Fiat-Crypto, Dollar decline;
Alternatives for Global Currency?

Some Updated sort of "News Digest" in continuation of the topic discussed in my previous recent post "New World Currency". There among other things I've mentioned the scenario of "Govs Issued Digital currencies" aka Fiat-Crypto; as well as too obvious ongoing shift away from USD - which is now all over the Mainstream Media (those interested can simply search for it).

WSJ published couple of days ago: "Can Bitcoin Become a Dominant Currency?"
Well, no definite answer is given by those "specialists" (I wonder: do they even hold Bitcoin or any Crypto themselves?), evidently Mainstream Media tries to keep the whole topic of Crypto Vs Fiat pretty much alive.
I think the main emphasis in the article is: "We need an ALTERNATIVE" !
otherwise to me it is not so useful information, perhaps more like some propaganda by bankers.

Other related news bits from earlier in last months:
Iran to Launch Its National Cryptocurrency to Combat U.S. Sanctions
Dubai's Onegram Enlists Islamic Cryptocurrency on Its Virtual Exchange

Now more recent fresh news:

Ripple XCurrent To Go Live At National Bank Of Kuwait
"Kuwaiti financial institution awaiting regulatory approval by the country's central bank"

No Bitcoin in UAE, Warns Central Bank

Chinese Cryptocurrency

15 Oct 2018 "Is China about to launch its own cryptocurrency?"
(unlike Japan, reportedly)

(source)

Notable in article:

China is already the most large Cashless Economy in the World, thanks to the duopoly of mobile payment apps - WeChat, by Tencent, and Alibaba’s Alipay. In 2017, the US hosted a total of $337 billion in online payments. In China, it was a whopping $15.7 trillion, $3.2 trillion more than Visa and Mastercard’s combined global volume. But Alibaba and Tencent are not owned by the state and it is highly unlikely the Chinese government will allow such a crucial shift to be controlled by private companies.

Another important thing:

But predicting when the US dollar will lose its global dominance has become economists’ favorite sport.

Remarkable that it is not "IF" but rather "WHEN" word being used here.
Especially so because this article published on the website of "WEF", not just some Yellow Press publication - but a venue in Davos, Switzerland where Global Business Elites gather annually to determine the Economic trends of the whole World.

De-Dollarization:
inevitable "Scam Exit" of Buck Almighty?

It has been openly and widely discussion already quite for a while, here is one example 1 year ago, with similar conclusion ("when", not "if"):

The process of moving away from the dollar — prepared by Europe and triggered by China and Russia — can no longer be stopped

1 Disarmament Ruble / Dollar

(source; BTW it's not a Photoshopped image, but a real Commemarative coin,
Notice mintage year: 1988!)

Meanwhile "Dollar Ditching" (aka "De-Dollarization") continues:
India sells over $15 billion US govt bonds
Russia, Ukraine, some other countries too, some are willing to join Russian alternative to SWIFT (which is practically controlled by US).

China, largest holder of US debt (~$1.2 trillion), also might employ it as tactical weapon in "trade war" with US (and India reciprocates), waged by Trump

(source)

A majority of Americans believe the U.S. is in a trade war with other countries, according to the latest edition of the Marketplace-Edison Research poll.

Well, perhaps they are actually being convinced into believing by Mainstream Media? :)

Fed's Bonds Bubble

(source)

Bond Bubble Conundrum

Wall Street shills are in near perfect agreement that the bond market is not in a bubble...
However, the fact that we are in a bond bubble is beyond a doubt...

Given these facts, any free-thinking individual must assent that the Global Bond Market is in a Bubble..

The key to this whole discussion about bonds being extraordinarily overvalued is the arrival of inflation on to the scene, which had been absent for a decade in the eyes of the consumer...
This has compelled many central banks to shift strategies from the pursuit of inflation,to one of inflation containment...
these money printers have no choice but to retreat from their inflation quest, or they now risk a rapid and destructive rise in long-term bond yields...

The Fed is trying to engineer a Soft Landing for the Bond Bubble it created, but no such condition is at all probable... no such condition of interest rate nirvana can ever be supplied by a central bank...

This "Soft Landing" relates to my own impression of "Controlled Demolition", especially considering that author says Fed itself created it! ("it created"). As evident from news last year, Greenspan was "predicting" this Bonds Bubble already then! Which kinda raises a question: was it actually PLANNED in advance?

(source)

So, now "Bonds Bubble" is current news trend; "Financial Crisis".

nations are racking up debt — which banks may not be able to recover

"Cashless Society" theme is also trending in News: "

A Cashless Society has Arrived — in China";
Bank of Canada asks: Is a cashless society problematic?
Can Crypto Ventures Cash in on Gov’t ‘Cashless’ Drives?";
Cashless-society banking requires local solutions;

An interesting find yesterday with conclusion:

reality would demand that at least one major world power adopt a specific cryptocurrency or multiple cryptocurrencies as its main form of currency, undergoing a transition process that would take years to decades...
Thanks to the challenges in place, it’s still going to be several years, if not a few decades, before we see the first major world power launch its own cryptocurrency. But there are countries that look poised to embrace the transition once it becomes feasible...

Although no straight answer given to which country will adopt Crypto first, It provides a good analysis of 5 main Obstacles towards that goal:

1. Consumer preparation;
2. Regulation and oversight;
3. Volatility and stability;
4. Scalability and longevity;
5. Privacy and traceability;

Therefore this article emphasizes word "transition" (used 5 times in the text). This corresponds to my own thoughts (in my previous blog post Re World Currency). However I doubt that any country at all will ever adopt any of presently available Cryptocurrencies. More likely this TRANSITION period (= not forbidding Crypto nor adopting it) is especially to prepare masses for "Crypto-Fiat"! In other words, Crypto-like digital versions of existing Fiat currencies.

So, all in all, the whole talk about Crypto Vs Fiat still doesn't produce clear answers, only some guesses and speculations. But I am still almost convinced that no any governments nor global elites will allow any Crypto to replace Fiat money. I'll certainly continue monitoring the developments on this matter and try to Update from time to time.

Please share your own thoughts and opinions, some interesting news on this topic in your comments below!
Also if you've found it interesting - please share, resteem, upvote! :)

Related

Here on SteemIt, RE "National Cryptos":

https://steemit.com/cryptocurrency/@tech-trends/china-is-set-to-launch-it-s-own-national-cryptocurrency-the-1st-in-the-world
https://steemit.com/cryptocurrency/@mod-tamichh/russia-to-launch-its-own-cryptocurrency-cryptorubble

About BTC & Crypto becoming Money:

https://steemit.com/bitcoin/@marketreport/are-cryptocurrencies-really-a-threat-to-the-us-dollar-by-gregory-mannarino
https://steemit.com/photography/@runrudy/will-bitcoin-pop-the-dollar-bubble-macro-and-high-speed-flash-photography
https://steemit.com/cryptocurrency/@cryptosuccess/embrace-early-stages-of-the-trillion-dollar-crypto-bubble
https://steemit.com/cryptofr/@vlemon/la-gazette-des-cryptos-15-decembre