it became necessary for the government to maintain a complex network of officials.

Prospective officials could come from a rural background and government positions were not restricted to the nobility. Rank was determined by merit, through the civil service examinations, and education became the key for social mobility.

One of the oldest examples of a merit-based civil service system existed in the imperial bureaucracy of China. Tracing back to 200 B.C, the Han Dynasty adopted Confucianism as the basis of its political philosophy and structure, which included the revolutionary idea of replacing nobility of blood with one virtue and honesty, and thereby calling for administrative appointments to be based solely on merits.

This system allowed anyone who passed an examination to become a government officer, a position that would bring wealth and honor to the whole family. In part due to Chinese influence, the first European civil service did not originate in Europe, but rather in India by the British-run East India Company.

Company managers hired and promoted employees based on competitive examinations in order to prevent corruption and favoritism.

Both Plato and Aristotle advocated meritocracy. Plato in his «The Republic,» arguing that the wisest should rule, and hence the rulers should be philosopher kings.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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