Peg the USD to XRP & BTC – a NEW Gold Standard


All right I’m going to give it a minute let a few people join in. I know I’m doing an early-morning livestream here but this is the time I’ve got so today’s Livestream it’s going to be morning with crypto or morning crypto. So Grab a cup of coffee if you’ve got one of your somewhere on the other side of the world and it’s 5 o’clock somewhere grab a beer grab a whiskey grab a scotch if you’re coming back from the bar you’re on the You’re on the west coast. You’re three hours behind I mean, there’s a good chance some some of you might be coming out of a club So anyhow, get it got a couple people here joining the stream so far just gonna give it a minute then I’m going to kick off. We’ll see how many people end up by joining on this morning Good morning pre-pro tuck. Thank you for joining in Nash croft good morning. Thanks for joining in A little bit about coffee. Not sure We we started out a while back on on French press and now a strictly espresso I love espresso and it’s crazy what we go through to to get good espresso a friend of ours comes from overseas once every couple weeks And it’s almost impossible to get sigfredo coffee here. It’s an Italian Brand, I mean get in different parts of the world obviously and get it over in Italy and it’s almost again almost impossible to source over here I’ve checked everywhere to get it and I did find one version of the saiga Fredo coffee and The only one the best one is in the black bag and you get it overseas. So he brings that over So then we started looking around and we found le le espresso which is also phenomenal So if you guys get a chance to check out Ilya espresso coffee, there’s two versions. There’s a red and a black version I think the black is the dark roast much better than the medium roast so Anyhow, I’m gonna give it one more cinema Actually, I don’t put cinnamon in my coffee Not in the espresso anyways So any I’m gonna I’m gonna kick it off Starting early morning like this wasn’t sure how many people we’d get on But those of you who are on I think we’re gonna have a great chat this morning. I’m definitely looking forward to it So let me let me pull up some of my notes here that I put together. I want to try to stay on topic My my goal is really to keep these two 45 minutes and under if I can hit that 30 minute mark, I’m not sure if that’s possible So I’ve noticed a lot of the livestreams go well over an hour and I would like for people to have an opportunity to go Back and and re-watch these live streams after the fact so Praxis Media Group yo, what’s up, man? Hey I’ve got I’ve been having some issues with the the OBS for for the livestream and I can’t seem to put a Screen share on that I want to put on so I’m using a secondary Laptop over here to monitor the streams as they come through and I’m also monitoring the health of the stream I was getting a bit of delay the other day. Hey Charles what’s going on? Alright, we’re getting some some people here. So thank you guys all for tuning in this morning tuning in to morning crypto Complaining going live every Saturday morning at 8 a.m. So like I said earlier grab some coffee, whatever your coffee of choice might be Hopefully it’s espresso because that’s my favorite So this morning I do have a number of things that want to cover the one thing. That is for sure Is that the financial world is shifting and it’s shifting at a faster and faster pace right now. It’s it’s really unbelievable when you look at what’s happening in the news, and then you make some You draw some conclusions about what’s potentially happening behind the scenes. We’ve got some great Stuff happening at the at the government level but Before I get into my topic of today and really what I want to talk about is digital the digital asset gold Standard, uh-huh, but holy shit. I don’t know if you guys saw what happened it was announced yesterday, but this really started back in December a an exchange up in Canada Let me say I pulled up this I pulled up the article here just to get it quadriga. What is a quadriga CX? 145 million dollars USD which was a hundred ninety million Canadian dollars lost just gone the the owner founder of this exchange is over in India and He dies and he took the password with him. I mean, the one thing that we that we all talk about is Securing your own digital asset. We talked about using a ledger I mean, what a what an amazing ad for having a Ledge and keeping control of your own digital assets, really? Unbelievable. I couldn’t believe I’m reading this article. This was on February 1. So I guess I was yesterday I’m sometimes lose track of time, but I can’t believe it I mean this is the exchange itself in terms of liquidity at this point has the equivalent of two hundred and eighty six Thousand dollars they misplaced. Oh, here it is It owes two hundred and sixty million Canadian. So 198 million 198 million dollars that is lost it has nothing to do with hacking He has everything to do with the owner and the founder of this exchange Dying, I mean that this is unbelievable and there was no backup plan. I mean that is to me you know it’s just astonishing I can’t believe it and then I Look and you think about it and you think about the exchanges that you’re keeping your digital assets on what’s even more? Astonishing and I’m looking at this article. I don’t see it specifically in this article, but they said it was a combination of Fiat currency as well as digital asset that is just gone lost and the wife Has been going through they found his computer and his computers encrypted. And so there’s no access to his computer no backup plan on codes You would think they would put a back-up plan some contingency, but this really shows, you know You can’t have faith in in these exchanges You know something like this happens, I believe that you know there are some if you look at like a by Nance if you look at You know, there’s obviously some negativity that goes around the word coinbase But if you look at coinbase if you look at uphold there are some major exchanges Gemini you would anticipate you would make an assumption that These large exchanges have some sort of a contingency plan if they’re CEO All of a sudden disappears one day if they’re let’s say a CEO of one of these exchanges gets kidnapped in this situation quadrant will cry trigger CX Gone, everything just wiped out not know know hacking the owner the founder simply just dies and takes the secrets with him, I mean that is Unbelievable. I mean I just I can’t get over that fact, you know And so I really think you know every day that I that I’ve that I decided to get a ledger. I have two Ledger’s now move digital assets off onto them and so I Just I can’t say enough about that that’s just when I read that yesterday I was just like oh my god, that’s insane Absolutely insane. I couldn’t imagine being one of those guys up in Canada and thinking hey all my digital assets safe, but even to keep fiat currency on that exchange I mean I just it’s just gut wrenching to see something like that happen then yesterday there is also an announcement that That banks over Primarily over in Europe are being hacked via the two-step authentication via cell phones via mobile the mobile app There’s an open back door on the mobile phones on the mobile phone networks. That’s allowing Individuals hackers to get into banks. So you think your bank accounts are saving your cash is safe granted it in that scenario As they’re empty now bank accounts not I’m not talking about digital assets But they’re empty now bank accounts because they found a backdoor to mobile 2-step authentication To gain access to people’s banks and it’s primarily over in Europe. It’s not happening in the US. We don’t have that I don’t believe we have that same issue, but that backdoor was put in so the government’s can then monitor what’s happening? transaction wise now they try to And this is one of the one of the areas that you see I want to call it flood in the media Negativity against digital assets and they and they single out the hacking of certain exchanges But here we are we have banks that are being bank accounts being emptied out Be in and again using just standard mobile application You know and and bypassing is two-step authentication process and emptying out cash out of bank account yet again You know that that’s just insane to me Stuff like that’s happening more good news, though. Another news. Tidbit here more good news that came out On the 31st. I believe there were two more Bills that were sponsored. I thought I’d pulled this up here so a – two more bills sponsored by Democrat Republican Darrin Soto of Florida and was co-sponsored by two Republicans, let me pull that up real quick. Hang on one second. I’m gonna type that in here. Let me just look it up Let’s see. It was HR 922 In the 116th Congress, if you look up the the wrong conga congressional session, you’re gonna get the wrong information But here it is, so HR 922 there were two bills that were just proposed by Darrin soda by congressman Darrin Soto I sent out a little congratulation to them the other day for introducing these because it’s so important and so Ckj brought this up on his stream the other night But what’s what’s great about the bills that we see Congressman soto introducing and you know, he’s a democrat. We see Warren Davidson over in in, Ohio also going the bipartisan route crypto currencies digital assets blockchain technology keeping it in the u.s. Is a Bipartisan issue. This is a revolutionary technology that has to the US has to stay ahead of the game We led the the industry when it came to when it came to the internet revolution There’s no reason why the US shouldn’t be a leader in the blockchain technology Revolution and so the the Congress and right now is really standing in the way of progress For the u.s. To continue being a leader and to continue being competitive, but here’s Darrin Soto many It was a bipartisan bill sponsored by Let’s see here. We’ve got Ted Budd Republican out of North Carolina We have a co-sponsor with Warren Davidson out of Ohio and we have a cold another co-sponsor another Democrat out of New Jersey Bonnie watson coleman and so this was introduced on the 30th. And so this is just fantastic. So This the the topic of HR 922 to promote fair and transparent virtual currency markets by examining the potential for price manipulation and then if we pull up 933 Let’s look up HR 933 this also a very important topic So, let’s see. Let’s see if it came up What did I type in? 933 116th Um-hmm. All right, let me look here. Hang on one second We just type it in the browser. So I’m gonna look up HR 9 33 and the 116th I meant to pull this up ahead of time before the stream started Let me look over who else joined in Atilla Budaj from Hungary. I love when I see people from other parts of the world logging in joining in Hungary is a place. I haven’t been yet. I haven’t traveled much into Eastern Europe, but I’ve been pretty much everywhere else. So Welcome from Hungary All right. So, let’s see HR 933 let’s see what we’ve got here This this one I think is important note. This is not the one. Oh Not 933. That’s my problem. It’s 923. All right, let me let me redo this one Because we add 922 and 923 not 933. All right, let me go back here. Here we go 923 I wish I was sharing this screen if you guys go to congress.gov and you can look up all the different bills and do some research on them, but the 923 is is really the the important bill that they’re that they’re that they introduced I’m sponsored by and this one had a slightly different Co-sponsor base but this is to promote United States competitiveness in the evolving global virtual currency. Marketplace, I think 9:23 is probably one of the more important bills Because this is basically saying we got to get our act together If we don’t get our act together now, it’s gonna be way too late. So Darren Soto Co-sponsors with three Republicans at ed bud of North Carolina Warren Davidson again out from Ohio and Tom Emmer From Minnesota Republican and Tom Emmer just introduced a bill a couple weeks ago as well So things are picking up which is fantastic You know, I’d love to see some some progress being made at the Congressional level It’s so critical and so let me let me take a look here. Take a little pause get some more people logging in or commenting Yeah again, yeah, I would love to visit Southend-on-sea England love my strength. Thank you. I appreciate that a lot Northern Michigan I used to live up in the Detroit area. So Joey one three five eight. That’s awesome. What part of northern, Michigan South Carolina fantastic in there love, South Carolina Alright southern Isle of England. I’ve been all throughout the UK my favourite place. I love going over to Ireland Been throughout Scotland been all throughout England a fantastic place. Haven’t been to Wales yet, though Um Attila very good tops. I appreciate that. I really try to stay on Interesting topics, it’s you know, I try to avoid fluff Um, you know that that always kind of bothers me a little bit when you know you go on you want to watch something? important watch something interesting learn something new And then it’s just a bunch of fluff and really you don’t get much out of it. So I tried to do my best introducing and you know, hopefully the people Appreciate it. So I’m glad to hear that you guys appreciate that Southampton UK fantastic Fantastic, so that’s great. I love seeing again. I love seeing the the international Viewership. That’s fantastic Anybody from India? Let me know Ben over there as well Ben all throughout India a lot of great things happening there India, even though they’re there I Think we’ve seen some stuff in the news over in India that and and I made a video on this a while back I don’t know why I’m kind of sidetracking on India But I believe that India could really make a huge impact in the blockchain and the digital asset space and if there’s any country in the world that can benefit from this technology and benefit from digital assets and benefit from a revitalization or a Burgeoning of their of their economy at the lowest levels of India is it and India’s made some really interesting? changes when it comes to digitizing their own currency and removing Fiat currency out of the market this I can’t have to go back and see the video that I’d made on it helped You know when it was exactly but they had removed like 75% of all their fiat currency from the mark and there’s a huge Population over there was like 1.3 billion people and about 700 million of them live in absolute poverty Um, and then there’s this upper class which is like two hundred two hundred million people in India live in this upper class I mean, it’s unbelievable, you know, the size of the u.s. Is what like 330 million and almost the entire size of the u.s Is an upper-class wealthy class over in India, then you have a growing middle class That’s just booming over there. And then you have this impoverished class. That’s it’s like 700 million people I mean it’s astonishing and when you go over there and you see the poverty But these are the people that relied on fiat day-to-day. They can’t even afford to open a bank account let alone did they trust the government enough to open the bank account, but the fees would kill them because you know We’re talking about people that make maybe you know the equivalent If they’re an engineer, they’re college educated. They might make $200 a month. I mean, it’s it’s unbelievable over there Leviathan was that Lavazza. Espresso. I think I’ve had that before – that’s pretty good yeah, I’ve been focusing on the Ilia now now that I found a source for Illya I went to they have a cafe over here in Ilya cafe In the Detroit Airport, there’s a Nili downtown over here. There’s a nilly now near the house They opened up a nilly and I started seeing illy popping up all over the place typically over in Europe you get the illy coffee now I found it on Amazon and I hope it’s real because But anyhow, it’s good stuff All right, so sorry I sidetracked into into India but another another News item that just came out and this is to me this really is super super meaningful The other day I put together a video on what’s happening at the state level and so Wyoming had proposed a bill a couple days or a couple weeks ago I think was second week of January to recognize digital assets as money and January 31st always talking about a couple days ago. Wyoming is going down in US economic history so our Children are their children when they go back into reading in the history books They’re gonna see that Wyoming which is crazy. You know you think about it what else? You know, you don’t hear about Wyoming and the news too much, but here’s Wyoming Recognizing what I believe it’s the first state to truly recognize digital assets as money we talked about Nevada the other day what Nevada has done to to Cut out taxes on anything to do with blockchain digital asset So and making their state more friendly the state at the state level We’re seeing a tremendous amount of competition to attract This technology and attract companies that are developing this technology So the state level we got to keep our eyes on the state level the states have the power To do and to and to create their own Their own regulations Over the digital assets space obviously the Fed can the Fed is the only one that can coin money But here we are we have, Ohio That is now allowing the acceptance of Bitcoin to pay taxes that Was that was tremendous, you know the fact that Ohio was the first to do that Nevada. I think there’s an the dates are slipping out but I think was in 2017 and then when they started initiating some of their friendly Space for for blockchain and did you I so they want to attract the companies to Nevada, Nevada, there’s a Multi-billionaire over there that that bought up so whatever amount of space to create a blockchain town Which is unbelievable and they’re gonna start construction on that Wyoming is going the direction of a Malta but here in the US So if we see Malta super blockchain friendly and companies are moving from all over the world to go to Malta We saw the Marshall Islands is now accepting a digital asset They have a digital currency that’s sitting side-by-side with the US dollar because they want to decrease the reliance on the on the fiat and the IMF was Speaking out against that but here but here in the in the US were bogged down by the lack of SEC SEC Clarity were bogged down by the fact that Congress hasn’t taken the initiative to vote on the proposed bills But we’re seeing these the bills coming from multiple different directions as we just talked about with Darren Soto and soon Warren Davidson will reintroduce The token taxonomy bill he has not reintroduced it yet But when they do it’s gonna have some modification and it will probably have a different name I would assume because the token taxonomy was for the 115th Congress and now we’re in the one hundred and sixteenth a session So we definitely should see some some great things happening over there. Let me take a look over here Sorry again, I got a look at the other the other screen – Croft over in Texas, man Texas is awesome – I love going to Texas that’s one area that we had actually planned on moving to at one point been there Houston, Austin Been to Austin multiple times a great place definitely loved it over there Juliane from the UK Um, all right, I’m gonna I’m gonna focus Let me if you guys have any questions as I go through this I’m gonna get into my topic here in a minute Um, and then I guess we’re already at like 25 minutes. I said I wanted to try to keep these to 45 We’ll see. We’ll see where the time goes. I definitely no more than an hour I definitely want to cut it cut it off at that point But let’s see There was a question. Where did it go? Here we go. Okay, Julian What’s keeping the ripple price suppressed now I covered this the other day On a video I’ve talked about this in the past on videos in my opinion And it’s strictly based on my own opinion observing the marketplace, but I believe that the price of XRP is going to increase as we see an increase in actual utility of XRP so news and price really don’t coincide with one another so if we’re talking about Amazon Google Facebook or General Electric GE or GM or whatever. It might be we’re talking about a corporation with a stock as Negative news comes out on the company the stock Price will most likely reflect the positive or negative news and so we see a lot, you know we talk about manipulation of the market Manipulation of pricing right? There’s a lot of talk about manipulation of the pricing on digital assets, but there is 100% of a concerted effort and this is my opinion and this is through observing My wife was investing, you know quite a bit also, and and she kept telling me that this was what would happen I said no that that’s not it and I was monitoring everything but you know when when you go in and trade and you see the media and you and and the media for Them the media FOMA whatever it is pro con by the time something positive hits the media like a Jim Cramer show By time he’s talking about it. You need to be out of it because it’s too late Everything had already happened with whatever that stock is if there’s negative media attention. Look at General Motors right now I have not even invested in General Motors anymore, but if we look at their share price on Monday and Yesterday they announced they’re laying off 4,000 people Almost guaranteed that their price point should go down. There’ll be some negative Impact on theirs on their stock. Look at them two ge ge took a took a nosedive I mean their business is a disaster right now their stock price went down considerably but then Thursday the GE stock went up by eleven twelve percent because there was some positive news. So I guess my point here is Positive news negative news is going to impact a stock But when it comes to x RP x RP is not a stock. It’s not a security you’re not invested in x RP with the Expectation that as as news and good things happen with ripple that x RP is going to reflect a positive or a negative price impact as a result of the positive or negative news that is Reflected within ripple. So I think that’s that’s the differentiator and if they were tied together Then at that point there would be it would be more evident and this I think it you know If you go back to the Howie test as well, and we talked about that on a video the other day but at that point X R P would be a security because there would be an expectation that as good things happen within ripple that we’re expecting a Percentage of that increase and that percentage would then be given through X R P an increase in the value of x RP now? the expectation of Increase of the value of x RP and again, this is my opinion. So take it for what it’s worth you guys can do your own research and figure it out, but x RP should increase in value as more banks begin to use X rapid when more companies begin to use X RP But we just saw the tie-up With Swift and r3 who knows how long it’s going to take for them to roll that out. Is it a year? Is it two years? I don’t know how long it’s going to take for a full implementation of Software and in an organization like Swift when we talk about, you know implementations and rollouts you know for them to use that that solution but what we do know is that with with that tie-up Swift will inevitably be using XRP as the solution through r3 because we know r3 through kurta is Using XR P and n was the first primary digital asset that they’re that they’re tying into into that into that platform So obviously there’s other solutions out there There’s other options other digital asset options, but what we know and I talked about this the other night And and I talked about also on another video kind of one coin one use case But the point here is that XR p was designed it was developed with the intent of being a solution for cross-border payments and and Mega-sized cross-border payments we’re not throwing about micro payments. That wasn’t the Concept of its development was to allow banks to move large sums of money Within seconds and they talked about what three seconds you can move millions upon millions of dollars. That’s the power of that of XRP Swiff knows it the world knows it the bank’s know Everybody knows the power of XR p but getting to your point there is is or when will XR p increase in value? It’s a matter of adoption and utility. Once it be get is used The value is going to go up based on scarcity of availability based on the requirement and the need of liquidity By these banks and that’s again the premise of XR P is is as a solution for liquidity, but also as a solution for Settlement so if we’re moving these large sums of money and we’re talking about what what is it? You know, I forget the exact number was it five trillion dollars a day or moved in cross-border payments so if XR b becomes the epicenter of these cross-border payments Who knows where the you in the price-point can go? It could go we saw all sorts of people talking about Numbers last year the 589 s and all of that that we have other people talk about the potential of it Exceeding it could go to $1000 it could go to $2,000. Who knows? Maybe I’ll stay at 30 cents. Maybe go to $1 I don’t know if we if anybody really knows at this point Especially on our side that the guys over at ripple have an expectation of where it’s going to go I’m sure they do do the banks have an expectation of where the value is going to go I’m sure those guys do as well at the government level I’m positive behind the door, you know behind behind closed doors third. They’re talking about it. They have an Idea of the direction of where the digital assets can go so You know, so that’s so that’s kind of that take on it. Let me take a second here when we look here Let’s see Where’s my There we go Keep buying this trying to back up. Sorry Donegal Ireland Lisa Flanagan, I Think I’ve been through Donegal. I love going over to Ireland. That place is awesome Like I love going to Glen Tulloch I did an accidental hike one time through Glen Tulloch through the mountains over there. It was not intentional but we were driving from Dublin’s coming back over from From Germany and we decided to do a couple days stopover in Ireland drink in Dublin drive around a little bit I was with a co-worker and we said hey, let’s just drive and see what we can see and we ended up at glendalough and Then we started walking looking for some views and both of us are in good shape He’s a marathon runner. I run a lot. I work out a lot But anyhow, so we ended up hiking up this the mountain up there we’re seeing people coming down the mountain with their backpacks and hiking gear and They’re looking at us they have maps and they’re looking ATS like we’re kind of crazy we ended up doing this I don’t know It was like a three hour mountain hike all the way around and people are struggling We kind of ran through this the hike but it’s unbelievable I love going there and my wife son and I we go over to Ireland every every chance we get I love it It’s an absolutely fantastic place demas over in Melbourne, Australia Haven’t been to Australia yet, but I heard it’s a phenomenal place Was that Germanness tan a butterfly trader Let’s see, I’m just gonna scroll through see what what we have here Why isn’t their utility yet? That’s another good question But utility is coming. I think it everything takes time. Yeah, if you look at the rollout of anything you want rollout of software Rollout of whatever it might be. You know what we’re talking about a change Complete change. I mean it’s again. It’s a revolutionary change even for the banks that Move away from a swift and to go into a digital asset based Solution I think is is monumental and I think we’re gonna start seeing utility. It’s it’s happening around the world So, let me shoot these, uh You and a is coming through here. I’m gonna try to get back to it here in a second So let me let me move on and I want to try to stay a little bit focused on point here Let’s see here. Okay, so So we talked about Wyoming we got into Some sidetrack a little bit on XRP, which is awesome Now digital assets in general are really moving Towards global adoption at the highest level. So we’re talking about XRP we’re talking about what’s happening with the banks now Wyoming is just recognizing digital assets as money Japan and Germany have already recognized digital assets as money, you know So we’re seeing nations and these are leading nations. Right? Germany is is the leader the economic leader of Europe Japan has always been the economic leader of Asia. Although we see where China is going now China’s is a powerhouse India can be a powerhouse But here’s two major countries that have already recognized digital assets as money So hey if you if you guys are just tuning in My name is Jeff with a hotter report this this stream I’m going to be doing this live stream morning crypto every Saturday at 8 a.m I think it’s a great time. So anyhow, so let me turn towards the topic of today and then I’m gonna get back into and I’ll get back into the Chats so I just picked up someone’s drinking a Newcastle Newcastle is great Jade At that time of day already. I was thinking a little bit of uh of Jameson or something in the coffee would have been good a little bit too early. We’re at the Irish pub last night Drinking tealing small-batch with with Guinness and that was really good. So, all right. Let me see here so really the topic of today and so if I can you know get back into that a new gold standard in the making alright, and so this is really again, we’re looking at the globalization of digital assets We’re looking at where? XRP and big coin are going the Feedback at the at the national level at the at the largest the the within the largest organizations those who control the Economics the banking etc But Tim, this is my opinion. I I firmly believe that these two Primary digital assets are really in line right now to completely disrupt Global fiat and I also believe that these two digital assets are going to be center stage at least for right now and and the reason why I can say that if you look at What’s happening? Like in Ohio? They’re accepting Bitcoin is a form of payment for taxes. Although it goes to another exchange I brought that up and there’s so much discussion over a Bitcoin so so as government’s transition to accepting digital assets of You know again The payment like Ohio for taxes Wyoming as a currency or A recognized currency, we have the Marshall Islands that has their own currency we just saw another stable coin the other day that was pegged to Bitcoin not paid to a fiat currency up now potentially the Fed Recognising or the government recognizing a new gold standard for the US dollar fiat now You know, I don’t want to discount any other the potential of any other digital assets or blockchain technologies I really want to focus in on two of the most current globally accepted digital assets with really at this point the most Adoption potential now, it might be a little bit crazy to talk about digital assets as a gold standard But I think if we look back there is an argument to be made that Digital assets are really the perfect solution To create a gold standard not just for the US dollar but for currencies around the world So if we look at today’s fiat right the US dollar as most other currencies around the world aren’t really backed by anything other than a Promissory note that’s issued by the government and accepted by the public as a note of value. So if we take a dollar bill I’m accepting that dollar bill because it’s you know, it’s a promissory note by the government that it has a value but I accept the value and the person at the store or the Individual I’m giving it to also has to accept the value of that note as a dollar for goods exchange But there’s nothing else backing it up It’s basically just paper and I’m saying this has value for whatever goods if you’re gonna sell me a bottle of water My dollar is now worth that bottled water and from your perspective. You’re selling me the water then you’re also seeing that same value now The gold standard which was dropped by the US years and years ago back in 1973 which pegged value of the dollar To to gold at that time, right? That was the gold standard and it was based on X amount of value or weight of gold Was valued at whatever amount of US dollar. Let’s say was sixteen hundred US dollars per whatever ounce of gold now when it comes to To this that is topic So the question that I want to throw out there and to me that I think is it’s an interesting question to talk about which is Really my topic now X RP and Bitcoin as a gold standard for a new economy should the u.s Return to a gold standard should other countries return to this quote-unquote gold standard but when it when it comes to actually returning to The gold standard should it be a gold backed US dollar or should it be a digital asset? gold standard now when we look at This argument. There’s there’s really There’s two parties in this argument There’s those that are opposed to return you to the gold standard and there’s those that are in favor of returning to the gold standard those in favor There’s some really important people in government and in business that believe that returning to the gold standard is important Those that are opposed to it Claim that there’s not enough gold in the US holdings to support the US dollar to cover all current global transactions pegging the value of US dollar to gold held Could limit the US government aid in adding liquidity to the market in times of financial instability There’s all these different arguments opposed Makes sense. All right now gold, although limited in in quantity. You can only hold so much But then you have to stake a value to it It’s not Transferable it’s not movable. There’s all these other things that go on with with gold and in terms of how to to maintain it, etc But but that’s why we’re gonna talk about the digital asset gold standard. So those that are in favor of Return to the gold standard a state that pegging the US dollar to a gold standard would limit the runaway Nonchalant printing a fiat so over the years that’s what the government’s do. Oh, we need more money. Let’s print more money All right. So now you print more money. There’s more money available. The value of it is intrinsically less Because now you have more of it now, it doesn’t make any sense so the inflation on the cost of goods is This bottled water is this bottle of water more valuable today than it was 10 years ago It’s the same bottle of water. You know, why does it now cost me more money? To buy this bottle of water than it did 10 years ago. Why is it that I could have bought this for 50 cents? now it cost me a buck 50, you know, and so that has to do with really the rampant and and and the nada is I just read the nonchalant printing a Fiat to make up for economic woes and that that’s these these you know those those with in government and For years, it’s been mostly attorneys That had that run Congress that run for Congress that get into political office that get elected That go to Senate the majority of them are attorneys If I’m going to get my preparing my taxes Or if I want to investing advice the last person in the world that I’m going to go to for economic advice is an attorney I’m gonna go to a CPA. I’m gonna go to someone that understands stocks. I’m gonna go to someone that understands money But I’m not gonna go to the attorney to get financial advice same way I’m not going to go to the financial guy to get legal advice But why in the world are we electing attorneys to make decisions on? economic things that impact our Economy, it’s unbelievable and they sit up there and they talk then they listen to their experts and then they make their decisions But what other decisions made on their thought process if you go to law school when you study law Your thought process is completely different than those who study money those who? Invest those who create business owners and there there’s some attorneys out there that could be phenomenal business owners That’s like taking a doctor. I’m not gonna go to a doctor and get economic advice There’s some doctors that are phenomenal business guys There’s quite a few doctors that have no clue about business whatsoever You know, so so it’s just amazing to me. So anyhow, so those in favor again return to the gold standard Begging the US dollar to this gold standard would limit the runaway nonchalant printing a fiat Which they argue will also inevitably lead to Rampant inflation and undermine the stability of the US financial system. So again this bottle of water Ten years ago, maybe I could buy for 50 cents today. It’s gonna cost me a buck fifty that’s because of the mismanagement of the economy at the highest levels in government and and their idea to solve all the woes by printing more money or What’s their other solution? Let’s tax everybody. Let’s let’s take more money out of your pocket right now you pay 35% tax forty five percent tax on your invest on your On your income then you have property tax Then you have sales tax Then you have use tax then there’s tax for your cellphone bill then there’s tax for your for your cable bill, then there’s fees to register your car and then there’s there’s so many taxes if We really break it down and we look at how much money is taken by the government in terms of taxes if far exceeds What you’re paying on your income, it’s unbelievable and yet they want to take more money You see the arguments right now in Congress and some of these freshmen Congress women that are calling for ninety percent tax on wealthy where in the world do they think that jobs are made? What do they think these wealthy people do with their disposable income? Do they keep it in a bank account? Should it be redistributed these people that are at the top are going out there and buying ridiculous things They might buy ridiculous real estate. They buy ridiculous commercial buildings that are rented back out to help people Work put people to work they help people Invest in new businesses. That’s where all this money goes. It doesn’t just sit in a bank account. I mean, that’s insane That’s absolutely insane. The more you see these people on the on the Left that are moving this country into Fascism and socialism and yet accusing those on the right that believe in It in a limited government in limited taxation Let the people keep their money if I want to invest in digital assets, and I want to make money from digital assets What businesses of? Others to then tax me every single time. I make a transaction with a digital asset What did I just do I created money? But why in the world does anybody deserve a percentage of what I just made that makes absolutely no sense and it’s not in the government’s not backed up anything because their way of making more money is Taking our money and form in the form of taxes or they print more money. It just it just makes no sense now this entire topic my thought process on this came out of reading an article and I read this years ago and It just stayed in my mind for so many years so if you follow Steve Forbes know you guys probably know who Steve Forbes us, right? So Steve Forbes This guy is absolutely amazing he ran for president a couple times the guy he runs for magazine the guys got Economically, this guy knows what he’s talking about, right? He there was an interesting interview in from 2012 so seven years ago Steve Forbes was was interviewed discussing Specifically going back to the gold standard should it happen? Could it happen and and his point is that Yes, this is exactly what we should do. So I want to I’m gonna read through this we’re already now. Sorry May I got I kind of ran away with everything now. We’re at the 50 minute mark I might be going a little bit longer than I anticipated here. But That that’s how it goes when you when you get on a rant I’m gonna try to minimize my rant so that I respect everybody’s time as well. We got some mail great comments coming through here I’m gonna try to go back and respond man, Rob cash. Thanks for showing up if you guys tuned in I know Rob has been super busy working But man, your show is awesome if you guys haven’t tuned in to his YouTube channel tune in to see Rob cash Awesome, awesome stuff that he talks about super fired up and motivated on XRP So, like I said, I’m gonna try to go back up through here and and respond But let me get back into this what I’m gonna do on a dissect this interview a little bit I’m gonna try to wrap things up here hopefully in like 15-20 But so let’s see here Go back to I’m trying to stay back on topic. So so the point here is Steve Forbes and this interview is talking about it return to the gold standard there’s others in government others in in economics that believe that we need to return to this gold standard now if it does happen What about a digital gold standard as I just mentioned earlier on could it be based on? the US dollar to Xrp to Bitcoin or maybe even a basket of digital assets, so we were not Relying and and putting our national security at stake by any form of manipulation of other players Within that space but as a country imagine the amount of digital asset that they would that we need to accumulate and hold and the value there of For these individual digital assets would be phenomenal right and and the the and at the end of the day though, we’d be securing our Currency our national currency based on something that is truly limited in Quantity gold is never limited in quantity because you can keep mining gold There’s gold all over the world and then there’s the fight in the control and we see countries that are attempting to a mass gold again like Russia and China and Others but let’s make take a move into the digital asset gold standard Now really think about all of this while we review the article. So again, this was Published let’s see July 2012 The writer Ron Hera the title of this article was Steve Forbes how to bring back America now I don’t like going through and just reading articles but this article is so important you guys can look it up You can read through it as well. I’m gonna read through parts of it. I want to dissect it I want to comment a little bit on it. But again Steve Forbes, you know who is Steve Forbes? So let’s just do a quick recap editor-in-chief of Forbes magazine again Republican presidential candidate in 1996 and 2000 when he was at Princeton. He was the founder of business today magazine Which is the largest business magazine with with student writers in the country. He served in the Reagan administration He supported many political candidates over the years and he’s a huge supporter and proponent of the flat and that could be a completely different video that We can have and discuss. I am planning a planning on a video based on flat tax I’ve had people present on flat tax before and it’s it’s actually It’s pretty it’s pretty astonishing. So Bob now again the hair. So here this is hair a research newsletter Let me let me read some snippets here and then Let’s let’s dissect a little bit. So, let’s see What’s the time here? We’re almost at nine. All right, so they start out Thank you for joining us today with the US economy struggling to recover from recession and financial Crisis, what policies would you recommend? Again? This is Harry research active Asking Steve Forbes. So Steve Forbes responds and this is great. This is the financial crisis This is as we were coming out of the the economic collapse really globally So Steve Forbes says the only way to recover is to stabilize our money. Have a gold back dollar simplify tax code and a return to a free-market 100% right on the money Unbelievable. So so the follow-up question then is You advocate the gold standard. That was Hara Steve Forbes says if there’s any better system to ensure a stable value of money It’s yet to be found what Steve Forbes didn’t realize in 2012. Hang one second What Steve Forbes didn’t realize in 2012 is that The other system was founded already. The other system was in development. It was an incubator stage Bitcoin the beginning of digital assets 100% was starting at that time 2010 the initiation of the digital asset revolution That had started at that point now we’re in 2012 Steve Forbes wasn’t aware of it or if he was But if there’s any better system to ensure a stable value for money, so he again he wasn’t looking Forbes statement is so relevant now. There is a better system a much better system than the gold standard and that is and that is a System that’s backed by a digital asset gold standard now choosing the right digital asset again Bitcoin bitcoin is a store of value There can be some argument Against a mined coin that can be easily manipulated by foreign holders by foreign miners We know that the majority of the miners are over in China however once you accumulate a certain amount of Bitcoin that is out there Then now you control, uh, you basically control that that value of Bitcoin Now if it’s divided out the values go up the government if they were to back it with a Bitcoin Let’s say there would have to be obviously the guys are much smarter than I am I’m figuring out the balance of what you would have to hold versus value and then you would actually be able to push towards Setting a value somehow Based on based on holding and trading etc XRP the same thing So it doesn’t have to be It doesn’t have to be a one-for-one obviously XRP which is decentralized XRP is in significant abundance XRP is easy to hold and quickly exchangeable XRP value doesn’t have to be one-to-one So the value of XRP could be allowed to breathe and grow under this digital gold standard now Forbes continues for nearly all of America’s first 200 years The dollar was linked to gold since we went off the gold standard. We’ve had more and more financial economic and banking crises that’s a hundred percent spot on and And we talked to we just were talking about the fact that there’s nonchalantly printing money What happens when you nonchalantly print money you create economic crises. What happens when you let the The banks run rampant and make their own decisions. You see what happened with them mortgage crisis now There is a point there because you can get in do your own research on this and look it up the government is 100% tied to what happened at the banking crisis level and the impetus of The mortgage crisis starts with the government. It starts at the top. They can’t pass the buck. They’re the ones that control the banks They’re the ones that control the regulation. They’re the ones as we know. We’re seeing it firsthand with XRP They’re the ones that that monitor they’re the ones that approve. They’re the ones that give the clarification again They’re the ones who? Regulate they’re the ones who make the decisions on what happens with the banks and if they don’t like what the banks are doing They tell the bank’s. Hey, you know what? We’re no longer gonna give you permission to build new branches We’re gonna stifle your business or do what we want to do that happened years ago Jimmy Carter started it Jimmy Carter said if you don’t write Mortgages to those that can’t afford them. You’re no longer gonna grow. That’s a topic for another day now So he continues Let’s see here for okay. So for example, the Federal Reserve hadn’t started printing so much money ten years ago We wouldn’t have experienced the housing bust or the commodities boom or the sovereign debt crisis in Europe eventually events became a become a Persuasive teacher. So now a herre continues with a line of questioning here Don’t we need a flexible money? Supply Steve Forbes says That’s like saying that changing the number of minutes in an hour would be a great tool to increase productivity in the economy manipulating weights and measures whether it’s the number of ounces in a pound or minutes in an hour is a false way to think that You can achieve prosperity all gold does is serve as a yardstick to measure the value of your currency? so really again per our argument a digital asset or basket of digital assets having the US dollar or any other fiat currency pegged to a single digital asset like XRP or a basket of digital assets like an X RP and a Bitcoin and others The single digital asset or basket is simply a measure To the value of the fiat currency and knowing that it’s backed by something real Again, a digital asset might not be tangible. We can put on our money, but you know what? It’s but it’s real it exists It’s limited. It’s accepted by the world right now as a as a as a value. It’s ahead of value put to it Why not turn things around but we could take it a step further and completely remove the fiat currency from the equation But this argument then interferes with the sovereignty of the nation so we could say you know, what? we’re not we’re not even to transact in u.s. Dollars anymore remove US dollars from from the argument remove all national currencies fiat currencies from the discussion But again this interferes with a sovereignty of that individual nation, so the u.s Is not going to put themselves in a position where they’re no longer in control of their own of their of their own currency so again, the federal government has Reserves the right to coin money, but you can still peg the US dollar to a gold or to a digital gold So by this standard it would have to really be an act of the US government to adopt a digital asset as the national currency Which they could do also there could be a u.s. Dollar digital asset currency. But again, it still needs to be backed by something And so that that’s really the the idea here, but, you know similar to what we’re seeing again We talked about the Marshall Islands with the acceptance of I think it’s a POV digital asset Currency side-by-side with the US dollar but that POV that it has to be backed by something. Um, You know and so and in the same same way around You know overall when we get to the national level and so that’s why we’re looking at Bitcoin as an example Bitcoin isn’t and and it’s been shown over and over and over again This technology is amazing as a store value but it isn’t amazing is a day-to-day transactional digital asset currency. But as a Methodology or a method to then backup the US dollar as a digital gold standard. It could be amazing potentially not saying a hundred percent, but Potentially or a basket of currencies and we look at the SDR under the IMF, which is the Special Drawing rights And they have a basket was at five currencies world currencies that are in in the Special Drawing rights there’s there’s so much potential here for what could be done with the digital assets and we’re just kind of scratching the surface, but this goes back to 2012 this article now Hera continues, um doesn’t increasing the money supply helped to stimulate the economy again their thought process Let’s increase the money supply. Let’s make more money Let’s decrease the value of the paper that it’s worth from one dollar. We now have two dollars It’s like when you do a split in stock when you split your stock if I have a hundred shares of stock and you’re gonna give me 200 shares of stock my Expectation is that the price of that stock share per share is going to decrease um, but now if I hold a dollar and now you print make two dollars My $1 is less valuable now because now there’s more of it out there It just did though concept just makes no sense. So but this is an interesting question that they brought up will Increase in the money supply help stimulate the economy Again, because this is what the US has been doing for so many years just print more money Pretend to be more solvent It actually put the country more further in debt And there’s really no way to pay for government programs as I’d mentioned before they have two options one option print more money The other option tax the hell out of people and we see what they’re talking about in government right now I already talked about that. They want to tax the hell out of people doesn’t make sense now Steve Forbes says the only way to increase prosperity Is through innovation and productivity so innovation, what is the blockchain space if not innovative? Blockchain is the most amazing technology Government needs to get their act together government needs to put in their regulation They have to make sure that they keep the blockchain technology in the US and allow the u.s to be a leader in the blockchain space 2012 Steve Forbes is talking about about things that are so relevant to this space we go further back we can go way way back if we start digging into into economics and we start looking at the differences of opinion between the free market that allows for innovation and productivity or we can look at the government economy that Stifles innovation and productivity. It’s a very easy discussion to have You decide where you want to fall in that space. I’m not trying to offend or insult anybody I don’t care if you’re a Democrat or a Republican Economy and numbers are numbers. You can’t manipulate numbers to your argument It’s black and white one is 1 2 is 2 you can’t manipulate it it is what it is So if you’re gonna tell me that the government is going to do great things with the money I give them I’m going to tell you based on evidence. In fact that that’s a hundred percent incorrect So the government can do some things there’s certain things that we need to pull our resources For to take care of we need to make sure our roads are good We need to make sure we build bridges we need to make sure we have the strongest military in the world Those are things that we need to do right now Outside of that we need to also regulate and make sure that the government is actually doing it at an affordable price We need to make sure that the government is doing it effectively. We need to make sure the government is doing it period So when they tax you and they bring all your tax revenue into one pool and then they decide they sit back and say, okay Now the lobbyists come in I’m going to decide Where I’m going to divvy up your money that we you just worked and slaved over 40 50 60 70 80 hours a week and We’re gonna decide how we’re going to distribute this money. Now, we might even give it to other people We’re not going to create work training programs We’re not going to help educate people to to retrain them We’re just gonna hand out money because if we hand out money if we redistribute the wealth It’s just like creating more money. What’s the difference? I take your money that you work for and I give it to These people over here that didn’t work for it. That’s a redistribution of your of your of your means. That’s like printing more money well, why not take and Agree, hey, you know what? It’s gonna really be beneficial if you guys that are productive you guys are creating jobs We have all these people over here that could potato There are physically able mentally able to work Jobs are training our jobs are changing Technology’s changing. Maybe we need to find a way Within the government program or a private program to re-educate these people to help them become more And one second here stupid pop-ups. Hang on, uh, you know, We need to find a way to make them more productive in today’s society. We don’t need a distribution of wealth We don’t need an over taxation Sorry another rant. I’m sorry about that. So this really just goes back to this topic And again, I’m not trying to offend anybody if you have a difference of opinion, that’s that’s fine But again, I’m just talking about it from an economic perspective Strictly uh-huh. So um again Steve Forbes He said financial and innovation has been with us for hundreds of years in terms of new financial instruments To meet expanding needs as the global economy comes more complex So that was a follow up the question there wouldn’t the gold standard prevent financial? innovation so How in the world is the gold standard going to prevent financial innovation Steve Forbes And that was his response to know of course, but the gold standards not going to prevent How do you prevent financial innovation by making sure that your currency actually has value that makes no sense So financial innovation has been with us for hundreds of years in terms of new financial instruments I want to underscore this because that’s important that statement from 2012 to meet expanding needs as the global economy becomes more complex What do we have today? if not a new financial instrument digital assets are the new financial instrument and They’re here to meet the expanding needs of the global economy because the global economy is super complex So, I mean that that’s just unbelievable, let’s see time check here 908 so Going a little bit over an hour. That’s what these rants create I hope people go back and watch an hour video because there’s just packed filled with with so much important information man a Financial instrument new financial instrument. How about a completely new financial asset class? How about digital currencies? Oh, it’s unbelievable. Right? So here we are 2012 What’s the mindset of this interviewer because the mindset of this? interviewer is the mindset of these people that are in government right now and and these others that are really trying to suppress our innovation Has anybody seen what happened in Venezuela over the past 10-15 years? Have any of these government? elected Officials have they ever gone to Cuba have they really gone to the streets? Have they gone to Venezuela? I Know quite a few people who fled Venezuela because it’s no longer safe over there I know people who are sending boxes upon boxes of the most basic Essentials to their families in Venezuela because they can’t get them right now because they’re not available. I Know doctors who have fled Venezuela because it’s no longer safe over there for their families Babies are dying in Venezuela because of this same thought process because of what’s happening in government where they say let’s tax the rich Let’s take away their right let’s that’s in infringe on their rights to protect themselves Let’s infringe on their rights to make more money. Let’s infringe on their rights to to make sure that their families Okay, nope, because they don’t care because in their mind redistribution of your wealth is all that they care about Unbelievable, you know, I mean Again, I’m not trying to offend anybody if you have if you have a difference of opinion, that’s great. You know, this is a Bipartisan issue we’re talking about economics not talking about politics talk about economics We’re talking about the well-being of our families Not I don’t not the well-being of the government I don’t care how much the government gets paid there get there way way way way overpaid Unbelievable, really so Again, so now Steve Forbes continues with this I’m wrapping this up so high I promise we’re already at the one hour plus mark um and if gonna continue, you know doing this on a regular basis I want to have some expectation at least to respect everybody’s time that’s tuning in as well But many of the innovations and this is Steve Forbes again many of the innovations over recent years however have come about in response to the instability of the dollar and other currencies digital assets Perfect. Um, it’s unbelievable Sorry guy candy, I can’t say you guys keep talking amongst yourselves. I love it. I Wish I could do two things at once Hey CAK, glad to see you on a lot of great people tuning in here So I know I’m probably losing some people we’re going a little bit too long But again, Steve Forbes many of the innovations of recent years However have come about in response to the instability of the dollar and other currencies Maybe he was already talking about Bitcoin at that point 2012 I’m sure he probably knew about it which has increased volatility in currency and commodity markets New instruments have been designed either as insurance against volatility or to take advantage of it new instruments Maybe he knew about Bitcoin and digital assets at that time If you had stable money there would be much less hedging and financial speculation and that all of the economy has become over over many many years He can’t point the finger to one individual that’s responsible for it But I do know that there are those that are trying to put our economy back on track To be the strongest economy in the world Once again, that’s actually backed by substance Your economy has to be backed by substance the would the first thing I learned in undergrad in economics. I remember my Economics 101 or whatever it was He talked about the donut theory And the donut theory is if you think about a circle At the epicenter of your circle is product is production manufacturing all of all of the the important aspects of The society and then you have the services and then you have everything else around it if you take out manufacturing you have the donut You take out production innovation, whatever it might be if you remove that you have a doughnut your entire economy collapses because now you’re you’re just a Service-oriented consumer based economy, which the US has become for many many years and now we’re trying to drive manufacturing back We’re also trying to bring and protect the innovation of our technology So this donut theory was way before the invent of that before the invent of of the Internet We saw the internet revolution in the 90s. That’s awesome All right, that’s a means of production. That’s not just service that that’s creating something of value. Although it’s in the digital sphere but the digital asset space blockchain technology is so vital right now and the US government right now is squandering this opportunity if they don’t step up and vote on these bills that are being proposed by amazing congressmen and Congresswomen but primarily That those that are proposing the bills So anyhow now this next question I I promise we’re getting we’re getting towards the end of this article as we go through it But the next question I find interesting because it truly shows The need of a government To maintain ultimate control over a currency with nothing backing it up and nothing to answer to control the money value Control the people right? Here’s there’s the question. I think it’s interesting What do you what they ask you can government’s function under the gold standard? What does that even mean Kanaka the government function under the gold standard, you know your your currency is now valued based on something If you create whatever amount of money you you want you control the people because you devalue what they earn you you basically control rampant inflation and Again, 50 cents versus a buck 50. That’s what the government You know does when when they manipulate the amount of available fiat currency? That’s backed by nothing though can government’s function under the gold standard. So Steve Forbes says Certain countries feel free to spend money whether they have it or not Right. That’s that’s an amazing statement Spend spend spend spend You know hit so that that’s the government’s idea to everything. Let’s spend more money Fiat money, which can just be printed up has disguised the real cost That’s interesting again 2012 Fiat money that can just be printed digital asset can’t just be printed We know exactly how many digital assets there are or how many xrp there are we know exactly how much Bitcoin is in circulation? Maybe we don’t know exactly because of ton of it’s been lost But we know the max cap of what was there at least same thing with XR P. We just saw I think 26,000 bitcoins were lost by that exchange up in Canada 26,000 of them. So how many times does that have to happen, you know? Uh-huh. So again He continues we would never have experienced the kind of government Borrowing we’ve had in recent years if we’d had stable money the gold standard would keep the government honest honest government It would have thought right that that makes a lot of sense I’m this article keeps going on and on this is amazing stuff Doesn’t the government deficit spending smooth over recessions. The bottom line is for the you the bottom line for the US Is that a weak dollar means a weak recovery. We had a weak dollar for for many years and we had a strong dollar It’s all manipulated Stability is good for the economy The simplest thing to do is relink the US dollar to gold or in our argument a digital asset right digital gold now here’s here’s really a this is this is really the At the top of this argument, right? Harris says wouldn’t that wind that tie the hands of the Federal Reserve so Steve Forbes responses tie their hands to do what? Further harm the economy. I don’t think that’s such a bad thing. That’s Steve Forbes response, right? Then Harris says how would real ink in the US dollar to gold work? And this is where Steve Forbes and this is I’m going to wrap up going through this article But this is Steve Forbes says you simply peg the value of the dollar to gold. That’s it. So let’s talk digital gold We’re gonna peg the dollar to a Bitcoin take it to a basket of digital assets. It’s so simple, right? Let’s say this Steve Forbes now Let’s say for argument’s sake you peg the dollar to gold at Sixteen hundred dollars per ounce and I believe that’s where it had been during the gold standard I figured I would have to look it up if gold goes above sixteen hundred dollars you tighten up on money circulation a money creation if Gold goes below sixteen hundred dollars you ease up? You let you let additional money be made. That’s how you manage the balance based on supply versus Quantity that’s being held supply of fiat currency You keep it around sixteen hundred dollars by tightening or easing up on money creation The gold standard doesn’t preclude a booming economy Having more money or a stagnant economy having less money that steve forbes. Awesome phenomenal that it’s just so telling 2012 is seven years ago. He was talking about this There’s so many that are proponents of moving to a gold standard We saw some of the things he said to me maybe you know, he was aware of what was happening moving into this digital asset space as an innovative class financial Class being again changing because there’s so much that needs to happen and really my point in my point of going over an hour We’re at an hour twenty but the point of going through all this is that there is a good rational thought process We’re returning the US dollar to being backed by gold. However gold is not limited in resource Its artificially limited by production of removing it from the ground gold is controlled right now globally by different nations Maybe gold isn’t really the right decision but digital assets digital gold like a Bitcoin at XRP are 100 percent limited in quantity bitcoin has the fundamentals made as a store of value a store of value and not Immediate for immediate transaction we talked about that xrb has the fundamentals for being used for large scales Transactions and being used as part of the ripple net solution as well as the quarter solution Which is and will be used by the largest banks in the world and the largest financial institutions in the world for payment settlement and for liquidity No pegging the US dollar to the XRP would help facilitate a specific set price for XRP I think that would be obvious which in turn would help with the provision for liquidity needs for banks conducting cross-border payments and you know overall for the for the price of of settlement now in order to avoid Potential manipulation for outside forces that would try to buy up as much as they could of that digital asset now That’s not to say that countries out. There aren’t hoarding US dollars because they are our US Dollars are being held in mass quantities by foreign companies by foreign countries Our debt is being held by countries like China so But where’s the argument to say that a digital asset could be? Manipulated any different than a fiat currency because we’re talking about huge amounts of it in Terms of value only a country could be in a position then to manipulate or maybe a huge number of banks So if there is some scandal out there, but an individual wouldn’t be able to hold enough in value potentially, um, so there’s obviously a lot of things then in play here ripple is sitting on a ton of digital asset of XRP that could easily be moved to a Government-backed solution for a digital asset backed USD so that’s something to think about a basket of currencies and XRP it could be a Bitcoin X repeat like coin some of the top basket currencies that are really out there right now that Have top utility opportunity So again, we could we can potentially coin this phrase. I don’t know digital gold standard back in the u.s Dollar buy a basket of digital assets so man This is uh, this is a great great live stream and I just had so many thoughts to just pump out I’m glad that you guys tuned in. I’m glad that you guys stood by and listened to some of the rants. Uh-huh Good joining me up for this topic on on an early morning I don’t know how many from the from the west coast could jump in I think see aka I think you’re a couple hours behind, you know But I think with people and and other parts of the world you guys Joined in was a little bit later for you guys. It’s awesome I’m gonna go through I’ll wrap this up at the bottom of the hour here at 9:30 got some other Places I got to get to as well I’m sure you guys do but let me go through and and look at some of the comments Questions. Let’s see if we can come up with one thing to kind of round out the the half hour here Brande boxing says how much wood 1xrp be worth in u.s. Dollar if it was pay I honestly, I Couldn’t even answer that. Hopefully a lot. I don’t know honestly, I don’t know Oh if it was a I I think it’s via flip the other way around if it was pegged to the dollar Yeah, I don’t know. I’m not that’s a great question I don’t know that that I can answer that question, but this is kind of in that direction Rob cash We won’t have to depend on the petrol deal and war for a strong dollar. That’s that’s a good point there, too Let’s see. Let me go through. I’d like to get something Seems let’s see Neptune ripple have been working with all the big policy makers like the White House for years was XRP designed to be the goal that That’s a great neptina and that that’s what I’ve been thinking. You know, I mean, that’s amazing You see if you looked at that interview the other day with with a guy from Swift and and and Brad Goering house from from ripple and and you see Brad sitting back, you know, he’s just so nonchalant, you know and the guy that the the guy from Swift, um, He just seemed like he was super nervous you know and and and he was stumbling over his words and repeating himself multiple times Either he wasn’t prepared which happens, you know I’m not gonna discount that you’re in front of a crowd in front of a camera you can get nervous um, but yeah, you know, I mean it could be uh, But but at the same time with Brad is just so calm. He seems like he knows exactly Other direction, I mean, that’s a good You know good vision of a of a leader That that he’s super confident in his product. But at the same time his confidence must come from somewhere. So um Again, let me see here five minutes and we’ll wrap it up. That way. You will kind of clean it up Rob. Thanks for joining Oh You’re at work I know you guys probably got hammered up there with snow still right man. I’m glad I’m in the south. I Don’t miss the snow and the cold weather at all so Let me see here. I’m just scrolling back up here to see if there’s anything that we can cover to wrap it up Let’s see All right, I mean there’s there’s tons and tons of stuff that we can go through here But again, I truly appreciate you guys joining on for the chat I’m planning on every Saturday 8 a.m To do a live stream Different topics again, this is Jeff with the the huddle report if you guys have any Any specific requests of topics to be discussed on the live stream. I’m still going to put out videos during the week Still going through and really testing out exactly how to manage the live stream Totally enjoying it. I Love the the feedback that I’m getting. I hope you guys are enjoying it as much as I am And so don’t forget to give some thumbs up for the channel for the video if you’re on and you haven’t subscribed yet go ahead and subscribe if you know anybody that needs to learn a little bit about The digital asset space and join in on the morning crypto. Let’s let’s get that going That’d be awesome. You know, I’d love to see more engagement here. And so let’s see here That’s it I got a I got a run so When I respect everybody’s time here, and I’m just going to wrap it up again I truly appreciate everybody joining in. I’m looking forward to seeing everybody on the livestream next Saturday Again, throw out some feedbacks There should be if you go into my channel, there should be an email Address there if there’s not send a comment here. I think I put it on there. Oh One last thing to Monday evening. I got to get this set up Not sure how I’m supposed to do it exactly but I’m going to be on the XR pizu I’m looking forward to that as a guest on the zoo. And that’s fantastic Those guys are doing an amazing job bringing the community together getting different youtubers on the video or on Their on their live stream. So totally looking forward to Monday tune in Monday Um, I don’t know what time it’s at So hopefully someone on the XRP zoo could give some feedback throughout a comment Here, so any help again? Looking forward to seeing you guys. This is Jeff with a hotter report Last note I put at the bottom. Everybody says it. Look I’m not a financial adviser I’m not providing financial advice. Everything that I say on here is strictly based on my own research my own opinions Um, you can do your own research and that’s it again Look forward to seeing on the next video until then keep on huddling your crypto

3 thoughts on “Peg the USD to XRP & BTC – a NEW Gold Standard”

  1. POTUS on the gold standard
    https://youtu.be/InSPuHpxTi0

    Iran is starting a digital token called the Paymen which digitizes gold, let’s see where this goes and how this pushes the west to act.

  2. What is the purpose of pegging an asset like BTC to anything when its so destructive to the Environment, will never scale and the cheaper they make transactions the longer the settlement as there will be no incentive to mine it? PoW is entering its death throws and don't even bother with Lightning Network, its Centralised, its Manipulated which is why in the US it will never get an ETF green light and it is more than susceptible to a 51% attack. I just can't see the logic in your click bait header. Oh shit thats right i forgot to add in GREED and profit at any cost. BTC to under 1k 2019. However, to your credit you did get it right with XRP.

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