{"id":46004,"date":"2021-07-13T14:42:05","date_gmt":"2021-07-13T11:42:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46004"},"modified":"2025-09-01T14:10:44","modified_gmt":"2025-09-01T11:10:44","slug":"kyle-bass-urges-us-to-ban-the-digital-yuan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kyle-bass-urges-us-to-ban-the-digital-yuan\/","title":{"rendered":"Kyle Bass Urges US to Ban the Digital Yuan"},"content":{"rendered":"<p>China plans to use <a href=\"https:\/\/u1f987.com\/en\/news\/how-chinas-digital-yuan-dcep-put-it-at-the-forefront-of-monetary-innovation\">DCEP<\/a> to spread its influence over rival countries, and therefore the United States should ban its use. This was stated by Hayman Capital Management founder Kyle Bass in an interview with The Epoch Times.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">&#8220;<a href=\\\"https:\/\/twitter.com\/hashtag\/China?src=hash&#038;ref_src=twsrc%5Etfw\\\">#China<\/a> is so good at\u2026exploiting every crack, every nook, every cranny of opportunity\u2026They take our openness &#038; they exploit it.&#8221;<\/p>\n<p>Tonight, <a href=\\\"https:\/\/twitter.com\/Jkylebass?ref_src=twsrc%5Etfw\\\">@Jkylebass<\/a> on the threat of <a href=\\\"https:\/\/twitter.com\/hashtag\/China?src=hash&#038;ref_src=twsrc%5Etfw\\\">#China<\/a>&#8216;s digital currency &#038; how the <a href=\\\"https:\/\/twitter.com\/hashtag\/CCP?src=hash&#038;ref_src=twsrc%5Etfw\\\">#CCP<\/a> could coerce nations to adopt it. <a href=\\\"https:\/\/twitter.com\/EpochTVus?ref_src=twsrc%5Etfw\\\">@EpochTVus<\/a><a href=\\\"https:\/\/t.co\/omGhxrNOAm\\\">https:\/\/t.co\/omGhxrNOAm<\/a><\/p>\n<p>\u2014 American Thought Leaders \ud83c\uddfa\ud83c\uddf8 with @JanJekielek (@AmThoughtLeader) <a href=\\\"https:\/\/twitter.com\/AmThoughtLeader\/status\/1413991195232153604?ref_src=twsrc%5Etfw\\\">July 10, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Imagine a currency that practically has its own mind\u2026 It knows the data of your account, your date of birth, your Social Security number, where you live and what you love to buy. All this knowledge will belong to the Communist Party of China. [\u2026] I think this is a digital Trojan horse,&#8221; Bass said.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>According to the billionaire, the digital yuan would not only inflict financial damage on the United States, but also enable China to seize a strong economic position and exert greater control over international markets. He compared this instrument to a cancerous tumor:<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;I believe we should ban [the Chinese digital] currency and not allow its circulation in the United States. I know this sounds hyperbolic, but just think \u2014 you can&#8217;t catch cancer. You either have it, or you don&#8217;t. In my opinion, we cannot allow American corporations and individuals to transact using the central bank digital currency.&#8221;<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>Bass noted that the government of the PRC is able to require companies to use the digital yuan if they wish to invest in the country. Participants in the Belt and Road Initiative <a href=\\\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9E%D0%B4%D0%B8%D0%BD_%D0%BF%D0%BE%D1%8F%D1%81_%D0%B8_%D0%BE%D0%B4%D0%B8%D0%BD_%D0%BF%D1%83%D1%82%D1%8C\\\">\u00ab\u041e\u0434\u0438\u043d \u043f\u043e\u044f\u0441 \u0438 \u043e\u0434\u0438\u043d \u043f\u0443\u0442\u044c\u00bb<\/a> may also be forced to settle in the national digital currency.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Imagine the crushing control they would gain over the world if they held all our capital in this way&#8221;, \u2014 Bass added.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>The billionaire is often outspoken against China and calls the country an enemy of the United States. Earlier this month, Bass, in an interview with <a href=\\\"https:\/\/www.cnbc.com\/2021\/07\/01\/hayman-capitals-kyle-bass-blasts-us-companies-for-cozying-up-to-china.html\\\">CNBC<\/a>, criticized American companies that advocate for social justice in the United States but overlook human rights abuses in the PRC, while continuing to cooperate with the state.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In July, China <a href=\"https:\/\/u1f987.com\/en\/news\/china-to-trial-digital-yuan-with-restricted-use-cases\">tested the digital yuan with limited use cases<\/a>. In theory, such an instrument allows for censoring transactions.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Subscribe to ForkLog News on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China plans to use DCEP to spread its influence to rival countries, so the United States should ban its use. This was stated by Hayman Capital Management founder Kyle Bass.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1138,26],"class_list":["post-46004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46004"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46004\/revisions"}],"predecessor-version":[{"id":46005,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46004\/revisions\/46005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}