(See at 8:40 “slave component and liability to an asset
17:45 “Debt based [Federal Reserve Note] to debt-free money [CBDC] another slave component of digital currency)
Death of private banks vs. Central Banks is like the death of “mom and pop” shops vs. Sam’s Club and Walmart.
CDBC after the death of the dollar. the central bank will own all the assets (QE Balance Sheet) and everybody’s money. (19:00)
China in this Bretton Woods Moment is best positioned to move into the dominant position because of its ownership of dollars and other US Bonds and thus having the highest Trade Surplus (i.e., exports). Consequently, creating its CBDC will make it one of the biggest “financial slave masters” in the world (19:13-20:40)