Ripple/XRP-Death Of The Petrodollar=Rise Of XRPLedger, $6.6 Trillion Per Day,2023 Predictions
welcome back to the show everybody check out this for the 2023 first video of the year we're going to talk about where I believe things are going with ripple and xrp it is the death of the Petro dollar and the birth of xrp somebody rolled that beautiful intro [Music] digital perspectives with Brad kimes come on in welcome back to the show everybody you can follow us on Tick Tock YouTube and Twitter for exclusive content Happy New Year to everyone 828 billion dollar market cap for cryptocurrency it's off by point four percent Bitcoin 16 500 plus ethereum is just under 1200 bucks we see tether's market cap 66.2 billion they say xrp 33 cents this morning we're off by 4.3 percent on the seven day again happy New Year everyone if you have not done it check out my sponsor underneath the video glint gold is security and Glenn it's key use real gold as everyday instance secure and reliable money get your own MasterCard debit card to be able to use and spend your goal just like money and in uncertain times that we are about to talk about today trust me when I tell you you click that link and start using glint you won't stop it is something else take a control of your finances and your gold physically allocated gold I remind you click the link let's get into this we have a lot to do today again happy New Year it's 2023 I want to start with a couple events historical events and walk through why I believe this video really lays out where the world is moving to and yes we are going to talk about the death of the Petro dollar and the birth of xrp remember back in 2020 when oil for the first time in its history went negative in fact not only did it go negative it went negative plus 38 bucks a barrel negative more than 38 bucks a barrel negative for the first time in the history of oil oil went from being a commodity to a liability an asset to a liability that's what we're talking about why is that important it's important because of the Petro dollar agreement the Petro dollar agreement which was really achieved in 1973. after the Gold
Standard was dropped in 1971 by President Nixon why is all of this important well stay with me as we move through this I promise you I'm going to land a plane very quickly so we all level set this is a great piece by Tony Robbins and his team the Petro dollars are in the form of currency that is paid globally for oil the Petro dollar system is essentially the global practice of exchanging oil for US Dollars rather than other currency this means that no matter the country is buying the oil they pay the oil producing country in petrol dollars which are denominated in U.S dollars the answer to what is the Petro dollar has changed over the years as the Petro dollar system originally applied to Middle Eastern countries and members of the organization of Petra petroleum exporting countries known as OPEC but has been broadened over the years petrol currency is the main source of revenue for these countries we also have to understand what Petro dollar recycling is because the Petro dollar is denominated in U.S dollars the system means that oil producing countries end up with surpluses of U.S currency that need to be recycled back into the economy Petro dollar recycling can involve channeling these dollars back into their own domestic economies lending them to other countries or investing them in the U.S economy
countries can use them to buy assets and securities like treasury bills helping to keep interest rates and inflation low and allowing the countries to avoid currency conversion losses and risks now the history of the Petro dollar system the term gold standard didn't come out of thin air the global economy used to run on a system in which country's currencies was linked to the value of gold there was a fixed price for gold at which each country bought and sold that commodity the gold standard was abandoned in 1971 when Nixon Administration ended the practice and the value of the US dollar went into Free Fall as inflation soared in 1973 the Petro dollar system was created through a deal between the U.S and Saudi Arabia the countries agreed to price in trade oil in U.S dollars with oil standardized in terms of dollars any country that purchased oil from Saudi Arabia would have to use the US dollar this led many other oil producing countries to also standardize oil prices in U.S dollars and the Petro dollar system was born the answer to what is the petrol dollar may continue to change as the global economic landscape shifts Venezuela began selling its oil in other currencies in Saudi Arabia government has threatened to abandon the Petro dollars as the energy markets evolved the agreement that created the Petro dollar system may come to an end I believe we have more evidence today than ever that that is exactly what we're watching happen Stay With Me your drawbacks here uh the Petro dollar system gave the US dollar elevated status as the dominant currency in the global economy after coming off of the gold standard mind you this has many benefits for the U.S including consistent trade deficits and source of liquidity inflow of foreign Capital through Petro dollar recycling the ability to finance deficit with low interest rates assets decisive influence over global economic markets now the drawbacks the same elevated status for the US dollar is also responsible for the downside of the petrol currency the petrol system results in a catch-22 for the U.S dollar that causes uh it to
lose its status that could cause it to lose its status the U.S needs to run account deficits to maintain liquidity in a continuously expanding global economy stopping these deficits will slow down the global economy continuing the deficits may cause other countries to downgrade the value of the dollar what will happen to the Petro dollar system there are several Trends to consider when debating the future of the Petro dollar first continuing to run deficits has led to a loss in purchase power for the U.S dollar leading some Nations to begin losing faith in the system oh Stay With Me second concerns about global warming technology advancements towards sustainable energy are reducing demand for oil we know there's a green agenda out here right and the need for the Petro dollar system finally strained international relations with major oil producers like Iran Russia China are leading these countries to reconsider their dependence on the U.S dollar this is more relevant now than it ever has been in history many experts do believe the world will shift away from the Petro dollar system and towards more digital currencies which is why cryptocurrencies are so popular right now while it is unlikely to collapse overnight as this would cause a major global economic recession other currencies May slowly replace it leaving the question what is the Petro Dollar in the history books along with the gold standard you know as we look at this conversation and trust me it's going to get to xrp in a second remember that the Petro dollar was really after the Gold Standard was dropped in 1971. and remember it was the U.S government that sees all the citizens gold in the 1930s through gold confiscation in the executive order that's what we witnessed and it really did happen that's why you hear conversations from Jimmy Valley the confidential committee which I am a part of the reality here is that history has told us things like this have happened now a lot of people have a knee-jerk reaction and say wait a minute the government can't take my xrp it's decentralized Ledger and they can't take it and in the regards to technology that answer is true however in the regards of Regulation that answer is still open that question is still open that's why it's a very real conversation because we witnessed earlier in December of 2022 less than a month ago Bretton Woods Too ended today it was the beginning of the end on a public Global stage what we witnessed is Saudi Arabia making the agreement with President XI is in this picture for the first time to use the Chinese Yuan through the Shanghai exchange to buy and sell oil over the US dollar now I'm going to play a clip from you right here and this is Noah zerba a professor Global political or politics at California state Polytechnic in Humboldt I want you to hear what he says here which is a conversation we've had multiple times here about the cascading effects of a dedolarization campaign and the world abandoning the Petro dollar listen to this Quick Clip here so would a deal between Saudi Arabia and China be different on its own probably not Saudi Arabia's annual oil sales to China amount to about 8.2 billion
dollars a year but the US dollar accounts for about 80 percent of all foreign currency transactions worldwide a total of about 6.6 trillion dollars per day thus I wouldn't expect the Saudi Chinese oil deal to have a dramatic impact in its own right on the petrodollar system that said if other countries begin following suit and making similar deals effectively bypassing the dollar that could have a larger impact over time I wouldn't be surprised at all if Global Currency Reserve systems begin to diversify away from such extensive Reliance on the US dollar this trend has already begun and a number of other currencies including the Euro the Swiss franc the British pound sterling the Canadian dollar and the Chinese Renminbi are already in use I'd expect that Trend to continue and perhaps even to intensify if the dollar becomes less stable as a store of value that is if It suffers from higher rates of inflation which is exactly what we're watching take place today is it not so what do you do in this situation standing that the Petro agreement between Saudi Arabia and OPEC and other countries is that we would provide them Military Support but yet today we understand that Saudi Arabia has thumbed their noses to the United States and agreed to use the Chinese Yuan through the Shanghai exchange with the U.S military still pick up and go help them should they need it what happens in a moment like we're in right now what does it mean to the Petro agreement we've talked multiple times over this past year about a controlled demolition that we're watching in the crypto space I believe we're also watching a controlled demolition take place with the Petro dollar and I don't believe for a second that the U.S was not at the table when the agreement was made to watch that happen the United States does not want the effects of the trip and Dilemma on its National currency a trip and dilemma is the effects of when your National currency is also a global Reserve currency and the pressures that it feels on that National currency in regards to whatever Global policy adjustments you may make as the GRC if you think about the pressure of the trip and dilemma the printing of the money that has been done in just the last couple years since the pandemic let's understand that that money that was printed was not just for the United States it was for the world so the pressure to understand what to do about all that money that's in circulation and understanding that now we're watching countries really move to join brics coalition like Saudi Arabia and Egypt which has just joined brics and other countries soon to follow I believe what we're really witnessing is a d dollarization campaign by the bondholders who have to deal with the surplus of the Petro dollar recycling I believe what we're seeing is a shift in position for them to try to hedge or minimize their exposure to the U.S dollar which will be abandoned as the Petro dollar over the next few years maybe sooner I do believe that moment is coming the reason I believe that that moment is coming is this I think we all have heard about the bancor coin that was introduced by John Maynard Keynes back in the creation of Bretton Woods in 1944.
what's interesting about this is that they didn't have the technology in that day to be able to launch what he called a supranational currency but that technology exists today ladies and gentlemen and it exists in a way that could certainly function to solve the problem and the spillover shocks of the economy of the world and certainly the abanding of the Petro dollar this is a diagram that I put together back in 2020 of May it's a conversation we've been having for a long time it's always been said when it comes to The xrp Ledger and the intelliger protocol it's all the money because the xrp Ledger is a decentralized exchange making a market for anything of value that's what we're talking about here when I think about the death of the Petro dollar it's because it elevated the status and dominance of the US dollar after the Gold Standard was dropped I believe what we're witnessing is not just a controlled demolition of the crypto space so the Legacy firms can take control of what's left after the Smoke Clears because I believe that's happening I believe we're also witnessing the death of the Petro dollar due to the fact of the rise of Central Bank digital currencies and the use of a bridge currency like xrp if we think about how xrp can work to complement the system there would be no need for the U.S dollar to have the elevated status of oil by the way two years ago we found out oil went from being an asset to a liability because it went negative maybe that was intentional maybe it was to prove a macro point to the players of the world who didn't want to see the system change I don't know the true answer to it but what I do know is this if we're going to see the world move to a multi-polar asset-backed system the way the IMF talks about and the World Bank talks about and other central banks talk about all the time we're going to need to see the greatest Financial paradigm shift in the history of mankind but it will need to be asset-backed so if it isn't oil what will it be oil has a great utility through the world even though it went negative two years ago I think the next utility is a part of this fourth Industrial Revolution and it won't just be xrp to token it'll be The xrp Ledger which is a decentralized exchange for the world and that utility my friends may just become the birth of the new rise of the Phoenix which is xrp and imagine the new Central Bank digital currency from the United States releasing their dollar backed on this new market infrastructure that is working to settle all the money for all the world what would the price of that be if you just look at this diagram and see how this all comes together what I see in a in a smaller fashion is what Ripple has been doing around the world getting all the utility hoses whether it be a remittance company or some other FX Market or other Supply chains plugged in their hoses of utility and liquidity Into The Ledger we also know Ripple has a private Ledger for central banks we also know that the central banks could create their own side chains and plug into that imagine how much value would be running across the decentralized exchange knows The xrp Ledger if all of these currencies let's say for the G7 or G20 were plugged into this system not to mention all the Commodities like gold oil soft Commodities wheat corn soy all of it you could certainly release a new dollar a new asset backed U.S dollar with the ability to provide a constant flow of utility 365 24 7. and you wouldn't need it to be a Petro dollar if you think the utility of oil gave rise to the US Dollar's strength as the global Reserve currency what do you think all the value would do to a new U.S digital dollar if it's running on
The xrp Ledger happy 2023 everybody don't wait for it to be a great year make it one check out all the links underneath the video not Financial advice or me or anyone else I'll catch all of you on the next one
2023-01-03 06:34
