Joe Rogan: The requisites for a Chinese social credit system in the West are now up and running.
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Where can I swap my USD$’s and AUD$’s for BidenBucks??
No need for any mystical prognostications … just take a look at what China is doing. You can be sure that every politician around the world feels their oats and desires the same power as they see available in China … so therefore they adopt the policy from China, perhaps a few years later.
The Chinese have had electronic payments via the phone for a long while, going through a state-sponsored enterprise, and feeding into their social credit system. Heck, we already have significant political control over most of the payment processors in the Western world: VISA, AMEX, Paypal, etc. In Canada they demonstrated the ability to freeze the bank accounts of political opponents … so it’s already here, give or take a small amount of cash transactions which you can’t use for paying your bills.
What happened to Russia when they got kicked off the Swift system? They immediately went straight across to the Chinese system. The only choice they got was being controlled under the Western copy of the Chinese central planners … or else end up controlled directly by the Chinese central planners. It’s not as if Putin is immune to the desire to impose his will on the Russian people, any more than any other world leader is. They all have a lust for power.
https://news.bitcoin.com/putin-signs-law-cryptocurrency-legal-russia/
Bringing in regulations for cryptos including a blanket ban that they cannot be used as any sort of payment system … not quite as strict as China where they are banned outright, but in effect not far off. If you can’t use cryptos for payment, what the heck would you do with them?