Wall Street analyst Linda Jones has posited that Ripple could play a role akin to that of the Federal Reserve in an anticipated future financial paradigm. Jones articulated this viewpoint during a recent episode of the Good Morning podcast, where conversation centered on the BRICS coalition’s efforts to diverge from the dollar standard and the potential implications for the U.S. economy.
Jones contended that the BRICS coalition’s stance is not anti-U.S. per se, but rather against the hegemony of central banks and a single dominant currency dictating global affairs. She argued against the Federal Reserve’s current control over the global economy through the U.S. dollar.
Jones speculated on the emergence of a new U.S. currency, possibly backed by assets like gold. She emphasized the necessity of a financial framework supported by tangible assets, advocating a departure from the fiat banking system currently reliant on the dollar.
Fundamentally, the analyst advocated transitioning from the current trust-based system managed by central banks to a truth-based system characterized by transparency.
Regarding Ripple’s role, Jones clarified that this shift does not forecast doom for America. She highlighted Ripple, an American company, and its XRPL blockchain as pivotal in this evolving landscape. Unlike Bitcoin, which lacks transparent founders and a central contact point for issues, Ripple is backed by a known, audited, and accountable entity.
Jones humorously likened Ripple to a potential new Federal Reserve, underlining that unlike the current Federal Reserve, Ripple is privately owned and poised for future public trading.
Host Abdullah “Abs” Nassif recently shared Jones’s insights on the Good Morning podcast, where she underscored that Ripple’s position could bolster America’s leadership. She expressed confidence that the U.S. dollar would retain its value throughout the transition, framing its stability as crucial to national security.
Ultimately, Jones envisions a parallel financial system emerging on the XRP Ledger, accommodating various financial frameworks.
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