I think it is widely known that governments want to issue a digital currency. In fact, once the next crisis occurs, credit will freeze and people will not have access to their money. Enter the government. They introduce a digital currency and people will accept it because they will be angry demanding access to their money. Government can also use the "bank run" excuse to go cashless, meaning if they do re-open the banks, people will line up to take out their cash and you would get bank runs.
Why do they want a digital currency? Simple. Tracking money for taxation. Especially for small business'. A lot of small business' can use loopholes to move cash (ie: pay a family members, buy assets etc). It is also a way to tax tips from restaurants and also tax private transactions such as private jobs or selling things on ebay or craiglist.
If we go down the path of Modern Monetary Theory or Universal Income, we would require a digital currency for smooth operations. Even the socialist economists know that if you increase money supply without increasing PRODUCTION, you have people with more money competing to buy the same number of products and services...prices will go up to eliminate any benefits from extra money. The solution? Taxation.
The government takes the role of the central bank. The MMT school knows that government will have to remove excess money supply, and they will do so through taxation.
Back to Ripple. It always gets the name of the banker coin. A lot of the true crypto enthusiasts hate it. Ripple pretty much has a partnership with every bank in every major countries. I have even spoken with bank managers telling me how the bank was very negative on the crypto bull market...however just recently they have begun to implement systems for a digital currency. Again, this is coming.
So let us consider this new theory. Could Ripple be the new SDR?
The next crisis may involve governments having to be bailed out as well as the banks. Who can do this? The IMF and the World Bank. What is a quick way for them to do this and ensure a digital currency takes place? Use Ripple (or maybe they have their own coin already, just use xRapid).
Why Ripple though? Because it is sort of like fiat. You can create as much of it as you want. The IMF will say each Ripple coin is worth say 100-1000, and then send this to governments or banks worldwide. Instant liquidity. The reason I say SDR is because it technically is the IMF currency. They can just use Ripple and rename it SDR or IMF coin since it meets their requirements and promises a digital currency.
Now ask yourself, if the banks know many people own Ripple...would they use it? It really is the xRapid system that they will use...perhaps already have their own coin.
However, I still believe we will see a large surge in cryptocurrencies as well as precious metals as a confidence crisis in government, in banking and in fiat currency looms. Human history since 3000BC is cycles of hard money and soft/fiat money. These cycles keep repeating. The Keynesian economists (modern day mercantilist economists) believe they have found a way to prevent recessions and ensure total prosperity...but they cannot admit they are wrong. Their excuse is that they did not do enough. We did not cut more rates or further negative in the case of Japan and Europe. We did not print enough money. This is the confidence crisis.
So as a trader, this will be a golden age to profit from active trading. We are about to see an amazing once in a lifetime wealth transfer.
Why do they want a digital currency? Simple. Tracking money for taxation. Especially for small business'. A lot of small business' can use loopholes to move cash (ie: pay a family members, buy assets etc). It is also a way to tax tips from restaurants and also tax private transactions such as private jobs or selling things on ebay or craiglist.
If we go down the path of Modern Monetary Theory or Universal Income, we would require a digital currency for smooth operations. Even the socialist economists know that if you increase money supply without increasing PRODUCTION, you have people with more money competing to buy the same number of products and services...prices will go up to eliminate any benefits from extra money. The solution? Taxation.
The government takes the role of the central bank. The MMT school knows that government will have to remove excess money supply, and they will do so through taxation.
Back to Ripple. It always gets the name of the banker coin. A lot of the true crypto enthusiasts hate it. Ripple pretty much has a partnership with every bank in every major countries. I have even spoken with bank managers telling me how the bank was very negative on the crypto bull market...however just recently they have begun to implement systems for a digital currency. Again, this is coming.
So let us consider this new theory. Could Ripple be the new SDR?
The next crisis may involve governments having to be bailed out as well as the banks. Who can do this? The IMF and the World Bank. What is a quick way for them to do this and ensure a digital currency takes place? Use Ripple (or maybe they have their own coin already, just use xRapid).
Why Ripple though? Because it is sort of like fiat. You can create as much of it as you want. The IMF will say each Ripple coin is worth say 100-1000, and then send this to governments or banks worldwide. Instant liquidity. The reason I say SDR is because it technically is the IMF currency. They can just use Ripple and rename it SDR or IMF coin since it meets their requirements and promises a digital currency.
Now ask yourself, if the banks know many people own Ripple...would they use it? It really is the xRapid system that they will use...perhaps already have their own coin.
However, I still believe we will see a large surge in cryptocurrencies as well as precious metals as a confidence crisis in government, in banking and in fiat currency looms. Human history since 3000BC is cycles of hard money and soft/fiat money. These cycles keep repeating. The Keynesian economists (modern day mercantilist economists) believe they have found a way to prevent recessions and ensure total prosperity...but they cannot admit they are wrong. Their excuse is that they did not do enough. We did not cut more rates or further negative in the case of Japan and Europe. We did not print enough money. This is the confidence crisis.
So as a trader, this will be a golden age to profit from active trading. We are about to see an amazing once in a lifetime wealth transfer.
