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Welcome back to the show everybody check Out these headlines ladies and gentlemen A backdoor regulator halts us crypto Industry we got that and so much more Somebody roll that beautiful Intro digital perspectives with Brad KES Come on In welcome back to the show you can Follow us on Twitter and YouTube for Exclusive content right now $ 1.74 Trillion market cap for crypto the Market is up 3.2% the last 24 43,4 plus for Bitcoin right now up 12.3 On the 7day 2,300 Plus for ethereum up 5.4 on the 7 Day tether market cap 96.1 Billion plus right now xrp is 52 cents At the number six spot up point4 on the 24hour up 4 and a half on the 7 day now Very quickly if you guys hear my nose Sounds a little different or my voice Sounds a little different I had a uh Surgery done yesterday after I got my Videos done I went in that's how we do It here we can't stop working right Everybody needs the news and the Information we're going to make sure That you get it no matter what and you Know what I had to get a deviated septum Corrected so it's probably going to Sound like somebody well I can tell you What it feels like it feels like Somebody hit me in the face with a Bulldozer but or like I walked into the Ass end of a ladder right but at the end
Of the day it'll be good a a couple days It'll go away but until then it's going To sound like I've got a clothes pin on My nose right so uh forgive me for that But we move on but I tell you this it's Miles Franklin precious medals ladies And gentlemen the best place for Physical gold you want physical gold This is where you want to get it right Here all you got to do is is email them Use the email underneath of this video And in the subject box put dig gold dig Gold make sure you get the best service Best prices no question about it soon as I get it and I tell you about glint too Glint pay baby buy save send and spend Real gold instantly with glint and that Is going to be very pertinent in this Video while you're hearing about those Two because we know X is constantly Moving forward to make the platform a Super app by integrating payments inside Of the social media app Twitter now Known as X they've just been reward wed Another trans money transmitter license In Nevada now things are growing quickly I want to play this Quick Clip here About how Texas is proposing a goldback Digital currency and this is very Interesting because as you listen to This I want you to understand that uh It's also known that glint pay was Mentioned on the Texas state house floor As well as a viable solution for gold is
Legal legal tender too Because glint has made gold spendable Like cash and it's not tokenized it Doesn't need to be tokenized they've Already done it so this is quite a thing But take a listen of this before we move Into the rest of the news here in early May a bill was proposed to the Texas Senate about a new digital currency that Will be backed by Texas Gold Senate Bill 2334 which is a very interesting Designation would establish a new gold And silver based digital currency and This would come through the office of Texas comproller of Public Accounts each Unit of this digital currency will be Backed by a fraction of a troy ounce of Gold or silver which will be held in a Trust which will allow individual Accounts to be created through the Texas Depository excuse me the Texas bullion Depository which was established just a Few years prior this state cbdc was Introduced around the same time that the Senate introduced a bill to reject the Federal Central Bank digital currency so In other words Texas is looking to to Establish a state cbdc in Li of a Federal cbdc and I tell you and I Totally get why they're doing that Because we know that we don't want the Federal Reserve to be controlling a Direct issuance to the citizens of this Country the Federal Reserve is not a
Branch of the government it is a Privately owned Central Bank and we do Not that first of all that should have Never been put in place the way it was Put in place that's a conversation for Another day but the you know this young Man's got it right right here right no Question about it and Texas is Definitely on to the right path but They're not the only ones that are Moving we're going to keep an eye on it And speaking of look at this from Juan Leon very quickly here how many Institutions does it take to turn on the Mainstream crypto light bulb and this is Basically showing crypto adoptions by Institutions and showing a long list of Banks right they're coming ladies and Gentlemen what we're missing make no Mistake everybody wants to turn it into To something else but it isn't it's not Because we need Developers it's not because we don't Have enough developers it's not because There's something wrong with The xrp Ledger it's the fact that the United States government has been suppressing Xrp and ripple through regulatory Capture of A Little Agency known as the SEC that's what I believe I believe it Involved Jay Clayton I believe it Involved Bill Hitman and others inside The SEC and then it carried on over to Gary gendler as
Well he pulled his little Houdini Routine and did a 180 from MIT to his Current stance at the SEC Now regulatory Clarity and legislative Clarity is going to set this Market Free and you will see evidence of that As soon as we get that clear defined Legal Clarity and laws in place you're Going to see just like you saw the fake Free pass launch thousands of projects Worth billions and billions and billions Of dollars off of the ethereum network With a fake free Pass now let's listen to a very real Conversation right here representative French hill and Jim Hines take a listen To what they have to say about crypto's Future this is very very Important you've touched the International finan cial system and done Various policy related uh work in that System how do you see all of this Playing out internationally uh the Chinese interest in their digital wand Um the the bank of international Settlements has the mbridge project Which is trying to you know innovate Around the use of stable coin for Settlement and crossborder payments Quick reminder mbridge is uh xrp Ledger Is one of the prototypes or Pro pilot Projects not prototypes pilot projects Being tested in mbridge by the bis and Ripple is also joined the bis task force
For crossb payments as well um you have The bricks plus even talking about using Digital currencies to displace the Dollar how are you thinking about the International aspects of the evolution Of this technology and how even our Adversaries are thinking about It um well you again I'll say what I Said before which is you you you you'd Much rather lead on Innovation um than Follow uh if for no other reasons than For economic reasons um and you know I Think there's a little bit of a Snowball Effect Innovation attracts Innovation And so it would be a real shame to wake Up and discover that you know the Innovation was happening in the Gulf or In Europe and this was actually I wrote A white paper on cbdc which I know is You know dra you know become very Political since but my view on cbdc was I don't I don't know if there I don't Know if it's going to be appealing to That many people but wouldn't you hate To wake up and discover that there's a Sterling or a euroc cbdc that Everybody's using as a payment mechanism So why not keep keep keep the work up um And and so yeah I mean I really hope That this this is the whole reason we're Doing what we're doing to to try to make Sure that we don't sacrifice our our our Traditional Innovative Edge I do take a Little bit of a realistic view of you
Know I mean there's the there's these Thesis that are floated that you know if There there's going to be some stable Coin or some payment mechanism or store Of value that is going to displace the Dollar not quickly not I mean there's Lots of fundamental reasons why people Keep the reserves that they do that have Everything to do with the waiting of Their trade um with the long-term Perceptions around the dollar I don't Worry too much about the Chinese cbdc I Mean I think we all know what that is Designed to do and I if I for one I'm Not signing up for it so um again I I I Think that some of the concerns are a Little bit overblown but why would we Not do what we need to do to continue to Be at the Forefront of innovation well I Think I think a a payment stable coin uh Converting Fiat US Dollars into a stable Coin that's well regulated well Considered with a fine reputation and Excellent transparency and oversight and Capital standards will be the uh buyer At the margin of short-term treasury Bills that's good for the dollar it's Good for international trade it's good To go to a tokenized digital payment for A blockchain just like we prefer to use A real-time payment in the banking System or an A in the banking system and Let me let me share when when group of Companies uh countries goes to a
Conclave for which their government's Paid their travel expenses and they sit Around and it's a group of country Companies that don't have a fully Convertible currency they don't have a Rule of law they don't have a court System they don't have a transparent Well regulated economy and you tell me You want them me to take their cbdc or Their stable coin count me out count me Out it's ridiculous you can't go to Court and get your money back in China You can't go to court and get your money Back and half the countries that were Quote in the announcement about the Bricks hello so I don't recommend that As a business strategy and I don't think Realistic people at the consumer level Or institutional level will either um That doesn't mean though we don't need To be doing things that preserve the Importance of the dollar as the reserve Currency in the world and one of them Might be balancing the budget for Example or having a more mature approach To our federal Finance first and Foremost and then secondly if we Maintain an excellent legal system if we Maintain the right regulatory system if We have an open Capital Market and if we Have a dollar based stable coin listen Then I think that's the the right Direction for that long run and then We'll see how technology evolves right
You know this is sort of your point About your white paper let's kind of see Where the technology evolves but the Private sector should uh be the leader And what our job is to provide the the The ways and means and the conditions of Of a fair-minded open regulatory Framework and get out of the way Absolutely no doubt about it but he does Mention in there that you know the Stable coins could really act as a Buffer to any problems that you have With the dollar I'm paraphrasing right But what I want to show you if all else Fails and isn't this what I've been Suggesting that if we look at the Stablecoin legislation when it finally Does come out and pass right if they Allow private issuing to a great degree From multiple different institutions Bank of America Wells Fargo PNC this one That one that one this one they allow All of that then you're creating a new Use case to soak up the treasuries That's what he was Saying there'd be a great new demand for Us Treasuries and if there's hyperinflation As a problem at the same time this new Use case of backing stable coin coins Will create a new demand and act like a Sponge to be able to soak up these Hyperinflated dollars to provide you With the proper backing of an actual
Stable coin that is a Dollar keep an eye on It if all else fails to plan a for Setting up stable coin rules with Legislation and industry's Republican Allies in Washington have revealed their Worry the Federal Reserve could step in Well backdoor regulatory option halts The US crypto and what are they talking About oh it's the same thing that Brad's Been talking about for years two to Three Years Fock probably closer to three Years fsock can tag companies with Systemic risk labels that saddle them With tremendous new restrictions and Crypto sector has the council's Attention are you are you hearing this With me we have been mentioning this as For three Years this you know again don't let a 4 And a halfy year crypto winner change The Script we're waiting for the same Thing now they're telling you Congress Is saying step off fock we got this and Fso saying well maybe you Don't right that's what we're talking About here be look at any time the Council it could decide that one of the Giants in the digital asset sphere say Stable coin issue or such as Circle Could W wound The Wider Financial system
In the event of failure something akin To the American International group's Role in the mortgage collapse of 2008 you see that Motive reason Justification Validation how many times have you heard Me say that they could put credential Regulation using fso and certainly Through Congress as well it's Obvious and decide that stable coin Issuer circle is the one that's going to Be the retail facing digital dollar Which has already been out here for Years it's done over a trillion dollars Worth of transactions if not three Trillion I can't remember the number but It's in the Trillions this Is how the United States could Potentially be leading this Innovation Race in the shadows without anyone Actually realizing It USD tether has partnered with the FBI And the Secret Service that may not go Away that may just get put under Credential regulation as well or maybe They force it to push it push the volume And everything else into stable coins of Circle I don't know But if you have that kind of demand for US Treasury bonds and you know Hyperinflation is a very real Possibility in the future you may want
To have as many stable coins that are Under presedential regulation as Possible to act as a sponge for these Treasuries and hyperinflated Dollars Because crossb payment using UAE digital Currency has started uh-huh and Basically in the amount of 500 million Durham sent to China they're saying the US dollar is on its way out calling it a Death currency xrp is a global Bridge Currency and basically suggesting here That the UA UAE achieves a Groundbreaking feat in this digital Finance by executing its first crossb Payments using digital Durham this Landmark transaction conducted on the Mbridge platform and I've already Reminded you that xrp ledger is one of The pilots of embridge if not the pilot Right it's at least one if not The the dollars Reign is the world Reserve currency is nearly over says Dick Bo dick Bo here uh making the Comments newly retired Bank analysts Blamed corporate offshoring and flagged The threat posed by China with a digital Yuan and everything they've been doing Working with bricks and the Coalition but we have to be concerned About a bigger issue It's project Sandman which is more than 100 Nations around the world in fact Agreeing that they want to
Simultaneously at some point in the Future dump the US dollar and the Bonds that that's what project Sandman Is about it is literally about dumping The dollar dollar simultaneously going To their local currencies and eventually Graduating to a bricks currency back by Gold that's that's the plan but listen To here to Echo X lay it down for us All what is Project Sandman project Sandman is a coordinated attack planned By the brick countries on the United States the kill shot is going to include A coordinated selloff of at least two Plus trillion dollars in treasuries Which will collapse the United States Debt Market followed by the stock market Shortly thereafter these events will Freeze the US economy and obliterate the Value of all Fiat US dollar denominated Assets uh most of the trigger conditions For Sandman trigger have already been Met one of them was the Petra dollar Advocation basically Saudi Arabia no Longer requiring the dollar for uh uh to Buy oil another one is basically uh Tensions between the United States and Russia and China uh with the outstanding Requirement would be an operational Bricks Reserve currency um basically Once the bricks Reserve currency comes Online then all of these things get met And all this all this all these Treasuries come back to the United
States and the and and it happens like On a Sunday night and then Monday Morning our way of life as we know it is Over and you know look I mean I don't Want to see some moment like that take Place right And maybe it doesn't maybe it doesn't Unfold that Way one of the things we have to be Careful of here is that regardless of The hype of a situation like this taking Place in the Future and we can't take it off the Table here's the other thing to think About currently right now those 100 plus Nations the majority of them the best Thing that they have in their portfolio Is us treasuries go sorry about that but Having mic issues the last few days and I don't know what the hell I got Gremlins in here inside my computer here But it starts right now we're going into The freedom Zone we're going to continue This conversation about bricks a little Further in here and Christine lagard as Well and the well I will explain it in The freedom Zone it's not Financial Advice or me or anyone else join us at Dig perspectives. comom in the freedom Zone come on In
