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Ripple/XRP-Ripple Board Member-SWIFT/75% Banks Pulling Out Of Correspondent Banking,XRP Price $13 - YouTube
Channel: Digital Perspectives
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welcome back to the show everybody we
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got a great one lined up for you today
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listen to this anja manuel of the ripple
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board
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speaks and you're gonna like what she's
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talking about and we got more clips from
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jerome powell
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and guess what else we've got
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we've got the phone number for the
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hearing today for ripple scc
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let's go ahead and roll that beautiful
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intro
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this is digital perspectives with brad
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kymes
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subscribe for new content notifications
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now here's brad kinds come on in
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[Music]
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welcome back to the show everybody you
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can follow me on twitter at backup
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bradley above and everything we're
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talking about here
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also follow us on digital perspectives
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news
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load there it is right there
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just did another live on facebook last
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night so make sure you check us out
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there give us a like and follow
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exclusive content there just for you
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guys look here
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1.307 trillion
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for the crypto market cap guess what
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20 billion dollars or so has just left
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in the last
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hour or two out of the space hello
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that's talking to me i don't know what
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it's saying to you but we're getting
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ready to look at some powerful stuff
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here in just a second here
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64.2 is where the price of xrp is 60
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cents right now
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low range is 5978 upper range 6273 we'll
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keep an eye on it
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let's start right here nasdaq listed bit
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digital is
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migrating 14 500
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bitcoin a asic miners
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from china to the us after china's
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crackdown on the bitcoin mining space
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remember it wasn't very long ago over 6
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000
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pounds worth of bitcoin mining equipment
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was sent to the state of maryland
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i'm still trying to track down who that
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was that got a hold of that
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who knows remember we do have some
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three-letter agencies here in maryland
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nsa being one of them you don't suppose
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they're getting into mining i don't know
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who it is i'm
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totally speculating there wild
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speculation well here's something that's
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not wild speculation i just went over
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the ripple board the other day as a
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reminder
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for anyone new or anyone who's been in a
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space a while
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there have been changes but this is one
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that's been on the on the board for
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quite a while now anja manuel
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and if you look at what she has done i
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mean it is just an impress everyone on
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the board is impressive
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but here just for a second former
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diplomat author and advisor on emerging
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markets how about that one
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anja emmanuel is co-founder and
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principal along with former secretary of
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state
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condoleezza rice former national
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security adviser stephen hadley
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and former secretary of defense robert
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gates
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in rice hadley gates emmanuel llc a
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strategic consulting firm
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that helps u.s companies navigate
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international markets
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i could go on and on and on her resume
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is remarkable
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well you're about to hear her talk and
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she is going to lay down some really
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incredible stuff here
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let's start with the 30-second mark i
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believe it is hearing from
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anja or anna however she says it manuel
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of the ripple board
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a ripple board member let's hear her
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talk right here and she's going to lay
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out what's going on
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and see if this doesn't line up with
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everything that is happening out here
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that we're seeing today
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go off video but i'm happy to pick up
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exactly where sandy
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left off because when you're talking
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about financial inclusion
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mobile payments all of those issues that
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sandy was just talking about
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china is in the lead you know we talk
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about the tech race with china
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in this area they are just ahead of us
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um
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sandy said that in 2017 something like
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22 trillion
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of transactions were done through mobile
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in china well last year it was over 45
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trillion
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dollars that's more than twice as much
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as when you add up
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all of the transactions that visa
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mastercard and paypal do
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that's an impressive number by the way
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that is just by comparison
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so china is clearly in the lead
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they've also done and it's gotten a lot
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of press recently
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they've just rolled out pretty much the
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first
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big country uh digital currency central
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bank
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digital currency the digital yuan and
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it's it's
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going pretty well they've done six or
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seven million transactions
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billions in r b value they're split
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testing phase
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it's an interesting system that's
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helped with finance exactly as sandy
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talked about
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many many chinese have
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bank accounts and this is one way to get
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them into the formal financial system
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this being china in an authoritarian
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country it also has a little bit of a
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dark side
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so there's no privacy at all all of the
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data is centrally controlled
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and the chinese central bank now with
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any transaction with the digital yuan
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has perfect insight into who is sending
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what to whom
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so that means no dodging the capital
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controls
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when people trying to get money out of
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china it means that you can discriminate
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against people
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if they're not high on this chinese
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social credit score
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you can surveil them financially all of
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those things that
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in the west we wouldn't really like but
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it's moving ahead and it's moving
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very quickly and an important piece of
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this
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the china digital yuan is that it also
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allows
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cross-border transactions so
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international payments exactly what we
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do here at ripple
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without touching swift or
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that's powerful listen to what she says
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here because this has been a narrative
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we talk about a lot on this channel
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as well as the incentive the pressure
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that's being put on the rest of the
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world
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by an authoritarian government like
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china
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releasing and moving out and being a
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first mover advantage here
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in the digital asset space with cbdc's
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the international correspondent banking
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system that is
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super important because through swift
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the us
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and the west has basically had
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a system
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[Music]
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if you don't do what we want iran or
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north korea
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you won't have access to the
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international banking system people
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won't bank with you
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well that is becoming less and less
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powerful partly through the digital yuan
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and partly through other innovations
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where people are just going around swift
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because it's
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slow and inaccurate in all those ways
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that monica and christina are about to
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talk about in bringing payments out of
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the digital era
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and just a reminder too you know it you
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know talking about using the digital
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wand
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is one of those assets that they could
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use to try to bypass the swift uh
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wire bank wire bank wire system and you
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know let us not forget that the brics
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coalition is brazil
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russia china uh india
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and africa right so that coalition
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and the strength of the digital yuan
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it's not
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just about china and their forward
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motion
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it's about the impact that they could
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have serving that coalition as well
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keep listening but this is a really key
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point
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because ripple is really at the cutting
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edge of this so you guys should all be
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really proud to work here
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you know 75 of big global banks
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especially u.s ones are pulling out of
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the international correspondent banking
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system
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it's whoa did you hear that number 75
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of banks are pulling out of the
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correspondent
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banking system how do you like those
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numbers because i like them a lot
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it's just too onerous the regulatory
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requirements
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are too painful and people say well it's
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not worth it why should i have a
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correspondent
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pair with uganda or ghana or you know
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chile why should first of all i'll just
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go to get back to this 75 percent of
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banks pulling out of the correspondent
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banking system
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the correspondent banking system is the
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antiquated infrastructure currently used
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on the planet for doing cross-border
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payments
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the willy-nilly spaghetti bowl of
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getting payments done
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and you never know where the payment's
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going or where it's going or coming or
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when it's going to get there
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i have dealt with this wiring money to
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china as i'm dealing with manufacturers
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having products made in the past
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and let me tell you something to say 75
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of the banks are wanting or pulling out
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of the correspondent banking system
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that to me is a number that she is well
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aware of and that is a
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massive number let me just really
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quickly if i could you know
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you know in business if you want to
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incentivize somebody or you want to put
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pressure on a competitor
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you don't need a hundred percent of the
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market to do it
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hell i had a situation where i was
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contacted by the largest seller
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of beach equipment because i imposed
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10 percent pressure on their sales
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i had 10 market capture of their sales
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and i was talking within a handful of
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weeks
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with the owner and founder of that
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company
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75 percent of banks pulling out of the
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correspondent banking system
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is an incredible number
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change is going to come is my point and
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i think it's hers too
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should i bother and so new innovations
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like the chinese digital yuan like the
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big
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payments platforms in china could take
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its place
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on the u.s side what do we have i mean
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if we had national champions in the us
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which we don't of course ripple would be
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it you know we could be
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on the really positive side of this as
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we start gaining traction
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as and i don't have to tell you all
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because you work here and you help make
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this happen every single day but
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we're designed as capable of disrupting
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illicit transactions we do full
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aml i see we can
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counter corruption in developing
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countries because
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instead of sending cash people are
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sending things assets digitally
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we're helping with financial inclusion
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all of that while safeguarding
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um privacy and what's stopping us in the
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u.s
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i think through no malicious intent
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but if you look at the maze of people
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who regulate
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people like us fintech companies banks
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etc
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cryptocurrencies it's very unclear
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there's an alphabet soup of u.s
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regulators working with this
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none of them coordinating very well and
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most of them not very well
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versed in these new technologies or
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um understanding of this global reality
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that sandy and i just laid out
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and there you have it and what i want to
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remind people is is that
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you know but there is backdoor meetings
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and things happening we just learned the
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other day that
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you know there's a taxonomy act it's
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moving back door through the
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uh through congress and we know that uh
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elizabeth warren has publicly come out
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and ask gary gensler say you know
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i'm paraphrasing what's your wish wish
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list is for cryptocurrency regulation
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you better get it to us because
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something is about to come out
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and and when when is that i don't know
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and i don't pretend to know
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but i do know that it is taking place
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and there and you listen to the power of
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what
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china is achieving with the digital yuan
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the united states and other governments
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around the world
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will not sit back and let that run and
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run idle
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while this remains out front you can bet
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your bottom dollar on that
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now here's jerome powell and some more
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comments these are different comments if
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you saw the video from this morning
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these are different comments you're
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going to hear from jerome powell from
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the fed
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about digital currency and stable coins
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let's go ahead and take a look at this
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and don't forget i'm about to share with
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you the information for the sec ripple
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hearing today
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at 3 p.m stay with me here jerome powell
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head of the fed on tether
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ladies and gentlemen remember finance
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the world's largest exchange
[749]
catching a lot of shade right now from
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countries around the world
[754]
i don't think these things are mutually
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exclusive
[757]
change is going to come you can feel it
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thank you
[760]
i want to switch to uh stable coins and
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pick up words from the country left off
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specifically on tether
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so in recent months there's been
[768]
increased scrutiny of the stable
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coincidence due to concerns regarding
[771]
the assets backing the coin
[772]
particularly the amount backed by
[774]
commercial paper as opposed to us
[776]
dollars what the original said
[778]
um president rosengren has said that
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you know tether does create a challenge
[782]
that we need to take seriously what
[784]
happens when people run
[785]
from these instruments very quickly do
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you share these concerns and
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is that the sort of thing that you'll be
[792]
uh looking at and providing guidance on
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with the white paper yes absolutely yes
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i mean
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commercial paper you know we're
[800]
short-term overnight obligations of
[802]
companies and most of the time their
[804]
investment grade most of the time
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they're very liquid it's all good
[807]
but in both of the last two financial
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during the acute phase of the crisis the
[812]
market just disappears and that's when
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people will want their money
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so um you know we i just it's very
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simple
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these are economic activities that are
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very similar to bank deposits and money
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market funds and they need to be
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regulated
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in comparable ways
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that's how i see it there you go
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now let's listen to the other comment
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here from jerome powell you wouldn't
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need stable coins
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you wouldn't need crypto currencies if
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you had a digital us
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currency oh really oh do tell
[846]
jerome dotel wouldn't you wouldn't need
[848]
stable coins you wouldn't need
[849]
cryptocurrencies if you had a digital us
[851]
currency i think that's
[852]
one of the stronger arguments in its
[853]
favor wouldn't there you go let's hear
[856]
it again
[857]
you wouldn't need stable coins you
[858]
wouldn't need cryptocurrencies if you
[859]
had a digital u.s currency i think
[860]
that's
[861]
one of the stronger arguments in its
[862]
favor and there you go
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and i think all of that really to be
[866]
honest with you
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is him you know in a roundabout way and
[870]
i'm
[870]
you know my speculation about his
[872]
thoughts and comments here
[874]
you know i believe they have it well
[877]
figured out how they are going to
[879]
frame this digital asset world this
[882]
isn't just about digital currencies
[884]
this is about digitization and
[886]
tokenization of
[887]
everything and i think they have for a
[892]
long time now
[893]
a at least a loose framework of how to
[896]
approach this
[897]
so they can frame it all in through
[900]
regulation
[901]
through a distribution network whether
[903]
it be broker dealer or otherwise
[905]
and begin to rein in this new emerging
[908]
asset class
[909]
to really introduce it to a real
[912]
regulated
[913]
asset class just like metals just like
[916]
stocks or bonds or any other products
[920]
that are offered out here in the world
[922]
now with that being said let's take a
[924]
look at this really quickly
[926]
this gentleman here jd says and it's
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funny
[929]
targeting 13 dollar xrp say
[932]
what what
[936]
bring that on and he's got this looking
[939]
like somewhere around
[940]
you know the first quarter or so of 2022
[943]
and i got news for you i've made room on
[946]
my calendar for this
[948]
it's wide open bring it on baby
[952]
yeah and it's funny because we've seen
[954]
dark defender we've seen many other
[955]
technical analysts
[956]
share this number so something about the
[959]
charts they're using
[961]
putting a lot of these technical
[962]
analysts in the same position where they
[965]
see
[966]
between here cell targets between 13 and
[969]
50 dollars
[970]
you can see right over here and that is
[973]
pretty damn remarkable right there
[975]
so s i don't know what goes on i'm not a
[978]
chart expert but i appreciate all of
[980]
these technical analysts out here that
[981]
share
[982]
their findings and what they see on the
[984]
charts and i
[985]
find it really really to be strong data
[988]
when you see so many different technical
[991]
analysts
[992]
arriving at the same place when it comes
[994]
to xrp
[995]
price sooner or later all right now
[998]
here's what you've been waiting for
[1000]
james rule xrp and james k filing thank
[1003]
you to the both of you for sharing this
[1005]
the ripple versus sec here sec hearing
[1007]
today at 3 p.m eastern time
[1010]
reminder don't record it don't youtube
[1013]
stream it
[1014]
it's against the law and here is the
[1016]
information
[1017]
and the number that we all need and
[1019]
matter of fact i'm going to write it
[1021]
down right now for myself i haven't even
[1022]
had a chance to do it
[1024]
i told you we'd bring this to you as
[1025]
soon as possible and that's how
[1028]
quickly you got it i got to write it
[1030]
down too
[1031]
don't forget the access code as well
[1032]
ladies and gentlemen you'll need that
[1034]
and i will hopefully be able to get in
[1037]
and reserve my spot before it starts
[1040]
this could reveal a actual judgment
[1044]
in the hearing we haven't had that
[1045]
happen as of yet really
[1047]
so this could be an exciting hearing
[1049]
today let's see what happens
[1051]
that's gonna do it for me ladies and
[1054]
gentlemen check out all the links in the
[1055]
description box and the comment section
[1057]
i trust capital is the best crypto gold
[1060]
silver ira
[1061]
tax deferred tax free however you want
[1064]
to do it
[1065]
they can make it happen for you and if
[1067]
you have a crypto ira where they are
[1069]
drilling you
[1070]
on fees and and commission then you need
[1073]
to look at moving it over to itrust
[1075]
because you can do that
[1076]
for no cost at all that's gonna do it
[1079]
for me i'll catch all of you
[1081]
on the next one
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