Welcome back to the Atlantis report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. Thank you. After banning all cryptocurrencies, China is now close to releasing its own digital coin. A gold-backed cryptocurrency. This could be a catastrophic trapdoor opening underneath the US economy. China appears to be advancing efforts to issue a digital currency in the wake of Facebook's own token, Libra. When China announces as a surprise its 20,000 tons of gold and a gold-backed cryptocurrency that will kill the US dollar debtor then a door now, it will be a Pearl Harbor type event, and it's coming in the next 6-9 months, Max Kyser predicts. Welcome back to the Atlantis report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. Thank you. Russia, from its side, is maybe building a gold-backed cryptocurrency on the state level that has the potential to disrupt the current global financial system. China may be on the same track. Russia is buying gold, and there is no denying or hiding this fact. In the past few decades, Russian gold reserves have more than doubled, and the demand from the government is now exceeding the mining supply of the metal. China's recent endorsement of blockchain technology meanwhile appeared to have an immediate positive impact on Bitcoin markets. Nonetheless, local media subsequently tempered the hype, advising citizens not to take the support as proof of a change of stance regarding cryptocurrency. Beijing outlawed cryptocurrency trading in September 2017, a situation that officially remains the same despite rumors that investors are using different on ramps to gain access. China launching a digital counterpart of the yuan backed by gold puts Bitcoin, BTC, at a disadvantage, veteran gold bug-peater shift claims. In a tweet shift notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Kaiser's report host, Max Keiser. China is rolling out a cryptocurrency, a lot of the details have not been divulged. I can tell you that the cryptocurrency that China's rolling out will be backed by gold. It's a two-pronged announcement. Number one, China's got 20,000 tons of gold. Number two, we're rolling out a cryptocurrency backed by gold, and the dollar is toast, Kaiser told Kiko News. Kaiser added that Bitcoin is a superior form of currency to gold. Both Fiat money and gold are inferior to Bitcoin for one straightforward reason, that with the Bitcoin transaction, it is also simultaneously the settlement. You don't have that with Fiat, you don't have that with gold, he said. A gold backed cryptocurrency would start the beginning of the return to the gold standard. This would be a disaster for many in the G7, most notably the USA but also the UK. Remember when Gordon Brown sold off the UK stockpile of gold, claiming it will never get higher than $350 per ounce. The US will be forced to compete, creating gold backed crypto and trade, that banks use to settle their trades. Meanwhile, the non-alete populations of both countries will continue to see the Fiat they're using and getting paid in, it is plummeting in value. In the end, the banks will own an even higher proportion of the real goods and services than they do now, and only technological innovation will keep the lower classes unaware of how they are pitilously plundered. Beijing has developed a framework called the Digital Currency Electronic Payment, DCEP, which would allow its central bank to issue a digital currency to commercial banks and third-party payment networks by Alipay and WeChat Pay. That's according to Jack Lee, managing partner of HCM Capital, who told CNBC, so they already have all the system in the network ready. I think you will see it very soon, in the next maybe 2-3 months. He noted that the launch could start as a trial and is not meant to replace physical money completely. HCM Capital has invested in a number of blockchain startups. It is backed by Foxconn Technology Group, one of the top 10 technology companies. China's digital currency could push authorities around the world to decide on how they want to use and regulate such technology. If the governments now realize that this is now really actually happening, and the question and challenges that are implied in an e-currency are now real, I hope this will lend further momentum to decisions on a global basis. Chinese President Xi Jinping has recently called for higher levels of research and investment in blockchain. China must make a greater effort to develop and apply blockchain technologies and gain an edge over other major countries, he said. This will render swift obsolete. Countries that use DCEP will no longer fear American sanctions. Marks a big step forward for the internationalization of Chinese yuan. This was the Atlantis report. Please like, share, leave me a comment, subscribe, and please take some time to subscribe to my backup channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. 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