There is information that Russia and China are working on creating their own cryptocurrency , which will be tied to gold.
The plans of the two major powers told the US economist Jim Rickards. He did not specify where he got such information from, but he made some very serious arguments in favor of his statement.
According to Rickards, the work on digital currency by the joint efforts of Russia and China has been ongoing for several years. The future cryptocurrency will be supported by gold, which explains why Russia and China in recent years have been actively buying valuable metal.
In addition, one can observe another interesting fact. Creating such a large-scale digital currency will require technological solutions and specialists, and against this background, we recall the sudden rapprochement between Russia and the Chinese company Huawei, which is actually controlled by the state. It is possible that the parties are quietly working on cryptocurrency.
Why does Russia and China need their own cryptocurrency?
It's simple: now the dollar, fully controlled by the United States, is acting as the world currency. States can actually deprive any country of the opportunity to make any kind of transaction, because of which the whole economy can simply fall apart.
The digital counterpart from the two countries will be much more free and reliable in this regard. Its use cannot be prohibited unilaterally, and the binding of gold provides a constant value without inflation.
However, while official confirmation of this has not been reported. If this is confirmed, the economies of Russia and China can indeed gain significant advantages over the United States and weaken the effect of sanctions. Let's hope that official sources will shed light on this issue in the near future.
Publication date 08/20/2019
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