Sijin Chen who received a degree of Advanced Finance and a master degree of computer science from New York University and The City University of New York respectively, was the developer on advanced finance software at Bankers Trust and NASDAQ, also the assistant VP in the department of security and investment at Credit Suisse, Vice president of BofA Securities. He is currently living in Toronto, Canada and working in risk management department of Royal Bank of Canada as the senior consultant. At the same time, Sijin Chen also consult for “Wall Street”, a major documentary of CCTV, and he is a contracted writer of *Audience Original*, also a long-term contributor to *Beijing Youth Daily*, *Modern Weekly*, *Oriental Morning Post*, *Wealth Management Monday*, *Financial World*,*Overseas Digest*, *How to behave and handle relationships*, *Global Weekly*, *Hong Kong Economic Journal- North America Edition*, *The China Press* and some other domestic and overseas Chinese newspapers. He is the author of *Whom does finance make wealthy*, *How to make a living in the North America*, *Survive the Wall street alone* and so on.
On 19 Sept, Sijin Chen mentioned in his Weibo account: “The Director-general of the Central Bank made it clear that digital currency is not able to exchange with gold and foreign currency”. And this has caused an uproar in the public, and many felt anxious about the digital currency the Central Bank is about to carry out. And this post was found deleted on 13 Sept.
Since the post on 19 Sept, Sijin Chen made a further explanation on Weibo about the fiat-money in China is the RMB. And China has never promised unconditional convertibility against any goods and materials (include gold). Hence RMB can never exchange freely with Gold and US dollar under no condition. But the digital currency of RMB is in fact a digitalised and electricized RMB.
Master Chen, I think you made a mistake. Who else will accept RMB for international trade settlement if RMB cannot be exchanged for US dollars and gold or other materials unconditionally? Chinese Communist Party has defrauded countries like Russia, Iran, Pakistan etc. to accept RMB for payment. In the meanwhile, CCP keeps buying their things explicitly and implicitly. However, these countries cannot exchange RMB for US dollars when they need to buy goods from other countries. On the other hand, CCP puts forward various conditions when these countries want to buy gold or other materials from the CCP with RMB. In this case, do you think people will still accept your RMB? Moreover, it shows the world that the internationalization of the RMB that CCP has vigorously promoted is actually a fraud.
Therefore, it is often self-defeating if you want to cover it up. Coupled with the deletion of blog in Weibo before (a guilty conscience?), master Chen’s nonsense excuse makes people believe that the content mentioned in the deleted blog post is true. This digital currencies cannot be exchanged for gold and foreign dollars stated in the central bank director’s press conference.
The CCP promotes this so-called digital currency in a hurry. Regardless of anti-money laundering and anti-corruption as well as advancing the internationalization of RMB. I think its most sinister intention is to use digital currency to completely enslave 1.4 billion Chinese people as its slaves, hostages and bargaining chip against the whole world.
It is 21st century now, the Chinese people are different from 50 or 60 years ago. Many people have conducted education and learned to think independently. If the CCP wants to trap all the people, of course it needs a suitable reason so as not to cause the people to resist. Besides, with such a large territory and a large population, it would be very difficult to stop smuggling by relying solely on strict border control. Therefore, on the one hand, the CCP spreads rumours that the virus was imported from abroad, and overseas is too dangerous to go . But many people don’t believe in their nonsense at all, and they still want to leave the country. Then, CCP will cut off your financial resources. By the time of that moment, people only have digital currency in your hand, but it cannot be exchanged for foreign exchange or gold. People can’t survive without foreign exchange or gold even if you leave the country. Therefore, ordinary people can only stay in the communist China obediently and become CCP’s slaves.
The CCP’s intentions are so sinister, but the poor Chinese people are still in the dark.
Editor: Looking forward to the light