Wall Street Analyst Says Ripple Is the New Federal Reserve in the Emerging Financial System

Wall Street analyst Linda Jones has speculated that Ripple could play a role similar to that of the Federal Reserve in the envisioned new financial system.

Joanna expressed this sentiment in a recent edition of the Good Morning podcast. The discussion focused on the BRICS coalition’s efforts to break away from the dollar standard and the potential impact on the U.S. economy.

He argued that the BRICS coalition is not against the United States but against central banks and the dominance of a single currency that controls the world. He said the coalition opposes the Federal Reserve’s control of the global economy through the U.S. dollar.

Jones speculated that a new U.S. currency could emerge, potentially backed by gold or other assets. He stressed the need for a financial system backed by real assets, noting that the world must move away from the fiat banking system, which is currently based on the dollar.

In essence, the analyst advocates the transition from the trust-based system currently managed by central banks to a system based on truth and characterized by transparency.

Ripple is like the new Federal Reserve

Meanwhile, Jones made it clear that this systemic change does not spell disaster for America. First, he highlighted that an American company, Ripple, is at the forefront of this new system with the XRP Registry (XRPL) blockchain.

He explained that a new monetary system cannot function without accountability, contrasting Ripple with Bitcoin, whose founders are pseudonymous and have no central point of contact in case of problems.

Jones stressed the need for a known, transparent, verified and accountable entity behind such a system. In her opinion, Ripple meets these criteria.

In this context, the Wall Street analyst humorously stated that Ripple could be seen as the new Federal Reserve. However, unlike the current Federal Reserve, Ripple is privately owned and will eventually be publicly traded.

Abdullah “Abs” Nassif, host of the podcast Good Morning, recently shared an excerpt of Jones’ statement about X.

The analyst also noted that Ripple’s position would allow America to maintain its leadership role. Jones also expressed confidence that the US dollar would not lose its value completely before the transition takes place. He stressed that such a collapse would be a matter of national security.

Ultimately, the analyst sees a parallel system emerging where various financial systems operate on the XRP ledger.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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