EPISODE · Feb 14, 2024 · 42 MIN
De-dollarization & CBDCs: How digital currencies help countries drop US dollar
from Geopolitical Economy Report · host Ben Norton
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
What this episode covers
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
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De-dollarization & CBDCs: How digital currencies help countries drop US dollar
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