China announced a ban on mainland trading of bitcoin, and the value of bitcoin instantly plunged by 30%.
At the same time, China also took a swipe at Musk’s Tesla electric car. While these two events may seem unrelated on the surface, a discerning eye can see that there is something inside.
Musk is a big supporter of Bitcoin, and at one point announced that Tesla cars could be bought and traded in Bitcoin. Tesla is setting up a factory on the mainland, and the Chinese side wants Musk to hand over the technology, and Musk will not give in. In addition to the flaming refusal to “share” the technology, mainlanders can also buy bitcoin in Hong Kong and use it to trade with Tesla in Hong Kong. A tycoon can celebrate the birthday of his second wife in Shanghai’s Lilac Garden – and on her birthday, open the door to a foreign car sales representative from Tesla, wearing a pair of white gloves and respectfully handing her a car key.
Such a blatant financial seizure of power, how can this be? So it’s a war of money that will kill you and kill me.
The British historian Ferguson’s famous book “The Cash Nexus”, which examines the politics of money power from the 1700s to modern times, points out that when the capital market becomes too free, money itself becomes a supreme hegemony. The conflict between money and power is defined by a quadrilateral: one, the government must tax, and so there is a bureaucracy that depends on taxes for its livelihood. Second, an elected parliament decides how much taxation should be levied. However, taxation must not be able to cope with the ever-increasing social welfare spending, so thirdly, there is a national debt system, where the government issues bonds. Finally, fourth, there is a central bank to manage the debt.
For three hundred years this quadrilateral of gold power has been intact, although it has sometimes been hit by the stock bubble. Until Bitcoin came out and this quadrilateral framework broke down. A group of mysterious visitors, supposedly from beyond the sky, told you there was a batch of metal called bitcoin that you hadn’t seen and didn’t have to see, and when Wall Street investment banks also participated in subscribing, and then Musk also approved, the false became real when the false became real.
This group of monsters must also see the world’s largest market of so-called 1.3 billion people. However, they forget that this market is monopolized by the Communist Party. Renminbi is the bitcoin formed during the Deng Xiaoping era. Bitcoin forms its own imperialism, and when the White House and the Federal Reserve are also somewhat helpless, the only way to do it is by China.
Musk thought he was deep in the tiger’s den and that the electric car could be full. But he is an American, China but there are hundreds of millions of a command to progress pin field to jump on an electric car top ape-like jump, roar and shout accusations of the U.S. Empire’s low-end consumer mob.
Mao Zedong said: There is no love without a reason in the world, and there is no hate without a reason. Any international economic and trade dispute involving the Far East is bound to have a deep causal logic that the white world will never understand.
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