De-dollarization & CBDCs: How digital currencies help countries drop US dollar
Why are countries seeking alternatives to the US …
Geopolitical Economy Report · Ben Norton
February 14, 202442m 28s
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Show Notes
Why are countries seeking alternatives to the US dollar? And what role can central bank digital currencies (CBDCs) play in dedollarization? Ben Norton explains how China is using the e-yuan (e-CNY) in new institutions like the mBridge system.
VIDEO: https://youtube.com/watch?v=v61dgvN81n0
US Congress plots to save dollar dominance amid global de-dollarization rebellion: https://geopoliticaleconomy.com/2023/06/20/us-congress-dollar-dominance-hearing
Topics
0:00 De-dollarization
6:03 Central bank digital currencies (CBDCs)
10:41 mBridge system
12:24 Why China and other countries use CBDCs
16:43 Surveillance? Or privatized tyranny?
19:54 Why Wall Street opposes CBDCs
25:21 Stability and bank bailouts
27:59 Monetary sovereignty
30:12 mBridge experiments
32:39 International trade (without dollars)
40:10 Why are CDBCs so feared in the US?
41:47 Outro