The post Ripple: The New Federal Reserve? Wall Street Analyst Linda Jones Weighs In appeared first on Coinpedia Fintech News
Wall Street Analyst Linda Jones has indicated that Ripple could perform a similar role to the Federal Reserve in the emerging financial system. Jones expressed This in a recent edition of the Good Morning Podcast. The discussion focused on the BRICS coalition’s efforts to break from the dollar standard and its potential impact on the US economy.
The Single Currency Dominance!
She asserted that the BRICS coalition is not against the US but against central banks and the single currency dominance that controls the world. She further stressed that the coalition opposes the Federal Reserve’s control of the global economy through the US Dollar.
As Jones speculated, a new US currency might emerge, potentially backed by gold or other assets. Jones emphasized the need for a financial system supported by real assets, noting that the world must move away from the fiat banking system that relies on the dollar.
The analyst predominantly advocates for a transition from the trust-based system managed by central banks to a truth-based system, distinguished by transparency.
She also clarified that this change will not lead to failure for America and highlighted that Ripple, an American company, is at the front line of this new system with the XRPL Ledger blockchain.
She further underscored that a new currency cannot operate without accountability, contrasting Ripple with Bitcoin, whose founders are pseudonymous and lack a central point of contact in case of issues.
The Need For An Accountable Entity!
According to the analyst, the necessity for a known, transparent, audited, and accountable entity behind such a system was stressed as the criteria that Ripple meets. Jones also humorously added that Ripple could be seen as the new Federal Reserve. Still, she also noted that, unlike the current Federal Reserve, Ripple is privately owned and will be publicly traded in the future.
The host of the Good Morning podcast recently shared a bit of Jones’s statement on X.
The analyst remarked that Ripple’s position would enable America to retain its leadership role and also expressed confidence that the U.S. dollar would not lose its value completely before the transition occurs, as such a collapse would be a matter of national security. Ultimately, the analyst sees a parallel system where various financial systems operate on the XRP Ledger emerging.
