[Inside China Business] Tether and the BRICS’ central bank digital currencies are creating parallel, de-dollarized economies

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу (@Inside_China_Business). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Recent advances in blockchain, tokenization, and distributed ledgers make possible huge volumes of cross-border trade, at near-zero cost, and completely outside the oversight of US and European banking regulators. Ironically, most of the trade is done in US dollars, but entirely outside the US financial system. Tether is a private issuer of stablecoins pegged 1:1 to the US dollar. Tether has over 300 million users, will soon overtake Visa in transactions volume, and is more profitable than Blackrock. With just over $100 billion in reserves, over $190 billion in daily transaction volume runs their systems. The US Department of the Treasury has asked Congress for sweeping new powers, in an attempt to regulate the crypto markets that use US dollars as a medium of exchange outside American banks. Treasury officials singled out Tether as the entity of greatest concern. The BRICS countries, led by China, are tokenizing their vast foreign currency reserves and US dollar holdings. The success we have seen in Tether will explode in orders of magnitude once these CBCD’s come fully online, as banks in Hong Kong and Mainland China replace Western ones in the global economy, while using our own currency to do so. Resources and links: Federal Reserve Bank of St. Louis, US Balance of Payments Trending Economics on X, 2024 Fiscal deficit China’s foreign exchange reserves Inside China Business: 10x bigger than Bitcoin, Tether, and Gold: China’s Central Bank Digital Currency will dwarf them all Wall Street Journal, The Shadow Dollar That’s Fueling the Financial Underworld Wall Street Journal, Inside the Russian Shadow Trade for Weapons Parts, Fueled by Crypto Wall Street Journal, Treasury Asks Senate for New Powers to Curb Crypto Crime Financing Closing scene, Farm in Xizang