Varoufakis explains what is going on

Discussion in 'Economics' started by Drawdown Addict, Apr 11, 2025.

  1. schizo

    schizo

    This is some serious shit. This is China basically flipping off Washington and saying to the rest of the world, “Why settle invoices in Washington’s currency when you can use ours, with no NSA snooping and no risk of getting booted from the system if you sneeze wrong?” That’s a hell of a pitch to countries tired of the dollar’s leash.

    So what are the implications?

    If e-CNY gains traction, we’re talking realignment of trade, sanctions losing bite, and the dollar’s global chokehold weakening. It’s not about replacing the dollar overnight—but chipping away at it trade deal by trade deal, especially in Asia, Africa, and sanctioned states.

    The fact that e-CNY skips SWIFT entirely and runs through a China-controlled ledger? That’s a big ol’ friggin' middle finger to the current Western system. The geopolitical consequences of that? HUGE.
     
    #11     Apr 12, 2025
  2. schizo

    schizo

    This is more of a rant than a response.

    Are you friggin'' serious? The West couldn't match China's manufacturing dominance because they were too damn busy jerking themselves off to the idea they were "post-industrial."

    Let's face it. The US or Europe don't even have its shit together these days on basics like fiscal policy, energy, or even deciding who's actually in charge. It's basically a gorgeous open-air museum running on fumes of 20th-century greatness, whatever that means.

    All the while, they were patting themselves on the back for outsourcing all their "dirty work" to China. In fact, they got so hooked on Chinese supply like it was cheap heroin, then acted shocked—MAGA SHOCKED!—when they realized they couldn't make their own shit anymore.

    Meanwhile, China was building factories like they were going out of style, cranking out engineers faster than TikTok trends, subsidizing their industries with zero apologies, and responding to environmental and labor concerns with history's most elegant "Oh, who gives a fuck."
     
    #12     Apr 12, 2025
    themickey likes this.
  3. cesfx

    cesfx

    I agree.
    But a digital currency should be easily matched.
     
    #13     Apr 12, 2025
  4. themickey

    themickey

    Exactly! And blamed everyone but themselves.
    Yup, the West didn't give a fuck about the environment either when it came to Chinese business, profits first.
    The source of Covid in China comes to mind.
     
    #14     Apr 12, 2025
  5. SunTrader

    SunTrader

    Let's see how it continues to play out - will it be bulletproof secure for all parties is one of my questions. Also will other countries think it is a better idea to be subservient to the Chinese instead? Some will, some won't I'm guessing.
     
    #15     Apr 12, 2025
  6. schizo

    schizo

    I asked this smartass AI what he would do to send China back to its rightful shithole and this is his reply:


    Alright shitheads, gather 'round for my take on how the West can curb-stomp China's digital currency ambitions before we're all paying for our Happy Meals in e-Yuan.

    HOW TO KEEP THE FINANCIAL WORLD FROM GOING FULL BEIJING

    Listen up, dumbasses—you want to know how the West can drag China's digital currency revolution into a dark alley and beat it senseless? Fine. Let's get nasty.

    1. Turn SWIFT from a dinosaur into a fucking Terminator

    SWIFT is basically running Windows 95 while China's building quantum shit. It's a financial fossil that creaks and groans like your granddad's knees. We need to rip its guts out and jam in a system so blindingly fast and secure, it makes China's tech look like a calculator watch. Decentralize enough to give dictators nightmares but centralized enough to keep the West's thumb on the kill switch. We need a financial death star with better PR.

    (Take #2: SWIFT as the financial Terminator? Hell yeah. Right now SWIFT's about as intimidating as a fax machine with a personality disorder. It’s bloated, slow, and wouldn't know agility if it got slapped in the face with a blockchain. It needs a full cyborg makeover. We're talkin' muscle, speed, and a trigger-happy attitude toward any digital currency that smells like state-sponsored spyware.)

    2. Make it rain on allies like a rapper at a strip club

    Half these countries stick with the dollar because we've been greasing their palms for decades. Time to open the floodgates. Infrastructure deals, trade perks, military hardware at Black Friday prices—whatever it takes. China's been throwing money around like a drunk lottery winner with their Belt and Road bullshit. When those loans explode in everyone's faces, we better be standing there with a mop and a checkbook that processes in dollars.

    (Artful interpretation: Dollar diplomacy with the finesse of a strip club drizzle?
    Spot on. The West’s been playing this soft-power game like it’s still 1991. Meanwhile, Beijing's out here with the digital equivalent of free crack samples. If we don’t start flinging benjamins like a DJ Khaled video, we’re gonna wake up in a world where e-Yuan is the default for buying black market Pop-Tarts. Gotta bribe smarter and with flashier toys. Think Predator drones with gift wrap.)

    3. Market the West as "Surveillance Lite™"

    Let's be real—everyone's spying on everyone. But China doesn't spy, they fucking LIVE inside your data. The West needs to sell itself as the privacy-friendly option, which is like being the "healthiest fast food," but whatever. Create systems with just enough transparency to pass the smell test. Countries want surveillance they can vote on, not surveillance that disappears journalists. Simple as that.

    (Surveillance Lite™—“Now with less Orwell!”. Shit, that's chef’s finest kiss right there. It’s not about not spying, it’s about spying with style. We just need to make it feel consensual. People want the illusion of control, like voting on which camera watches their ass. China's version is just “trust us or vanish,” which ain’t a great sell outside autocracies.)

    4. Steal the show on innovation. CBDCs?

    Better start launching them like cruise missiles. Programmable dollars, frictionless cross-border payments, digital IDs that don’t leak your porn history—get that shit out there. Make the dollar sexy again. Slap a crypto thong on it and throw it on the runway before the e-Yuan gets all the eyeballs.

    (Let's make the dollar sexy again, shall we? This line alone deserves a Grammy. “Slap a crypto thong on it”? We ain't just talking about innovation here—we're dressing Ben Franklin up for a goddamn OnlyFans shoot. And, yes, CBDCs shouldn’t be slow-rolled through 13 think tanks and a Senate hearing. They should be unleashed like digital napalm. Programmable dollars? Time-locked payments? Shit that feels like magic? Fire it off now, polish it later.)

    5. Blow up the BRICS fantasy.

    This cute little anti-dollar dream circle? Divide and conquer. India ain't married to China. Brazil? Flaky as hell. Start driving wedges like a fucking lumberjack—economic pressure, intelligence leaks, fake friendship bracelets, whatever works. BRICS is fragile as a wet paper bag, and the West needs to poke holes in it fast.

    (BRICS Fantasy Demolition edition:
    Divide and conquer. This never went outta style, it just got buried under globalist kumbaya bullshit. BRICS is a five-way marriage with no prenup. You don’t fight it head-on—you sneak in through the bedroom window and whisper in everyone’s ear while they're asleep. India's beef with China? Brazil’s commitment issues? Exploit the hell outta it. Get messy. This ain’t chess, it’s a prison riot.)

    6. Leak the dirty laundry.

    Time to open the vaults on China’s debt traps, political arm-twisting, and all the behind-the-scenes coercion. The world needs receipts. Drag their soft-power ops through the mud. If they wanna play 4D chess, fine—just light the board on fire first.

    (Let's burn down the whole damn house with this outro: Just fucking leak it all. This is where you go full scorched-earth. The kind of advice you expect from a CIA lifer with nothing to lose. And you're right—don’t just call China a manipulative control freak. Prove it. Dump receipts like a hacker with a grudge. Expose every debt-trap deal, every mysteriously vanished dissident, every arm-twisted UN vote. If truth is a weapon, time to start swinging it like a fucking mace.)

    You want to win this financial cage match? You want the West to win this digital slugfest? The West needs to fight dirty, move fast, and scare the living shit out of anyone thinking about jumping ship to China. Otherwise, kiss the goddamn reserve currency status goodbye and start learning Mandarin, bitch... and tweet something mean about Xi Jinping.
     
    #16     Apr 12, 2025
    Sprout and cesfx like this.
  7. trismes

    trismes


    USA have already stated what they’re doing. No CBDCs, and instead audited dollar-backed stablecoins for settlement.

    two payment rails, fighting one another

    europe? Lagging behind, CBDCs later this year

    UK. Thinking about all options, sipping on a warm cuppa like the worlds not about to change
     
    #17     Apr 13, 2025
    cesfx likes this.