A number of articles have claimed that China is the first country to launch a sovereign cryptocurrency, but this is not exactly true.
Article by Antonio Graceffo from our premium news partners at The Epoch Times.
Money has three uses: as a medium of exchange, a store of value, and a unit of accounts. If an asset cannot be used to make purchases, stored in a savings account, or priced in goods and services, it is not money. China’s digital currency electronic payment (DCEP) or the digital yuan does not currently meet the above definition of money, although it seems the regime is keen on elevating the digital yuan’s status to that of currency.
Initially, a test rollout was done for the digital yuan earlier this year, with a limited number of merchants and citizens participating. Products were bought and sold in digital yuan for a very brief period until the central government prohibited businesses from transacting in digital yuan. Since then, the central bank has made it illegal for banks to accept savings deposits in cryptocurrencies. Additionally, the central bank is claiming that DCEP is not for speculation, like Bitcoin. To date, no foreign countries have added digital yuan to their foreign currency reserve holdings.
✔️ Boost your immune system with Nutraceutical by Dr. Zev Zelenko
✔️ Beat supply chain issues and future pharmaceutical tyranny with 5 Antibiotics Delivered to Your Home
✔️ Be ready to help yourself and your family with the World’s Best Med Kit
Since 2014, the People’s Bank of China’s (PBOC) digital currency research institute has been working on a DCEP or digital Chinese yuan (DCNY), also called central bank digital currency (CBDC) or e-CNY. While it was originally intended to be used to pay for goods and services, the central government is now saying that cryptocurrencies can only be used as investment assets.
It is expected that the regime is targeting the 2020 Winter Olympics for the real implementation of the digital yuan as a currency used for transactions. Unlike Bitcoin and other cryptocurrencies which must be traded on a platform, PBOC said that initially the digital yuan would be used on existing payment platforms WeChat and Alipay, which currently account for 90 percent of the country’s e-commerce.
A digital yuan virtual wallet can be linked with a bank account and payments can be made without an internet connection, simply by touching two phones together. WeChat and Alipay must also be linked to a bank account, so the only advantage to consumers seems to be the ability to use DCEP without the internet.
The regime claims that the digital yuan will be more anonymous than other cryptocurrencies because vendors will not be able to obtain or share user data. But the state would, as the digital yuan will be directly managed by the PBOC. Rather than blockchain technology, the digital yuan relies on a centralized ledger. Consequently, the PBOC would have complete control. This would allow the regime to maintain a firm grasp on the monetary system. Additionally, regulatory authorities will be able to track and scrutinize payments more easily and at a much deeper level than they can with current electronic payment systems.
The Chinese Communist Party (CCP) feels that the digital currency will help to modernize the financial system while reducing illegal activity. The regime doesn’t want Bitcoin, Libra, or other cryptocurrencies in the country because some of them are American or backed by the U.S. dollar, and none are linked to the yuan. Consequently, the CCP feels it would lose control over its currency.
While PBOC is working diligently to make its cryptocurrency a reality, the CCP is also cracking down on all other forms of cryptocurrency. In 2019, the regime blocked all access to domestic and foreign cryptocurrency exchanges and websites. In May 2021, the regime banned financial institutions from doing cryptocurrency business. Crypto exchanges and initial offerings have also been banned. Banks are even prohibited from offering savings services for cryptocurrencies. This year, the authorities shut down 90 percent of the country’s Bitcoin mining capacity.
It is believed that by taking these measures, the CCP wishes to increase financial stability and gain control over capital allocation, as mining cryptocurrency was draining resources. Furthermore, it wishes to improve the effectiveness of its monetary policy, which could be diluted in the face of competing currencies. Ultimately, the regime hopes that the digital yuan will help expedite the internationalization of the yuan.
The CCP would like international merchants to use the digital yuan for cross-border payments. Currently, the world does approximately $19 trillion of trade each year, using cross-border payments. But the CCP wants the world to use the yuan instead of the dollar. At present, in spite of China being the world’s largest exporter and one of the world’s largest trading nations, the yuan accounts for only 1.88 percent of global payments and only 1.95 percent of the reserve currencies held in central banks around the world. It seems unlikely that foreign nations would be more willing to hold digital yuan, rather than hard currency.
The benefits of the digital yuan seem to favor the CCP regime, rather than the Chinese people. Laws preventing capital flight limit Chinese citizens to converting $50,000 worth of yuan into U.S. dollars each year. Foreign cryptocurrencies were one of the ways that people found to get around this rule. With bans on foreign cryptocurrency activity and strict controls on the digital yuan, this option would no longer exist.
Additionally, the regime would benefit from the vast amounts of transaction and savings data it could collect on citizens and companies through the digital yuan. In the past, the CCP was dependent on third-party technology firms to gather and analyze similar data. With the digital yuan, the regime would no longer need to rely on these third parties. The data gathering would be automatic and in-house.
There is speculation that the social credit system will also be somehow linked to the digital yuan, making it easier for the CCP to punish those who violate its rules or edicts, including speaking out on social media.
If the digital yuan comes to fruition, it may become part of an even more draconian social control system than the one already implemented by the CCP. Those disloyal to the regime could have their accounts frozen. Those making payments to anyone the regime disapproves of could also feel the wrath of the CCP.
On the international front, the purpose of the digital yuan would be to displace the U.S. dollar in international commerce and in central bank reserves. This seems a long way off. And given the slow uptake of the paper yuan as an international currency, it seems unlikely. On the other hand, if China’s trading partners, such as North Korea, Iran, Cambodia, and possibly Afghanistan agree to use the digital yuan, it could be used to circumvent sanctions.
Antonio Graceffo, Ph.D., has spent over 20 years in Asia. He is a graduate of Shanghai University of Sport and holds a China-MBA from Shanghai Jiaotong University. Antonio works as an economics professor and China economic analyst, writing for various international media. Some of his China books include “Beyond the Belt and Road: China’s Global Economic Expansion” and “A Short Course on the Chinese Economy.”
Plandemic, Voter Fraud, Afghanistan: All Parts of The Great Reset
If you still consider “conspiracy theorist” to be a pejorative, you’re not paying enough attention.
What do Covid-19, 2020 (and beyond) election fraud, and our disastrous abandoning of American citizens in Afghanistan have to do with one another? They’re all parts of the globalist plan to usher in a new era of Neo-Marxism in a depopulated world. This is The Great Reset unfolding before our eyes, and the only way we can stop it (other than through constant prayer) is to stand together and spread the truth.
Covid-19’s attachment to The Great Reset is obvious, though we continue to post about it daily. Voter fraud is a bit less obvious but nonetheless easy to recognize when we understand that people like Joe Biden, Justin Trudeau, and Emmanuel Macron are pushing to “Build Back Better” under the precepts of Neo-Marxism.
The Afghanistan betrayal in August, 2021, is harder to associate with The Great Reset, but it’s definitely just as attached. We can see this is the unwillingness of the Biden regime to extend the deadline to withdraw despite American lives put clearly in harm’s way. We can see it in the needlessly abandoned military equipment that was conspicuously left intact; disabling a Black Hawk takes minutes but they were given to the Taliban in pristine working condition. Then, there’s the pallets of hundred dollar bills left for them. If you think all of this was just irresponsible governance, you probably think Barack Obama is out of politics, too.
Weakening America’s standing in the world and empowering the Chinese Communist Party and others to engage fully with our enemies in a globalist cabal are beneficial to the architects of The Great Reset, and both happened in one fell swoop in August.
These truths need to be spread. As a conservative network of news outlets, we are swimming upstream against the forces of mainstream media. We are getting canceled across the board by Big Tech. We will continue to spread the truth to millions, but we desperately need help to spread the truth to a wider range of people. This is where you come in.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Our network is currently comprised of nine sites:
- NOQ Report
- Conservative Playlist
- Truth. Based. Media.
- Freedom First Network
- Based Underground
- Uncanceled News
- American Conservative Movement
- Conservative Playbook
- Our Gold Guy
We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Also, we could use contributions of content. If you write or want to start writing and you share our patriotic, conservative, America First ideology, contact us. The contact form on this and all pages on the site goes directly to me.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
- MyPillow: Use promo code “NOQ” to get up to 66% off AND you’ll be helping a patriotic, America First company.
- Freedom Phone: Use promo code “MAGA” and get $50 off AND you’ll be helping a patriotic, America First company.
- OurGoldGuy: Tell them we sent you in your request to buy gold and it will help us… AND (wait for it) you’ll be helping a patriotic, America First company.
We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
JD Rucker
Bitcoin: 32SeW2Ajn86g4dATWtWreABhEkiqxsKUGn
Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Our network is currently comprised of six sites:
- NOQ Report
- Conservative Playlist
- Freedom First Network
- Based Underground
- Uncanceled News
- Our Gold Guy
We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
- MyPillow: Use promo code “NOQ” to get up to 66% off AND you’ll be helping a patriotic, America First company.
- ZStack: Improve your immune system with the Z-Stack protocol or rejuvenate your body from vaccines or shedding with Z-DTox by Dr. Vladimir Zelenko.
- OurGoldGuy: Tell them JD sent you in your request to buy gold and it will help us… AND (wait for it) you’ll be helping a patriotic, America First company.
- MyPatriotSupply: Stock up on long-term food, survival gear, and other things that you’ll need just in case things don’t recover and we keep heading towards apocalypse.
We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
JD Rucker
Bitcoin: 32SeW2Ajn86g4dATWtWreABhEkiqxsKUGn
All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.
With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!
JD Rucker – EIC
@jdrucker