Compare this with what would happen if Jürgen, Xiu and Ai were to obtain the new digital wallets now on offer by the People’s Bank of China: Jürgen would pick up his smartphone, open the digital yuan app, send a sum of digital yuan to Xiu who would receive it instantaneously and at zero cost. End of story! Think of all the middlemen the digital yuan cuts out: Jürgen’s German bank, the Bundesbank, the European Central Bank and, crucially, the international money transfer conduit which is fully under the thumb of US authorities. It is nothing less than Washington’s, and the private bankers’,
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