Thiel says the U.S. is playing into the Chinese crypto threat

Peter Thiel has suggested that the Chinese cryptocurrency poses a threat U.S. dollar, but he is wrong.

Not so long ago, China’s policy of artificially maintaining a cheap currency was blamed by the U.S. as the cause of most of its ills. It mattered not whether it was the Ohama or the Trump regime; ‘China was a currency manipulator, and it was hitting the U.S. economy hard. It had to stop,’ they said. But in 2021, the argument has done a volte-face, no longer does China’s ‘deliberate and evil monetary policy’ lead to a dollar that is too expensive; instead, China’s monetary policy poses a threat to the dollar’s strength, or so warns Peter Thiel.