By Analyst on May 6, 2013
Bitcoin: The Newest Tool In China’s Currency War Chest
At the end of last week China Central Television, a state-run broadcaster, aired a documentary offering an overview of bitcoin and its potential benefits. Given the tight controls the Chinese government has over mainland media, this was not just tacit approval from the world’s second largest and centrally-run economy. It was a continuation of an ongoing series of rhetoric and actions to undermine the US Dollar, as well as destabilize the beneficiary of global reserve currency status: the United States.
*Excerpt from The Genesis Block. News article copyright Jonathan Stacke at The Genesis Block.