The New Federal Reserve? Wall Street analyst Linda Jones weighs in.
Wall Street analyst Linda Jones pointed out that Ripple could play a role similar to that of the Federal Reserve in the emerging financial system. Jones revealed this on a recent edition of the Good Morning Podcast. The discussion focused on the BRICS alliance's efforts to break away from the dollar peg and its potential impact on the US economy.
The supremacy of the single currency!
She asserted that the BRICS alliance is not about the US, but about the dominance of central banks and the single currency that dominates the world. She also said the coalition opposes the Federal Reserve's control of the world economy in US dollars.
According to Jones, new US currency backed by gold or other assets could be issued. Jones emphasized the importance of a financial system backed by real assets, suggesting that the world should move away from a fiat banking system that relies on the dollar.
Analysts advocate a shift from a trust-based system run primarily by central banks to a truth-based system, which they distinguish with transparency.
She said that this change will not lead to the collapse of the US and that the American company Ripple is at the forefront of this new system with the XRPL Ledger blockchain.
She also explained that a new currency cannot be created without accountability, comparing Ripple to Bitcoin, whose founders are anonymous and do not have a central point of contact in case of problems.
The need for a responsible party!
According to the analyst, the importance of having a known, transparent, audited and accountable entity behind such a system is emphasized as these are the criteria that Ripple meets. Jones also jokingly added that Ripple could be seen as the new Federal Reserve. Still, she explained that unlike the current Federal Reserve, Ripple is privately owned and will be publicly traded in the future.
The Good Morning podcast host recently shared Jones' statement on X.
The analyst said that Ripple's position allows the US to take its leading role, and also expressed his belief that the price will not completely disappear before the transition to the US dollar. Finally, the analyst looks at the parallel system in which various financial systems are emerging with the XRP Ledger.
