Kyle Bass: Digital Renminbi Is a Means for the CCP to Export Tyranny, and Is the Greatest Threat to the West in 50 Years!

Recently, Hayman Capital founder Kyle Bass said in an interview with the media that the CCP’s digital renminbi is a way to export authoritarianism. Kyle Bass said that during the Beijing Winter Olympics at the beginning of this year, one of the things the CCP did was to force participants to register and download applications that use digital renminbi and force them to use it as a payment system during their stay in Beijing. In his opinion, this marks the beginning of forcing the use of the digital yuan, and will be a way for the CCP to promote it. Kyle Bass predicted that the CCP was going to force the Chinese population to use it, while their goals in this global promotion of the digital yuan are multifaceted.

Approximately 87% of Communist China’s global transactions are settled in U.S. dollars. They are extremely lacking in energy, food, and basic materials. They need to purchase all over the world every day, but no one trusts the renminbi, and they are still using closed capital accounts. Therefore, they have to use U.S. dollars on hand to settle, so the first thing they want to do is to reduce their dependence on the U.S. dollar.

On the other hand, they are trying to export the CCP’s digital renminbi to everyone in developed countries in the East and West of the world. This means that it is not only a simple digital payment application. This is an application that can track your location, name, social security number, and all your identification information. It has the ability of geographic positioning, can provide a direct line from the Communist Chinese government to individuals, and can exceed the scope of authority of law enforcement departments beyond the scope of bank regulatory agencies or supervision.