On Jan. 2, Bitcoin crossed over $1000 as the Chinese continue to rush into the crypto-currency as a means of bypassing capital controls on currency leaving the country. And in an interesting and growing trend emerging from the second largest economy in the world, a new web bot forecast has the Chinese government actually capitulating to the power of Bitcoin and promoting its use within their borders, and along the newly emerging Silk Road.
Cliff High (Web bots): The new prediction sets we have are showing us swapping over to RMB as China takes over the emotional control if you will of the Bitcoin world, and alot of their rushing into that is fear of the currencies.
Greg Hunter (USA Watchdog): They are fearful of the U.S. dollar?
CH: Nope, the Chinese people... the China Pop (population)... and the China Pop is going to get really freaked out about the value of their own currency, and there is going to be more of a tendency and a rush into Bitcoin.
Now at some point this year, China's official authorities are going to just give into that, and there's going to be a change to their official approach to this whole thing.
GH: And they're going to say go ahead and use Bitcoin.
CH: Boy if you read out report you are going to be staggerd... it's going to be more than that. China is going to rush out, because of the way they do things... the Chinese authorities know their existence, their very lives depend on the health, wealth, and happiness of the people below them, and so someone is going to come up with an idea to extend digital currency... Bitcoin, and we have the language there, even to people who trade goats now.
And the idea is, China, along with their Silk Road train from Beijing to Berlin, is going to extend out fiber optics and bring in over a billion people into the internet in the shortest possible time. And at the same time they're going to spread out the Bitcoin ethos through there. - USA WatchdogIn addition to Bitcoin expansion within their borders and all along the Silk Road, China is progressing rapidly towards becoming the world's largest gold market, that will now include jewelry in their platform.
Status as one of the world’s biggest bullion importers, participation in the gold fix at the London exchange and a plan to establish a jewelry gold investment center in Shanghai has turned China into one of the leading players in the global gold market in 2016. - Sputnik NewsAs currencies and bonds around the world teeter on the precipice of another crash or outright collapse, the future of finance is rushing away from these fiat forms of currency and returning to an era of sound money. And with supplies of gold and silver being quickly gobbled up by consumers all throughout the Far East, the trends are signalling very strongly that right now is beyond the time in which individuals can get their metals and Bitcoin to be prepared for the coming paradigm shift.