 | Usually my focus is directed towards crypto, blockchain technology, AI and psychology in general. I hardly dare to "talk" openly about politics and I'm definitely far from having strong views. My intention is to share my worries with you on one particular issue, hoping that some of you would be willing to share your knowledge and experience with me. |
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INTRODUCTION
As some of you may have noticed, I've been quite absent lately and I didn't really plan to publish anything at the moment. However, I've recently read an article which got my full attention and made me seriously worry about my own country, Poland:
| "China is printing money for countries like Poland and Brazil at ‘full steam’ as it tries to expand its influence on the global economy" |  |
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Poland and Brazil are not the only countries affected by China, as they are also printing India, Nepal, Sri Lanka, Bangladesh and Malaysian currencies.
It's clear that the Chinese goverment's capabilities of printing many foreign currencies is possible and this raises several important questions and it create disturbing national security implications.
IMPORTANT QUESTIONS
What are the potential consequences for those countries to bring such a contract? How could this contract happen in the first place?
I always believed that each country would aim to be in charge of printing their own currency. Being in control of your own money seem to be a must. How could Poland and other countries allow China to have that much power over all those nations? Im also wondering if corruption in China isn't still a huge problem?
I can easily imagine the entire Polish market being flooded with those money, causing very high inflation and destabilizing the entire country. Other markets (Malaysian, Thailand etc) would be even easier to destabilize. I see plenty of threats but somehow I cannot see any potential benefits coming from this deal.
SHARE YOUR VIEW WITH ME
So please share your thoughts on this topic with me. Mostly help me understand how could Poland (and other countries) benefit from having such a deal with China. What are threats, pros and cons of this solution.
There are a number of questions Im trying to figure out and I would really love to hear from you. I promise to read every comment below.
Help me and support @IamChijamz
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Yours,
Piotr
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Hi @Piotr, are you a polish in Malaysia? Your name it look like that. We are a polish company running by italians, so we do not speak polish, but we are amazed about your article of printing polish money from China, this make me undersatnd of many thing and why here is paradise of chinese. You know how many shit they try to sell around the world, but in Italy for example, if you buy chinese shit and it stop to work before 15 days, you have the right to give it back and choice to get back your money or take another one, but here in Poland, NO! They take your part, even bought just an our ago, to maintenace centre, so if you need this piece of shit, you have to wait even another 15 days to get back it that may be can work for another week and than they take it another time to maitenance service till you decide to through it away, so what you wrote it make me understanding many thing now, thank you!
Thank you for your amazing reply @intellihandling
I've checked your profile and it's kind of hard to see your description. Example:
Perhaps you could think of different background picture. Just a suggestion.
Would you mind telling me if you guys have any website already? So I could learn more about your services?
Yours
Piotr
Dear @piotr, thank you for your kindly comment, you can see something more here: https://steemit.com/steemit/@intellihandling/making-an-ico-with-steemit-help-will-be-possible
I love to see how responsive you are @intellihandling
Your post has been published 6 month ago so Im sure many things have changed in meantime. How is your project doing currently?
Would you mind sending me short email to [email protected]? I would love to be able to keep in touch and support each other on Steemit.
I wish there would be more advanced notification system developed by steemit.
No pressure of course :)
Piotr
Hi Piotr, thank you for your kindly answer and i will send soon email to tell you about our project.
It is also a good idea to post weekly about your project. This keeps your followers growing and happy to see updates and help you raise funds for the future.
Tangential, but I laughed the first time I read this article. Made in Italy indeed!
http://www.chicagotribune.com/news/nationworld/chi-italy-china_spolarjan02-story.html
Dear my friend, i would like to read this article, but this is message i got after try to open the link:
Europe censors the internet... interesting
maybe you #brexit you also exit their internet?
Dear @dynamicrypto, it is sad to see it for me, i was thinking we are continent of freedom!
hi @dynamicrypto, @intellihandling
I wonder why would europe censor this kind of article?
Dear Piotr, so this was the article hided? This article is showing a typical chinese mafia behaviour and of course could be some italian bad man help them to find the place, but when our police discover that, is always trouble to understand who is organization, for us chineses seems all the same and when they are in trouble they do not speak at all and it is very hard to discover organization. But this article is very different from the post concept, here is something illegal, but in Poland chineses business are protected, Piotr am i wrong?
This is a matter of concern. China is given a contract by many countries to print their currency notes. Can China not flood those countries with fake notes?Definitely, yes.
hi @akdx
Thanks for sharing your view. It seem that we're both on the same page here.
Yours
Piotr
Hi @crypto.piotr. There are obvious risks to national security and currency sovereignty, however a cost benefit may show that the costs of outsourcing currency may be worth the risk. I know that here in Australia, we print currency for many of our Asia-Pacific neighbours. Security is tight, and quality excellent. different situation to the one you outline, many of these countries are poor, and very small, and outsourcing to a bigger, friendly neighbour makes sence.
The world is becoming more and more dependant on Chinese production of everything else, physical currency isn't much different. I am not hugely concerned, Paper currency (or Plastic in Australia's case) probably won't exist in 10 years so it's a short term industry in my opinion anyway, if they can do it cheaper, then why not.
I would like to believe that your government would put appropriate safeguards and security measures in place, and have a backup plan in case something goes wrong... Or is that expecting too much from politicians.
Thanks for this amazing reply. I totally appreciate your time and effort @jk6276
"outsourcing currency may be worth the risk"
You might be right. Somehow Im still feeling uneasy about this idea. To put that much trust in China? Could costs of manufacturing your own money be really worth it?
At the same time I wouldnt hestitate to trust country as transparent and following law as Australia. I think that's a major difference. Wouldn't you agree?
Thanks again for your comment
Yours
Piotr
I agree to a point @crypto.piotr. There are many other commodities that are dominated by Chinese manufacturers. Is there any less risk in outsourcing them than printing of paper currency. Many nations are well down the path of dependence on China (Australia is most definitely one of them).
Is it preferable to bring China into further engagement and trade or to restrict and sideline a very strong, ambitious nation.
Specifically related to paper money, banks and financial institutions can create vastly more money than printing presses, so in this day and age, is the sovereignty risk actually that significant.
As for Australia, it would be completely unsurprising if we sold our currency production assets to a Chinese company anyway. A large amount of our property and businesses have already been sold out.
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Thank you again for your reply @jk6276.
Appreciate.
hi again @jk6276
Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0.5 STEEM. Not much but always something :)
Yours
Piotr
I really appreciate the gesture. Your topics @crypto.piotr are always thought provoking and I appreciate that you find value in my contributions.
Have a great day.
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I really really do. I've managed to get to know a number of valuable people here on Steemit and learning from you guys is currently my main reason why Im on this platform :)
Printing money for other countriesn does not seem cool but it will be most important to see how these countries and their various markets react to this.
Hello @crypto.piotr , I'm not much of an account person but I also know that the minting of currency is done in accordance with world bank agreement and specifications. Therefore, if China is printing currency for Brazil anad Poland, it's has be in accordance with a prescribed economic rule that requires serious guidelines. The world Bank takes these regulations very serious to avoid impending inflation. Cases like Venezuela will be a lesson to everyone. Thanks for the active topic though.
for whatever reason, sovereignty should not be shared
hi @kabasakal
Thanks for sharing your view. It seem that we're both on the same page here.
Yours
Piotr
I am not surprised if China is doing that and I do not think it their fault. I blame those taking such sensitive contracts to them.
always remember, chinese products are not longer lasting.
Thanks @crypto.piotr for the support, contact me @rigmelendez3 and leave me your memo about "China printed foreign currencies", I am not an economist but like many people we are interested in this type of news, I personally think that the markets are going towards the world of the cryptocurrencies, that would be a good way out, for many countries to develop their own crypto, so they would not depend on other countries to print their currencies, and the paper money would be reduced. It is my humble opinion on the subject.
I await your opinion regarding my answer. Thank you.
Hi @rigmelendez3
I've noticed that you resteemed my post. Big THX. Appreciate it.
Thanks for sharing your view. It seem that we're both on the same page here.
Yours
Piotr
Thanks, we're right on the same pages.
I believe China is just doing this so they can get more influence and popularity around the world because everyone knows china has a bad government infrastructure. And if china is popular no one will mind do much if they have a bad government.
hi @mattdhertog
Thank you for your kind comment and for sharing your view with me.
Appreciate it a lot.
Yours
Piotr
No problem
Me imagino que si los países implementan estas medidas para la producción de su papel moneda, es para la reducción de costos ,por que para todos es bien sabido que si algo es producido en la gran potencia de china , sera mas económico por su alta producción ,ese seria el objetivo de estos países que quieran imprimir su moneda en china pero el contra que le veo es que muchos países por querer ahorrarse dinero cada día mas y mas deciden mandar a hacer todo a los países asiáticos sin darse cuenta que contribuyen al desarrollo de monopolizador el mercado chino dándole gran poder en todo el mundo lo cual es un gran error ya que lo países deberían buscar la autosuficiencia y el desarrollo de sus propias tecnologías para la producción ,claro que al principio seria algo muy costoso invertir en este desarrollo pero a largo plazo genera un bien ,un capital auto suficiente y económico.
No es bueno confiarse en otros países aun así si eso les reduzca costo en el proyecto deseado a realizar por que en cualquier momento no se sabe que pueda pasar y la nación quede indefensa por no tener una propia economía auto suficiente.
Alabado sea Dios#venezuela
hi @lezamad
Thx for your comment. But Im not sure how many of us can read spanish :(
I imagine that if the countries implement these measures for the production of their paper currency, it is for the reduction of costs, because for all it is well known that if something is produced in the great power of China, it will be more economical because of its high production , that would be the objective of these countries that want to print their currency in China but the counter that I see is that many countries want to save money every day more and more decide to send everything to Asian countries without realizing that they contribute to the development monopolizing the Chinese market giving it great power around the world which is a big mistake since countries should seek self-sufficiency and the development of their own technologies for production, clear that at first it would be very expensive to invest in this development but in the long term it generates a good, a self sufficient and economic capital.
It is not good to trust other countries even if it reduces the cost in the desired project to be carried out because at any moment you do not know what can happen and the nation is defenseless because it does not have its own self-sufficient economy.
Praise be to God # venezuela
translated by google translator
Thank you @lezamad for your translation and your great comment.
I really appreciate.
Yours,
Piotr
Venezuela saldrá de esta desgracia amen
De acuerdo con tu opinión... los países deben buscar su autosuficiencia y no otra cosa. Por ahora me queda una interrogante: ¿Estará ocurriendo esto en Venezuela?
Hmm, I think it could be a double edged sword effect, @crypto.piotr There are surely some pros and cons for this action!
I'm so glad to see your comment @wilhb81 :)
Im trying to find pro's and im simply failing ...
It is good to see you back crypto.piotr, were you able to solve the problems with the government?
Regarding the particular topic of this post, I obviously don't think this is a good idea.
It seems like a reduction in their sovereignty and it seems absurd.
Is there an official explanation about why is this happening?
Hi @dedicatedguy
We're clearly on the same page here.
I was trying to find any explanation or any "pros" of this solution and I failed so far.
Yours
Piotr
Good afternoon. I liked your publication. Thank you
Thank you for stopping by @yuriy4 :)
Yours,
Piotr
The answer is to buy Gold and Bitcoin/Crpyto :P
hi @sames
Well, your answer didn't satisfy my curiosity :)
Cheers
Piotr
( You get this comment only about once every 3 resteems - if bothered reply OFF )
Your post got resteemed and upvoted. Thanks for being a subscriber of my service! ...
Lol Trumps hypocrisy
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Not sure how that guy is involved in this one bud.
Hi @ecoinstant
It seem that some people blame him for everything
I have to agree with eco-instant here.
Personally, I think Trump is a complete ass, not to mention lacking any morals, ethics or brainpower, but he just doesn't figure into this equation.
Fully agree with you
You got a 9.26% upvote from @postpromoter courtesy of @crypto.piotr!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This is very interesting question! I do think I have some insight, but many of your concerns will probably remain when I am finished!
The benefits are basically economic. The nation state system as it is currently set up, requires enormous sums of expenditures to put on the 'trappings of state' that come with being a recognized country. Things like having embassies in other countries and staffing them can cost millions of dollars - per other country!
In this case, printing currency is not something you can do with an inkjet printer. The realities of currency in a modern age is that it requires extremely expensive infrastructure to integrate ever changing standards of security into the bills. (decentralized currencies anyone?)
China is engaging in a tactic that is very common in other industries, something called economies of scale. They have invested in the best infrastructure around, as well as maintenance and perhaps R&D, and now they want to max their capacity to maximize the investment. They do this by filling orders from other countries.
A country like Poland or Malaysia might be able to get state of the art counterfeit protected bills for a fraction of the cost, forgoing huge infrastructure, training, labor and maintenance costs that come with local production.
I hope this helps a little bit. And I understand if you still have the same concerns as you did when we started! Likely a contract has been signed and if there is evidence of additional printing or other manipulation, a country like Poland would put a claim on China before the ICJ.
Thanks for this amazing reply. I totally appreciate your time and effort @ecoinstant
I was always wondering if embassies actually cost that much. I've been travelling around the world for some time and I visited number of embassies and they all seem to be collecting huge amount of money from civilians. Everything cost. A lot.
Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.
Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 1 STEEM. Not much but always something :)
Yours
Piotr
Actually I'm pretty sure a British company Thomas de la Rue prints a lot of the banknotes in circulation in a lot of countries, shouldn't we be worried about the UK having that kind of influence? I'm from Honduras I'm pretty sure our banknotes were made by Thomas de la Rue, I'm not sure if they still are.
hi @gduran
Thank you for your kind comment.
The thing is that UK and China have very different value. Being transparent and fair in business/politics is definetly BIG no in China.
ps. Ive never met anyone from Honduras. I've watched number of documentaries lately about your country and some of them were breaking my heart.
All the best to you @gduran
Yours
Piotr
Bulgarian lev is being printed in some offshore zones worldwide. It is just a business.
I do tolerate that, first because for me it means kind of Decentralization ( Outsourcing ), second it makes me think we really live in a global world, third actually I dont care that much. We live in the world of blockchain, and the governments are way back in time.Soon nobody is going to use Fiat so it is not a big matter!
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hi @yanipetkov
Big thx for sharing your opinion with me.
The best reason ever hahaha
Yours
Piotr
The influence of China in the world economy is in continuous growth which can represent a loss of economic independence of the nations to which it offers this type of financial service as the one to print its paper money. Interesting article dear friend @crypto.piotr
hi @yanipetkov
Big thx for sharing your opinion with me.
Just checked your profile just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
big fat upvote on the way! :)
I will follow you closely :)
Take care, Piotr
Hello friend, good to have you back, I understand your concern but most countries print their paper money abroad, print paper money is a business and as all business involves investment and dedication, for most countries it is not profitable they are investing in a house of the currency that keeps its equipment and methods of printing of updated, since to these every day they add them more security systems of last technology so that forgers do not have it easy.
These types of contracts are quite strict in terms of the number of printed tickets, for that is the digits printed on the money, the country makes the print order and there can not be a number of repeated printing code or a number outside of the order that the country (client), if they were to print more than what was established, would have legal problems and it is very important for these companies, to have an unblemished reputation, in this way they can get more contracts from other countries to print their money
Greetings, I hope you are very well.
hi @hendersonp
It's great to "be back". Im still running around and next few weeks will be very busy (private issues) but ... Im kind of back :)
Thanks for sharing your view with me on that particular topic.
ps. I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)
Yours
Piotr
i read later
hope to hear your view on that topic @amritmahal
cheers :) Piotr
Hi @crypto.piotr.
I think that the low price of raw materials in China and the low wages of labor forces a number of countries to form this type of contract.
I do not think that the local market of these countries will be flooded with money to the point of financial inflation because there must be an item in these contracts that links the amount of printing money with the amount of gold available in these countries.
hi @nabil.nassiri
Thank you for resteeming my post and your kind comment. I appreciate it a lot.
ps. how's life in Moroco those days?
Yours
Piotr
In our region, there are storms, and for the public servant life we are in a repetitive routine.
This is of a great threat to the countries involve. How can another country print your currency. What if the country decide to be a smart one on them by exposing they hidden treasure. Men make i gum my onu abeg.
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thank you for your kind comment @lapb
Just checked your profile just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
I will follow you closely.
Cheers
Piotr
For what ever deliberate wrong in any country, you blame the government, for whatever bad government in a country, you blame the electorate.
If you cannot return a bad commodity to a foreign company in a country or even indigenous company, those in public offices are proffiting from every sales and when there are alot of returns, there would be less profits for the company and those corrupt public office holders.
So, in the coming election even if its four years time, that time might be the time to right most of the wrongs
hi @unclefz
Thank you for your amazing comment.
Yours
Piotr
The entire Fiat regime can be easily manipulate regardless. Other than the dotted line and base coating on paper money, it has absolutely no protection and can easily be fabricated. Take Venezuela as example, the processes of printing money are more expensive than the money itself! Hence, crypto is the only way to go.
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Thank you for your comment @davidke20 and sorry for such a late reply.
This HF20 implemented lately is killing me. I delegated almost all my Steem power and now I can hardly post anything :/
Venezuela is indeed great example
Cheers
Piotr
The question you raise implies a threat to countries from China. This would be correct even if Chinese were not printing currency notes- legally by contract or otherwise.
Second point- What do you think a country like Malaysia or India can do?
China's economy and military might has grown to outstrip all- even the USA.
But all's not doom and gloom. Money itself is evolving. So in the near future we may see solutions to this problem which have not been thought of. And Of course! Any independent nation would wish for maximum sovereignty over their economy and therefore contribute to finding solutions. I don't know how this will pan out but a good guess is that Cryptocurrency will have a big role to play.
Thank you for such an amazing comment @sarez and for sharing your view with me.
They may simply not sign a contract the way they did. I think....
Yours
Piotr
Sorry for not responding till now, I read your previous comment also. NO RCs. Well Govts function like slow arthritic elephants. May be in a year or 2 they will decide they need to oppose current policy.
The practice of printing notes by a different country was not uncommon earlier, especially in developing countries. The assumption was that a developed economy with better printing technology was well placed to print notes which cannot be easily copied. That assumption still holds good but when it comes to China, the equation changes a bit.
At the moment they are into a lot of unnecessary muscle flexing and in such a circumstance to trust them becomes a bit of an issue. It is difficult to predict those guys. So, yeah, a problem for sure. What is a bother is that India and Malaysia too have trusted China with the job! Counterfeit comes to India through Pakistan and Nepal border and now with China printing, we may have legitimate counterfeit coming in... How's that for an irony! :)
Thanks for this amazing reply. I totally appreciate your time and effort @oivas
I seriously didn't know that.
You're completly right mentioning that trusting them in current stage is a bit of an issue. At least that's how I see it.
Again thx for sharing your view.
ps. to show my appreciation I've transferred you 0.5 steem just now. It's not much. But always something :) (my voting power is to small to really give you solid upvote)
Yours
Piotr
very good topic for discussion, apologize if I leave the subject a bit. nowadays it is a question of the fact that most of the countries in which money can not be maintained are only based on an internal GDP accounting that has false sustainability (one of them being the United States which has no real support to maintain its currency afloat), the printing of currency can be given by countries to other countries or by a country to indundate with worthless bills and that can create an inflation, there are also currencies like the dollar that is maintained by the traffic of all types of materials because this currency is used worldwide for that reason does not fall into a tailspin, there are also currencies that are maintained by money laundering and falsification of them (here could name Colombia whitening pesos and dollars for the financing of drug trafficking and the falsification of dollars for the flooding of a market) could last a whole day talking about this interesting topic but it would end up being annoying for others
hi @freddysolano
Thank you for your kind comment and for sharing your view with me.
Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.
Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)
Appreciate it a lot.
Yours
Piotr
Hi @crypto.piotr,
I understand your concerns but I don't believe that there is any other reason beside cheaper printing. Your country is losing some jobs because of that but not too much, USA has around 2000 people in printing industry so Poland has probably less. I don't see how China can benefit out of this printing beside jobs that they get and also knowing how much money Poland is printing. Poland could also have some printing money by themselves or some other printing contracts so data that China has means nothing. Point is that all countries are printing money so invest in BTC to preserve money valuation...
hi @cicbar
I agree, that reason is definetly noble and sensible. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.
I've lost you here.
ps. Since my voting power is quite low and upvoting your comment wouldnt benefit you much, I decided to transfer 0,5 steem to you as a token of appreciation.
Cheers,
Piotr
My point about investing BTC was that it really doesn't matter where countries printing money. Wherever they print that is very bad and it is devaluing currency so your wealth is becoming lower without doing anything. Since USA left gold standard, all countries start printing money like crazy and FIAT currencies are losing value very quickly. GOLD and BTC are only tools that can help you to protect your wealth in my opinion.
A number of countries have outsourced the printing of their currency to China because of lower costs, etc. Of course there are security concerns. It would be in the interests of these countries to ensure due diligence is exercised. If China could not be trusted, then the best and only solution is that to stop immediately.
hi @msooi
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
Printing another country's currency is an obvious threat country should take the precaution measure. If it happens then country will loose control over their own currency and which might have negative impact on their economy and loosing control over own economy is surely a matter of worry.
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hi @alokkumar121
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
Thanks much for appreciation buddy. I understand that due to HF20 we were stopped to do anything.
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I sincerely disagree. Why must China print other countries currency, that's a room for corruption I must say.
Here in Nigeria, we print ours and by so doing we have full potential and control over the use of our money.
Sorry to say, what if China stops printing Poland's money for a while due to any challenges or disagreement, what will become of Poland or the other countries involved.
hi @lilkeszi
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
It's my pleasure to hear from you ☺, this Hf of a thing is really not okey sha. I'll love to speak to you in person, I'm planning to run some things here on steemit. Could you do me a favour?, drop me a link or so in which I can contact you please
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Hello @crypto.piotr In a way I thank you for reaching out. I am not aware of this until now. China's 'plan for a better world' (Belt and Road, putting up Military bases inside Philippine Territory, to name a few) is made right and looked right. They justify it with reasons leading to more questions and thus one is left with nothing but to agree, take no side or to question again.
Well, anyway I found this very appalling, them printing money for other countries. But isn't this in a way inevitable? I mean, almost all products are made in China nowadays. It's only a matter of time that they printing other countries money. I wonder what is next!! :(
Plus Check out this link if it helps.
https://www.scmp.com/news/china/society/article/2158782/why-other-countries-are-giving-china-licence-print-money
hi @keket
Im glad that you visited my post and shared your knowledge with us. Appreciate it.
Very true.
I live in south-east asia for many years and it seem that most cheap production is moving out from china already. Mostly to Vietnam. China is simply becoming to expensive.
Thank you for that link.
ps. Since my voting power is quite low and upvoting your comment wouldnt benefit you much, I decided to transfer 0,5 steem to you as a token of appreciation.
Yours
Piotr
Honestly it was interesting for me since China has been bullying the Philippines for many years now. It got me wondering what else are they up to nowadays. Mmmm. I see they've been busy!
I do hope someone will do something about this and so that it will not spread.
China is indeed a "Sleeping Giant" waking up...
I thank you for the transfers. You made them twice I hope it was not a mistake. Do tell.
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I didnt know that china has been bullying the Philippines.
Could you please tell me more about it @keket?
I guess accidently I wanted to show my appreciation to you twice :)
Yours
Piotr
Thanks to support me @princeuk12 and do follow you
Well @crypto.piotr, printing money costs at least 7 cents (for the new euro banknote) i bet china can do it for a fraction. Running their slavery business is not sustainable at zero interest rates so they need to find a way to cut costs.
Funny how all the newspapers are trying to convince us that fiat money is the only real and save money. It's becoming more and more a sad joke.
Hope the common people start realizing this soon.
hi @exator
Im sorry for such a late reply.
Most of all: thank you for your kind comment.
I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
Hii @crypto.piotr , I hope you are doing great. Well I rarely speaks on something related to politics but I think it's something important topic to speak on and I have a reason too.
So, printing currencies is becoming very costly day by day and many countries can't afford it. But the Chinese government are printing it in a very reasonable price so most of the country's take help from the China. Although China is a very reputed country so it's nothing to worry about. But if something happened then our own country's government will responsible for it.
It's nothing to worry about:)
Have a great day and wonderful night 😊😊
Wow. How do you know all that stuff @freecrypto. In your age to have that knowledge - amazing.
Cheers
Piotr
Thanks for the compliment, just trying to upgrade myself daily:)
hi @freecrypto
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)
Cheers,
Piotr
Hii @crypto.piotr
I'm glad to hear that there are still some people left on steemit, who's trying to help the community :)
I know 0.5 is not much but it's enough for my 5 lines comment 😊😊.
I'm waiting for your next tasks or project, please bring it soon :)
Have a great day and wonderful night 😊😊
Great to have you back my friend. I have been absent also the past month, but keep coming back and reading silently all the posts. I actually didnt know about it that china is printing money, which is not their own country. Quite surprising. I agree with your opinion, that this could lead to high inflation rates as well as destabilization. Definetely a thing to keep an eye on...
hi @bumshak
It's great to be back :) What keep you busy lately? work?
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
Yeah, I couldn't do anything also shortly after HF20. Also lost all my voting power, which needed to be regenerated for almost 5 days now. Work currently keeps me busy. New job is quite fun and I got super nice collegues, but still when going back home from work I'm super tired and don't want to do anything except for taking a shower and then going to bed. I hope that I will find some time on the weekends to be active on Steem.
Thanks, @crypto.piotr. My friend.
It has been long
Nice post
It seem nepal has been printing money from another before granting it to china the contract in 2015 and even Nepal excecutive director of Rastra Bank said;
“Bhuban Kadel, executive director of Nepal Rastra Bank, said the printing cost in China was lower, telling Chinese media outlet Xinhua: “The quality is as good as the ones printed earlier in another country but the cost is less than half of the amount we had earlier paid.He said printing notes in China saved the Nepalese central bank $5.17 million."
Today, notes from Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil, and Poland are also being produced for foreign clients.
https://www.google.com.ng/url?sa=t&source=web&rct=j&url=https://amp.news.com.au/finance/economy/world-economy/china-is-printing-foreign-currencies-on-a-massive-scale-according-to-a-new-report/news-story/7d0a98d20f74698e0ac678d50cf7bcb1&ved=2ahUKEwjC9J_l4NDdAhWlDsAKHQrrDkIQFjABegQICBAB&usg=AOvVaw08J7hRCAzTFXbAQU8jcQs8&cf=1
I think the consequences is that the host country will be dominated by china and also overdependent.
I also read in another place that it also link to the Belt and Road Initiative plan.
Thanks for this amazing reply. I totally appreciate your time and effort @oclinton
Great explanation. Make sense. Somehow Im still feeling uneasy about idea of China printing other countries currencies. It does encourage coruption. Which is a huge problem in China already.
Again thx for sharing your view and adding those links. Will check them out soon :)
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0,5 STEEM. Not much but always something :)
Yours
Piotr
Thanks my friend.
No creo que ningún país se comprometería a dejar a otro estado la producción de su dinero nacional sino hubiera suficientes garantías internacionales y supranacionales.
No obstante sin todas estas variables plantadas y mantenidas en el tiempo, los que manejan el mundo no tendrían manera de crear crisis que satisfaga sus planes.
There is a lot wrong with this notion of a country giving there own financial power to another country.
But i want you to understand something, which is, this things didn't just start now, it starts with small contract signed, and gradually the power of the less nation starts getting lesser while the big man(China) wield more hands, till it gets to the point where you have no power anymore.
Secondly, this is majorly caused by Hihh rate of corruption in a country, leaving the government to have no choice but to give such a right to another country to eliminate political money laundering.
And yes, china is safe to a point in printing money.
This comment was made from https://ulogs.org
hi @botefarm
Im sorry for such a late reply.
Most of all: thank you for your kind comment.
I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
China always has an end game and I don’t trust them. Just hope they don’t takeover the economies.
hi @fredkese
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
I've noticed that we seem to share a number of interests :) In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
I will follow you closely.
Yours
Piotr
owen wilson voice "wow just wow" i think it is clearly a security risk and financial risk if china prints too much of a countries currency and just start curculating it that currencies value will decrease dramatically impacting millions of lives and companies and i think my countries currency is also printed somewhere else
hi @khussan
Im sorry for such a late reply.
Most of all: thank you for your kind comment and for resteeming my post.
I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr
yeah hf20 made it really hard for a lot of people
All currency not backed up by gold,silver or something of tangible value is worthless in whatever country you live in!!!
Here in America our money is a joke
We should all print our own personal money. Has the same value
When I was a young man
I could go to any back and exchange a 20 dollar bill for 20 dollars worth of gold
Today's banks don't know what gold looks like.
I think it's mostly just numbers on a screen
And the fake bills and coinage don't matter as much in today's world
No matter who prints them!!
Posted using Partiko Android
hi @benfreed
Thank you for your kind comment and for sharing your view with me.
Appreciate it a lot.
Yours
Piotr
outsourcing like this makes it likely those countries will see incremental inflation, a great reason to buy cryptocurrency instead of fiat. it's funny to see china taking America by the balls like this however, it is as mentioned in the business insider article you link a sort of symbolic blow to US sovereignty. global superpowers are shifting, an exciting time to witness
hi @andy94
Thank you for your kind comment. I couldn't reply earlier because of HF20. Just wanted to let you know that I had a chance to read your feedback and that I appreciate that you shared your opinion with me.
Yours
Piotr