China is considering the worst-case scenario.
News with Rick Sanchez –
China fights back against US plans to weaponize dollar
– Flash Points –
1 – The US has weaponized the dollar, and continues to do so.2 – China is fed up with US overreach and interference.
3 – China plans to create an alternative currency / payment system.
– Synopsis –
China has made a “bold declaration,” hinting that it will no longer tolerate US overreach / interference in global affairs. Instead, it intends to develop a “global currency to compete with the US dollar.”Preparing for the Worst
All in Favor of Independence
Owing to China’s heavy reliance on the US-dollar-based payments system, it is vulnerable to any sanctions or assaults by the US. Therefore, as correspondent Christy Ai noted, China is “trying to shift away and be less dependent on the US dollar.”In fact, it has already begun conducting some trade with India and Russia in their local currencies. * SWIFT = Society for Worldwide Interbank Financial Telecommunication
– Insight from Outside –
Suicide by Dictat
While China’s fears may be understandable, they may be unwarranted. As Christy Ai noted, cutting China off from the US-dollar payment system would be “economic suicide” for the US.