PODCAST: China’s Currency Goes Digital

For years, many countries have been seeking ways to alleviate the pressure that they feel due to the reigning supremacy of the U.S. dollar. Now, China has emerged as a leader in blockchain technology by issuing a digital version of its own currency, the Yuan. Listen in as economist Jerry Robinson explains what it all means for the U.S. dollar — and for you.

• The U.S. dollar stands at 59% of global reserves as of December 2020
• The digital Yuan will not provide anonymity (unlike Bitcoin)
• Expiration dates for the programmable digital Yuan are being tested by Beijing
• China will be able to track every digital Yuan in real time
• China will control the volatility of the digital Yuan
• A digital currency is now being studied or developed by more than 60 countries
• Blockchain technology and digital currencies solve real world problems
• A digital Yuan could allow countries to sidestep sanctions from Washington

Christian financial advisor Mike Mitchell explains how retirees can position their assets to create tax-free income in retirement.

Jerry closes out today’s show with interesting and deeply thought-provoking words from an American novelist and social reformer.