On the latest episode of the Good Morning podcast, a Wall Street analyst suggested that Ripple could become the equivalent of the Federal Reserve in the emerging financial system. During the discussion, Jones touched upon the BRICS coalition's abandonment of the dollar standard and its potential impact on the US economy.
Linda Jones, a Wall Street analyst, expressed the view that the BRICS coalition seeks not to oppose the United States, but to oppose central banks and the dominance of the single currency in the global financial system. She also noted that the association of countries opposes the Federal Reserve's control over the world's economy through the US dollar.
Jones suggested the possibility of a new currency emerging in the United States, which would potentially be backed by gold or other assets. The analyst emphasized the need to create a financial system backed by real assets and called for an end to the current dollar-based fiat banking system.
Overall, Linda Jones advocates for a transition from a system built on trust and governed by central banks to a more transparent and fair system based on real values.
She also noted that such changes will not cause the collapse of America. She noted that the American company Ripple is at the forefront of this new system using the XRPL Ledger blockchain.
In addition, the analyst emphasized that the new currency cannot function without transparency. In this context, she contrasted Ripple with Bitcoin, whose founders hide behind pseudonyms and do not have a central point of contact to resolve possible problems.
The analyst noted that Ripple meets certain criteria: it is a well-known, transparent, audited and accountable organization. Linda Jones jokingly added that Ripple could be considered the new Federal Reserve System. However, she also noted that, unlike the current Federal Reserve, Ripple is privately owned and will be publicly traded in the future.
The analyst believes that thanks to Ripple’s position, America will maintain its leadership. In addition, she expressed confidence that the US dollar would not lose its value completely before the transition period, since such a collapse would become a matter of national security. As a result, the analyst sees the emergence of a parallel system where different financial systems work with the XRP registry.
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