Wall Street analyst Linda Jones recently posited a thought-provoking idea about Ripple potentially assuming a role akin to the Federal Reserve in the forthcoming financial landscape. Jones articulated this viewpoint during a recent episode of the Good Morning podcast. The conversation delved into the BRICS coalition’s ambitions to diverge from the dollar standard and its potential ramifications for the U.S. economy.
Jones underscored that the BRICS coalition’s objective is not to oppose the United States per se, but rather to challenge the supremacy of central banks and a single currency that dictates global affairs. She argued vehemently against the Federal Reserve’s influence over the global economy through the dominance of the U.S. dollar.
Jones speculated on the emergence of a new U.S. currency, possibly backed by gold or other tangible assets. She emphasized the necessity of a financial system underpinned by real assets, advocating a shift away from the current fiat banking system heavily reliant on the dollar.
Fundamentally, Jones advocates transitioning from a trust-based system managed by central banks to a truth-based system characterized by transparency. She draws a parallel between Ripple and the Federal Reserve in this context.
Jones clarified that such a systemic transformation does not necessarily imply adversity for America. She pointed out that Ripple, an American company, stands prominently at the vanguard of this new paradigm with its XRP Ledger blockchain technology. Unlike Bitcoin, which operates with pseudonymous founders and lacks a centralized authority for issue resolution, Jones highlighted Ripple’s attributes of transparency, accountability, and auditability as crucial for a credible currency system.
In a tongue-in-cheek remark, the analyst humorously suggested that Ripple could be likened to a modern-day Federal Reserve. However, she emphasized that unlike the current Federal Reserve, Ripple is privately owned and is slated for future public trading.
Abdullah “Abs” Nassif, host of the Good Morning podcast, recently shared excerpts of Jones’s insights on Ripple.
Moreover, Jones expressed confidence that Ripple’s pivotal role could help America maintain its global leadership position. She reassured that the U.S. dollar would not face complete devaluation before the transition, emphasizing the national security implications of such an eventuality.
Ultimately, the analyst envisions a dual financial system where various currencies operate on the XRP Ledger, reflecting her vision for a diversified and resilient financial future.
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