No, US Banks Are Not Terrified of Chinese Payment Apps – #PropagandaWatch

06/05/201912 Comments

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Bloomberg would have us believe that the banksters are quaking in their boots over the possibility that Chinese-style payment apps and a truly cashless economy will be making its way to the West in the near future. But is this the banksters’ nightmare or their ultimate dream come true? Find out in this week’s edition of #PropagandaWatch.

SHOW NOTES:
U.S. Banks Are Terrified of Chinese Payment Apps – Bloomberg

Choke Point: How the Government Will Control the Cashless Economy

Tencent “About” page

Alibaba is the force behind hit Chinese Communist Party app: sources

Inside China’s High-Tech Dystopia

Banks TERRIFIED! Chinese Payment App Cuts Out Banks! (Jimmy Dore)

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  1. agntRnsck says:

    Hi,

    Cryptocurrencies avoid this type of automatic fine, as the government won’t have the private key.

    However, if government approved cryptos are introduced, and availed of by normies, where private keys are not held by citizens, this type of track-trace-database economy becomes possible. Consequently, ubiquitous facial recognition and fines for wrong-think and wrong-behaviour will follow. Probably a social rating system of some type will also follow, so a fine will be accompanied by a lower social rating.

    So, the degree to which we are enslaved will depend on whether government approved digital currencies being adopted or currencies where private keys are held by owners. Personally, and unfortunately, I think most people will go with the government approved currency.

  2. LibertyCat says:

    Do you know of Nathan Rich, in China, James? He’s an American ex-pat living there and has debunked a few of these recent “fake” articles on China. I found out about him when I was doing research on Xiajiang. The Trump Administration keeps threatening China about their treatment of Muslims and Uighurs in Xiajiang. It’s all propaganda, but they need an excuse for their trade war!
    Nathan’s website: http://nathanrich.online/
    Huawei vs Bloomberg: https://youtu.be/Ej9lweeNs4Y

  3. MaryD says:

    After watching the recent #PropagandaWatch “No, US Banks Are Not Terrified of Chinese Payment Apps “- June 5, 2019 I had a few thoughts and I would appreciate your take on them.
    With the social credit system that the ‘powers that shouldn’t be’ is attempting to roll out and their agenda of depopulation I wonder if they have considered if there will be enough people who will be able to spend their money or even be around to support all the big industries that they have created.
    Perhaps they might do well to remember the phrase “Never bite the hand that feeds you” that was supposedly used as early as 600 B.C. and since at least the 16th century. Even chicken farmers know that the more ‘happy’ hens you have the greater the financial gain.
    If you get things that you desire, there may be unforeseen and unpleasant consequences. ‘Be careful what you wish for, lest it come true.’ Maybe their future plans might not end up being the panacea they are looking for.

  4. HomeRemedySupply says:

    Excellent Reporting, Mr. Corbett!

    This particular #PropagandaWatch really stands out.

  5. HomeRemedySupply says:

    Do you handle a lot of cash?

    Especially if you have a business, but everyone should read Corbett’s article link “Choke Point: How the Government Will Control the Cashless Economy“.
    EXCERPT
    “…So if you are in one of these targeted “high-risk” industries or feel your industry might become one of them in the near future, there’s only one choice: Start getting off the banking grid now to whatever extent possible. Because you never know when the government is going to flip a switch and your bank account is going to be gone.”

    ~~
    About 2 years ago, I spoke with my banker (who knows about 9/11, Rockefeller, Rothchilds, etc) for about 3 hours.
    He was giving me the heads up about how banking has changed…
    https://www.corbettreport.com/new-study-chemotherapy-can-help-spread-cancer-cause-more-aggresive-tumors/#comment-40843

  6. mkey says:

    These stories about fines in China do seem a bit over the top. However, let’s imagine a similar situation in which one doesn’t even have a bank account. How could anyone automatically fine you? They could put a lien on you the first time you require some of “their” services. Like an issue of a “license” for something. OK, they could send armed killers to your address, that’s certainly less cool. But also a lot less cost-efficient than other options.

  7. manbearpig says:

    my idle breakfast-time remark on this propaganda watch:

    Reminded me of India…

    I could imagine an event staged in order to close the gap of the “digital divide” where smart phones were given out en masse to the poor in India (where somthing like 50% of the population doesn’t have a bank account either) and where a massive biometric harvesting data campaign recently took place. (along with the cash removal scheme that had forced many impacted poor to report to banks a couple years back)…

    Biometric payment apps going mainstream in the East, accelerating transactions and “forcing” global adoption ( so-called for competitivity and standardization reasons?)

    (While, of course, perfecting the scalability and speed of blockchain’s use in “banking” and “smart contracts”…?)

    or maybe I’m mixing apple jacks and orange juice here?

    now time for coffee…

  8. NES says:

    After reading the headline, when I stopped laughing, I had to ask myself exactly WHAT the banksters are up to now in using the Bloomberg mouthpiece? What path are they attempting to push the public down today?

    Figured it was, at the least, a run at increasing public investment in the Chinese companies mentioned by name.

  9. mkey says:

    On the subject of Jimmy Dore I just wanted to quickly add that I don’t think he’s able to do anything better but to parrot other authors. He bit the Climate Change thing hook, line and sinker; same goes for extreme socialism, Facebook as a public square, voting claptrap, supporting the two-party political system etc.

    Well, maybe he didn’t bite anything and he’s just a gatekeeper instead, but I doubt it. Best of his contributions are his finds on MSM, huge and small truth bombs. But lately, he’s mostly been toeing the line for this or that politician or politician wannabe.

  10. revan says:

    Money is printed paper in which we trust. A payment app is pixels on a screen in which we trust. Currency is in fact a large number of I-owe-you’s whatever form it has. Take notice that a lot of people do like to have something they can have in their hands, things they can touch, especially when it represents value. Look at Disney’s uncle Scrooge. He is litterally bathing in his wealth. Could it be the case that so few are rich because the poor can only see richness as a lot of valuable things you can see and touch. That is not a huge amount of stocks that physically not even exist.
    Now realise a currency in the form of money, coins and notes, is not simple to replace in a developped society as we have it. When a currency only works as software it is easy to replace and it will when the common used currency is no longer trusted.
    So when all the people get used to a money system where there is nothing to touch, to see, to keep. When it is only data, only pixels on a screen, they can change their currency at a whimp.

    • mkey says:

      I wouldn’t say replacing a digital currency is as easy as that. As people become invested in something they won’t so easilly let go. It would probably be easier to completely debase it than just outright replace the currency.

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