Cryptocurrencies

Year of China, Big Tech and Bitcoin (BTC) – Cryptocurrencies

Joe Biden surrounds himself with a Bitcoin (BTC) pessimist

The Covid-19 is believed to have killed 2 million people worldwide in 2020. The lockdowns advocated first by China, then by the World Health Organization, have devastated the economy. But 3 players have pulled out of the game: Big Tech billionaires, China, but also Bitcoin (BTC), the only consolation for the masses crushed under a screed of sanitary lead.


2020, year of the rat

Dictator Xi Jinping has declared with much fanfare that China is the only major economy to show GDP growth in 2020. As Western economies slipped into recession due to the virus that originated in Wuhan, the Middle Empire should see its GDP increase by 1.9% in 2020 and more than 8% in 2021. At this rate, China, which is already the world’s largest economy at purchasing power parity, will see its GDP exceed that of its uncle Sam from here … 2028.

Beijing posted an annual trade surplus of $ 460 billion in the first 11 months of 2020 (+ 21%). This is ultimately the result of the relocations of the captains of Western industries and the forfeiture of the signing of very naive trade agreements in the face of the Asian ogre. In 2001, when it joined the World Trade Organization (WTO), the Chinese promised to fully open their market. Instead, counterfeit factories and forced technology transfers to foreign companies have been the rule …

china usa trade balance

Western leaders have consciously decided to take advantage of the Chinese slave armies. The consequence is that we now have more service-oriented and high-tech economies. But it is the services, requiring face-to-face interactions, that have suffered the most during this grotesque confinement that is more like economic sabotage than anything else. The Chinese economy has therefore been shown to be more resilient than that of Europe or the United States, whose GDP is expected to decline by 3.5% for 2020.

And to crown this victorious year, China could also find itself with an ally on the side of the White House (or not… see you on January 06). Joe Biden has said on several occasions that he does not view China as a rival. Some will object by recalling that the sixty-year-old wants to penalize multinationals which relocate their factories to China. But this is just an electoral swindle. The truth is that American multinationals such as Apple or Nike no longer outsource but simply buy what they need from contractors. Biden’s policy aligns perfectly with Chinese interests. And it is not the very close ties between his son Hunter and the Chinese Communist regime that argue for the contrary …

It is a stark contrast to Donald Trump who campaigned on promising to bring jobs back from China to the United States. A promise that has since turned into an economic war but also an unemployment rate at the lowest in decades (3.5%). And then the pandemic struck …

2020, year of Bitcoin

In a free-trade world, billionaires in the West do not care about maintaining a manufacturing base and jobs in their countries. Whatever happens, their fortunes (the stock market) go one way, benefiting from a banking system designed to drain money from the masses to the top 1%. Look at the S&P 500 which climbed 15% in 2020 while dividends rose only 0.7%… Why?

Because the massive purchases by central banks are drying up the supply of government debt and forcing investment funds, pension funds and other hedge funds to place their money elsewhere, in the stock market … Stock prices are now reaching low bubble levels that will not withstand the next oil shock.

central bank balance sheet of the g10
G10 central bank balance sheet
Here is the result of massive purchases of government debt by central banks. The balance sheets of major central banks have increased sevenfold since 2008

Central bankers appear to be confident in their ability to inflate the stock market ad vitam aeternam because they believe there is no alternative. This was without counting Bitcoin, which offers a loophole to protect itself from the inflation of assets reserved for the big stock exchanges (real estate, stock market shares, commodity mines). It is because Bitcoin is a way out of this inflationary ponzi scheme’s dupe game that it is in the crosshairs of the media, banks and governments.

Do not expect the journalists / valets of Le Monde, Le Figaro, l’Obs, de l’Express, TF1 and BFM TV, paid by Bouygues, Niel, Arnault, Pinault, Drahi, Bill Gates, Google and the ‘French State, praise Bitcoin …

Yet it is a great source of wealth redistribution. More than 200% increase per year on average since its creation. In 2020, Bitcoin even appreciated by more than 300%. An entirely predictable fate given the speed at which the printing press is spinning as well as the barely concealed ambition to make cash disappear.

Banknotes for large and bankruptcy for small

Bitcoin feeds on inflation and allows new generations – non-technophobic unlike their elders – to redistribute some of the wealth siphoned off by obese dynasties.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

The fortune of the 6,000 billionaires in the world now represents $ 10,200 billion. Enough to give more than $ 2,000 to each human … The Covid crisis has resulted in a 27.5% increase in their fortune, according to the Guardian.

Meanwhile, the poverty rate is approaching 12% in the United States, where the 600 local billionaires have made more than $ 900 billion. Especially those from Big Tech like Mark Zuckerberg, Bill Gates, Larry Page (Google), Larry Ellison (Oracle) or Elon Musk whose fortune has increased tenfold this year.

The Wall Street Journal reports that 100,000 small businesses closed in 2020. The New York newspaper adds that companies with less than 100 employees only represented 33% of jobs in 2018 against 40% in 1989.

It is no longer a secret that the emergence of behemoths like Amazon is destroying jobs by the millions instead of creating them. The confinement has exacerbated this deadly dynamic which made Jeff Bezos’ fortune jump by 80%. Walmart (US equivalent of Carrefour) increased its profits by 45% … Faced with this gargantuan, their employees were able to count their hourly wage increases in cents this year …

Our system is completely corrupted: monetary creation exclusively from debt; printing press exacerbating inequalities through inflation of assets; States instrumentalised to destroy competition from small businesses; job-destroying trade agreements.

The icing on the cake: frontal attack on small businesses and the emergence of a society increasingly dependent on Big Tech to operate (online orders) and keep informed (facebook, twitter, google).

Big Tech Brother

The consequence of this system favoring the concentration of power and the emergence of billionaires is the erosion of our remnants of democracies through the purchase of all the press and censorship on social networks. The US election is a good example. While Donald Trump had taken advantage of the services of Cambridge analytica to get elected in 2017, Facebook has this time clearly decided to tip the scales in favor of Joe Biden. The same goes for Google, which uses its algorithm to censor pro-Trump newspapers.

“A Biden administration would be entirely in collusion with Big Tech (Twitter, Facebook, Google). “

Ted Cruz, Republican Senator representing Texas

[Le but ici n’est pas d’affirmer que l’élection US a été truquée, mais d’illustrer les dérives de Big Tech]

Beyond censorship, the natural consequence of data collection is the establishment of mechanisms similar to Chinese “social credit”. The GAFAMs eye with envy on the communist dictatorship which openly rates its citizens according to their purchase history, their internet browsing history, their movements, their friends, etc.

Which brings us to the field of “FinTech”. In other words, the merger between the bank and Big Tech. Our purchase histories and the amount of our savings are indeed very valuable data for further refining mass surveillance and targeting.

The aim is to make cash disappear and it is no coincidence that multinationals are increasingly refusing cash, arguing that the spread of the C-19 must be avoided … Central banks , with their “CBDC” (false nose of the end of cash), will also be on a war footing at the beginning of the year. We will be following all of this very closely on Thecointribune.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Bitcoin, like using a VPN (ProtonVPN is free) to hide internet activity, is a weapon to guard against a Chinese-style dystopia. If 2020 was the year of China and its secret admirers of silicon valley, the rise of Bitcoin is its counter-revolution.

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