Likely that Russia and China trust gold and silver more than they do each others fiat money
Indications are good, as both larger miners of BTC, has tolerated to leakage of capital by folks using BTC, and both can use an effective, inexpensive, and decentralised payment system
So, perhaps bullish, as the team China sent to Alaska rushed back to Beijing to meet Russia Russia Russia
The wet dream of course would be the simplest joint communique, titled "Joint Russia-China Undertaking on Gold-linked Bitcoins" where each Bitcoin is imbued w/ some claim of gold-silver at some fixed ratio, glued together w/ Casper tokens
Indubitably, gold-linked bitgold should be superior to gold-backed Yuan
What would BTC be worth on that announcement? :0)
BTW, China share of BTC production has been dropping, and at some juncture, just as in the case of many things including rare earths, China turns into net importer of BTCs
cbeci.org
BTW, unclear to me why folks were so fussed about Neo Mongol (Inner Mongolia) supposed shutting down some mines due to having missed their central-plan energy savings goal - they shall fix the issue and get back to mining in a hurry, capitalism style.
reuters.com
Russia's top diplomat starts China visit with call to reduce U.S. dollar use
FILE PHOTO: Russia's Foreign Minister Sergei Lavrov delivers a speech at the Afghan peace conference in Moscow, Russia March 18, 2021. Alexander Zemlianichenko/Pool via REUTERS
MOSCOW (Reuters) - Russian Foreign Minister Sergei Lavrov began a visit to China on Monday with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems to push back against what he called the West’s ideological agenda.
Lavrov, on a two-day visit to China, is expected to hold talks with his Chinese counterpart at a time when both countries’ ties with the administration of U.S. President Joe Biden are badly strained.
U.S. and Chinese officials on Friday concluded what Washington called “tough and direct” talks in Alaska, while Russia’s ambassador arrived back in Moscow on Sunday for consultations after Biden said he believed President Vladimir Putin was a killer.
Russia is also braced for a new round of U.S. sanctions over what Washington says was its meddling in the 2020 U.S. presidential election, which Moscow denies.
Speaking to Chinese media before the start of his visit, Lavrov said Moscow and Beijing were compelled to develop independently of Washington in order to thwart what he said were U.S. attempts to curb their technological development.
“We need to reduce sanctions risks by bolstering our technological independence, by switching to payments in our national currencies and global currencies that serve as an alternative to the dollar,” Lavrov said, according to a transcript of his interview released on Monday.
“We need to move away from using international payment systems controlled by the West.”
Ahead of his visit, a Chinese state newspaper, The Global Times, suggested Lavrov’s trip was a sign of how close China-Russia coordination would offset the impact of what it called “U.S. troublemaking.”
“The timing of Lavrov’s visit is noteworthy as it means Russia is the first country China shares information and opinions with on key issues after the China-US face-to-face communication,” it said.
Reporting by Gabrielle Tétrault-Farber and Andrew Osborn; Editing by |
