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#XRPCommunity ▶️ 🔊 We may be close to @JoelKatz's "Success Scenario" 👀👇🏼 👤Speaker: @DrPippaM Credit: @DanielaCambone @ITMTrading @801_XRP 🫱🏽🫲🏼 #Ripple #BRICS #Swift #Crypto #XRP #XRPL https://t.co/IVv7eW1XyR
Video Transcript AI Summary
Former President Trump's economic advisers are considering ways to prevent nations from moving away from using the dollar. This move aims to counter emerging markets' efforts to reduce exposure to the US currency. The US previously excluded Russia from SWIFT, leading to the creation of alternative money clearing networks by Russia and China. Many nations are exploring innovative financial structures like CBDCs, while the US remains hesitant. The possibility of multiple world reserve currencies is realistic, with countries preferring a currency not controlled by geopolitical rivals. Success for digital assets could come from nations agreeing on a currency that no one controls.
Full Transcript
Speaker 0: What do you make of former president Donald Trump's economic advisers considering ways So going back to us talking about weaponizing the dollar, that they're looking at ways to actively stop nations from shifting away from using the dollar in effort to counter budding moves among key emerging markets to reduce exposure to US currency. This is according to people familiar with the matter. So, his team actively looking, according to this report, to penalize nations that break from the dollar. Would would, a counter move like that could that possibly work? Is that the solution?
Speaker 1: It's a it's a tactic. I don't think it's a solution, but let's back up a little bit. So when the events with when the policy dialogue with Russia started to unravel, the US said, let's kick the Russians out of SWIFT, the global bank clearing mechanism, and exclude them from the global financial markets. The Russian response to that was, fine. We'll build our own SWIFT, which they have in collaboration with China.
The rest of the world saw this and went, wow. If you cross the Americans, they can really hurt you by excluding you from the global financial system. Maybe it's safer to have a backup. And so many nations, especially the BRICS, started to work with Russia and China on these alternative money clearing networks, which are not controlled by the United States. And now it's gone further because those parts of the world are much readier to to deal with new technology than we are.
So the position in the US on, cryptocurrency, on tokenization, on Bitcoin has been, shut it down. It's all bad. The rest of the world is like, well, actually, these are very innovative, clever ways of creating a financial structure, and so they are pioneering this. We see, lots of what they call CBDC, central bank digital currency, which is kind of an umbrella term, being innovated in places like the Emirates, in China. And so, again, many nations are going, well, I would like to be part of that innovation, and the US says, we're not gonna do it.
It's all illegal. You can't touch it. If you try, we'll arrest you. So, obviously, what we've done is to say, if you don't play by our rules, we'll kick you out of our game. Now they're out of our game.
They're creating their own game, and they're like, wait. Wait. We don't want you to have your own game. That's what you're describing as the Trump response. But what penalties can you impose that would cause them to come back into our system, and would we even let them in?
So this is like competing financial systems, by the way, at a time when people are losing confidence in, the US dollar, western currencies because of our inclination to lean towards inflation. And yet, the US is the best performing economy in the world, and it's the only one with the law that protects investors, protects private property. So I do not see the whole world shifting over to the Chinese currency. Right? And it's not convertible either.
So you can get in, but you can never get out. That's not very pretty either. So, yes, we have our issues, but I still think Right. The dollar is preeminent.
Speaker 2: Do you believe that there can be, 2, existing world reserve currencies to I mean, to to simultaneously exist? I I do, and I think that could happen. I think it's quite realistic that a lot of the world is just done with the dollar as the reserve currency, and I think that there's a lot of places that are willing to try something else. And, you know, one of my one of my scenarios, and I don't think again, I don't think it's gonna play out quickly, but, like, one of my wild case success scenarios for a digital asset is if countries start to realize that the US dollar is not gonna be the reserve currency forever. Things are gonna be the reserve currency, and and the same thing that we saw with banks.
Like, people when I when we started selling software to banks, people would say to me, you know, why would a bank use something that, like, you guys were selling them when they could use something that was, like, made by banks? And what they didn't realize is that, you know, only, like, 10 banks in the country in on the planet are Deutsche Bank, HSBC, Credit Suisse, JPMorgan Chase, like the ones who would build a system the entire planet would run on. For the rest of the banks, that's 6,000 smaller banks, those are their biggest, strongest competitors. Those are the entities they hate the most. They would not want to use the system built and maintained by them, because it's going to be biased in favor of them, their biggest and strongest competitors.
And I think the same thing could happen to nations. Like, every nation would love for their currency to be the world reserve currency. That's helped the US, you know, that's grown the US economy, unfairly by leaps and bounds for decades. And every other country would be like, yeah, we'd like to have the world's be the world's reserve currency. But the only countries that could possibly pull it off is the US holding its position, you know, maybe the EU, maybe Russia, you know, maybe maybe 1 or 2 others.
But, realistically, most countries know that if there's going to be a new world reserve currency that's a country's currency, it's not going to be them. And so, they might actually prefer a currency that nobody can control to one that's controlled by their largest geopolitical rivals. And so, that's, like, what I think is the biggest possible success scenario for it for the for digital for, you know, for digital assets. If these countries are, like, okay, well, the US dollar can't hold on forever, but it's not gonna be our currency because no one's gonna wanna repeat the US dollars to you know, nobody but the EU wants the EU to replace the dollar. Right?
Nobody but Russia wants the ruble to replace the dollar. Nobody but China who wants the, you know, the yuan to replace the dollar. So maybe they could settle on a currency that nobody control could control rather than one controlled by their most powerful geopolitical rival. So if you want a success scenario, that's the one that I think is the most likely. But the money question is, how do you get everybody to agree?
Well, I mean, they might agree on they might agree if the alternative is that their geopolitical rivals force some new replacement for the dollar that that's not, you know, that that that just or if they just replace, you know, the old boss with a new boss. If the choice is no boss, you know, if that happens to make a bunch of cryptocurrency people rich, I don't think that's gonna they're gonna see that as too much of a minus.
@subjectiveviews - Subjective Views
@jacksonhinklle @POTUS Does anyone remember when nurses were dancing during the scamdemic...this is much worse. #PalestineHolocaust #IsraelPalestineWar https://t.co/7EaPGQkHoU
@subjectiveviews - Subjective Views
@JeckovKanani
Video Transcript AI Summary
The speaker criticizes the support for Benjamin Netanyahu, calling him corrupt, despotic, and responsible for worsening the conflict with Palestinians. They argue that Netanyahu diverts attention from domestic concerns in Israel by focusing on security threats. The speaker claims that America disregards Israel's domestic and socioeconomic issues, such as the high cost of living and corruption. They believe that America only cares about perpetuating conflict and does not prioritize the welfare and stability of Israel or its citizens. The speaker suggests that Israel is seen as a policy instrument by the United States, rather than a country with its own concerns.
Full Transcript
Speaker 0: I mean, look, they are supporting Benjamin Netanyahu, who is the most unpopular, the most despised, the most corrupt, the most incompetent, the most psychopathic, delusional, and despotic ruler that Israel has ever had. And he's responsible for both prolonging and worsening the conflict with the Palestinians. Netanyahu has made a career, on diverting attention away from the, internal domestic concerns that actually matter, to Israeli citizens that matter the most to Israeli citizens by endlessly talking about security and the supposed threat, that Israel faces. And, of course, the domestic problems in Israel just get worse, and the, conflict and the security situation actually just gets worse. And America loves it.
They don't care about Israel's domestic issues. They don't care about the, socioeconomic issues, the socioeconomic concerns that Israelis have, the high cost of living, The disparity between rich and poor. They don't care about corruption, in Israeli society and so on. And these are the, predominantly, these are the issues that matter the most to Israeli citizens, to American vote to, Israeli voters. But as far as America is concerned, the only thing that matters is continuing the strife and conflict.
That's all they care about. They don't care about the welfare and the stability of Israel, the safety of Israeli citizens. You see, Israeli citizens want to treat Israel like an actual country, and they expect it to behave like an actual country. And they think that, their lives and their concerns should matter like they would in an actual country. But to the United States, Israel is a policy instrument, so the Israeli population doesn't matter to them.