Comments by "LoC28C" (@LoC28C) on "Why China's New Digital Currency Raises Privacy Concerns | WSJ" video.

Why is it OK for Visa and MasterCard to know exactly where, when and how the whole world spend their money but not the Central Bank of a country ? Why is it OK for Google to know everything you say, do, see and plan and share it with the US Government whilst they can baselessly accuse Chinese Companies of spying on you when it has been proven countless times that they can’t ? This just make no sense ! ! !
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@blankneverlosegaming6374 Actually the US Government is the biggest and most elaborate spy in the world. They can track all telephone conversations, all text messages, emails and video calls around the world. Just that if your country uses the Huawei Network equipment for 5G they US Government will no longer have access to your conversation and communication provided that both you and the other person you are communicating with are both on the same network.
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@blankneverlosegaming6374 it doesn’t matter because the USA Government already can track all your transactions around the world even today. The US Government already control all monetary transactions around the world for decades already. They know who pays who how much and when. They just don’t know why so easily only. The US Government also keep track of our telephone conversations, emails, text messages and so on as well.
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@Vativ well even with the Digital RMB you still have a choice of using cash or AliPay, WeChatPay, Visa, MasterCard, JCB, Diners Club or American Express too. So what’s the difference ?
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@Vativ even when you use Visa or MasterCard the US Government can keep track of all your transactions whether you are a US citizen or not. At the moment when you do a bank transfer of money the US Government has a right to keep track of your transfer no matter which country you do your bank transfer in, or whether the money will ever pass through the US banking system or not. On top of that the US Government can currently stop your transaction if it is not to their liking. Do you know that since the USA has placed sanctions against the Hong Kong Legislators, all their money in their banks has been frozen? They have to receive their salaries in physical cash notes and can only pay their bills using physical cash, not even via Visa or MasterCard ? That is the long arm of the USA laws around the world.
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@blankneverlosegaming6374 so you are saying Visa and MasterCard can’t track every single transaction right ? So in the same breath the Chinese Central bank cannot track every single transaction too then because really the data is just too much.
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@blankneverlosegaming6374 kindly explain what are you trying to say then.
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@blankneverlosegaming6374 you see any economist would tell you that you do not need to track every penny to make informed decisions. All you need to know are the overview picture of where the money is and you will be able to make an informed decision. Isn’t that so ?
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