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xrp vs usd - currency war


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7 hours ago, JASCoder said:

One thing I'd like to add, is that the driving forces behind the SEC's precipitous actions are likely (imho) not simply limited to the US Government (regulatory oversight and political actors), but include the Fed. Reserve and other banking interests.
There's a lot at stake here !

Anytime the status quo is getting disrupted, the sides which would be threatened (both financially and tools of power), are gonna take notice, and take actions.

XRP's potential has spooked the heck out of many of vested interests, how could it not ?

"Conspiracy theory" was the CIA's invention to discredit nosy journalists and those who seek to learn who really runs things. The Federal Reserve is no more a federal entity than McDonald's; private banking interests have ruled the world for decades if not centuries.

All who have ever seriously opposed the fiat/fractional reserve/ central banking system have been put 6 feet under. That is until XRP.  Those who benefit greatly from the current system will fight tooth and nail to maintain their power. No banks wants to give up their cash cows and golden geese, charging interest on our own money, loans out of thin air.

There are two versions of the "Great Resets" today vying for the future of the world financial system; the IMF/WEF's version and the Trump "level-playing-field" version. I feel somehow Ripple and XRP got caught in the tug of war for financial supremacy.

I know which version I'd rather live under.

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As much hoopla as is made about the USD losing reserve currency status, this is not necessarily a bad thing. It solves Triffin's paradox, would make room for BRICS growth, and if this asset-backed system bridged by XRP comes into being, countries like Zimbabwe with huge gold reserves would have a fair chance to prosper.

For the love of God, Zimbabwe has 13 MILLION tonnes, 13,000,000 tonnes....of gold in the earth, how are they not the richest nation on the Earth? You know how much the USA supposedly holds? About 8,000 tonnes....vs 13,000,000 tonnes. How are they still a third world nation??

It's ridiculous how the current system keeps nations like that down.  An asset-backed digital crypto-certificate/XRP system gives Zimbabwe and many others like the Philippines a fair shake.

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One way to look at where things are, right now, bigger picture, is that we're in a "hobbyists and lobbyists" stage.  Both are incented purely by short-term profit.  Nobody (except maybe a wise man or two) is thinking about this properly, in the context of Triffin - and how to solve for that, long-term, without creating a great displacement / starting a war.  (Some don't care, others don't see, and a few really nasty bastards seem to be rooting for it!)

The current solutions that I've seen popularly proposed are of the "gold or sdr" variety...  Those proposals have been around for a long time and nobody can agree on either - thusly, some sort of synthetic and gradual/long-term solution is probably best. :)

The old-school natsec/defense hawks seem, largely, to be in the gold camp - which is why the (overly) simplified "BTC has a fixed supply!" one-dimensional argument is the resonant one, with them... for now.  Of course, many of them are waking up to the fact that BTC is the first "popular" iteration of this new tech - and that it's old, now - slow, also - and that it's dependent upon miners who are in China, which, for an old-school natsec/defense hawk type should be (I can't resist the pun) a "huge ******* red flag"...  (They'll consider just ramping up our own, domestic PoW empire network - but the Chinese - and others - will kill us on electricity costs - and labor costs to fund extracting the fuel for that electricity - and we'd be right back where we started, except maybe worse off, after grossly mis-allocating capital to try to compete in and transfer over to a system that, even if we switch places w/China and dominate it, we all still lose - as that turns US into USSR in the 1980's and we just wind up going broke - not even mentioning other bad scenarios.)

Once those guys figure that out - and maybe they already have, but we'll see - they'll begin to look for alternatives that do not introduce those risks (and that actually work).

That's sort of where we're at, I think...

(I object strenuously to the title of the thread "xrp vs usd" - I don't see it that way, at all - but at least so far as the "currency war" part, that's the proper call.)

 

 

Edited by NightJanitor
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5 hours ago, yxxyun said:

then why US gov NOT against BTC?  BTC market cap is 60x bigger than XRP.

Because Btc isn't a bridge.  XRP could fit in a scenario where a reserve currency isn't backed by any nation.  Technology wise it can do it, Btc i dont think it could. Btc is just there, its just some expensive item. Nothing wrong with it, it's just there chillin. 1st ed shadowless Charizard is worth more than Bitcoin, but the Government isn't banning Charizard anytime soon.

Edited by stickynoodle69
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12 hours ago, Cambridge said:

@jcdenton are you still around these days? I followed you, @KarmaCoverage and @Wandering_Dog for awhile.  

I remember that -- good times and interesting threads :dance4:

I often point people towards Peter Zeihan's talks from 4-5 years ago in this context. He explains the Bretton Woods arrangement from a military and trade point of view. Pairing it with knowledge of the Triffin dilemma makes for a very useful combo to understand the current position of the US. 

This is a good example if I recall correctly: https://www.youtube.com/watch?v=jT6HFCAFDgU anyway most of his talks are similar almost down to the last dad joke :hi:

I haven't watched any of his newer talks/books, but think I'm going to now. This framework has been very useful to make some of the Trump administration's actions seem less nonsensical. 

The US can't have the dollar be the sole global reserve currency forever, unless they transform every steel worker into a Google Exec or Management Consultant. However, I'm not sure this general direction can be used for shorter term speculation about exactly how Ripple will be treated by the SEC.

The US has to partially unwind an Empire -- there's no precedent/playbook for that, and no permanent Emperor in place (thankfully). So they might well struggle for years going back and forth between administrations with this schizophrenic task of partly giving away their central tool of power :king: 

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44 minutes ago, jcdenton said:

This framework has been very useful to make some of the Trump administration's actions seem less nonsensical.

There's some truth there!  Without the contemporaneous news that FinCEN was proposing (potentially rushed, but I see why) new "wallet" rules, combined with some other things (like HFCAA and the EO's re: Chinese telco's/etc), it'd be very easy to just go "these guys are morons;  they're just lashing out" - but within the mosaic, perfect sense.

Whatever moves, behind the scenes, that are causing the "privacy" coins to be delisted here and there also add some further datapoints that support such interpretations...  (I'm not a "managed decline" kind of guy, nor do I think the US has to become a totalitarian state in order to take one on, just so ya know.)

(like The Man says... "We'll see!")

Edited by NightJanitor
Mmmhmm.
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Posted (edited)

The US government made a very smart move, U.S. Banks Can Now Run Nodes for Stablecoins.

It means that the XRP has very low chance to take the 6.7 trillion FX market since USD stable coins can run on any blockchain (solana, polkadot....) and implement ODL themselves without XRP

The best move for Ripple now is to issue a stable coin, I guess

 

Edited by Jack21
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This is pretty speculative theory.

The US has an airgap between the department of justice and the state. They aren't allowed to share employees and other things.

Do you have any proof of statements or actions by the SEC as evidence?

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15 hours ago, stickynoodle69 said:

Because Btc isn't a bridge.  XRP could fit in a scenario where a reserve currency isn't backed by any nation.  Technology wise it can do it, Btc i dont think it could. Btc is just there, its just some expensive item. Nothing wrong with it, it's just there chillin. 1st ed shadowless Charizard is worth more than Bitcoin, but the Government isn't banning Charizard anytime soon.

The BTC cover story is some programmer guys in a chat group created the most 'revolutionary' money ever devised; abandon a ton of it, worth 10's of billions today, stranded in some anonymous wallets for near a decade, while the 'founder' decides to leave it all behind to go take up Pokemon card collecting or whatever else you want to believe.

Meanwhile PoW cryptos are "taken over" (mining) by a lone communist-ruled country directly involved in espionage against neighbors and the USA. Oh and by the way none of the PoW coins scale at all...

All seems suspect to me.

~~~~~~~~~~~~

Tinfoil hat time, but it would not surprise me if it comes out that Bitcoin was/is some CIA/globalist/CCP toolbox creation made to launder money.  I mean look at it's original mainstay use, Silk Road. Trump possibly pardoning DreadPirateRoberts could open up a lot of that blackbox, he's gotta know a ton about all the 'buried bodies' in and out of the Silk Road.

They gave the guy double life plus 40...murderers do less time. WTF would Trump pardon a man thrown under the jail if he had nothing to offer in intel? Quite possible a lot of this China laundering fentanyl drug money went through the Silk Road. Then we have the Tether-BTC pump/dump added in the mix.

No one's talking about that Tether SEC lawsuit though. Guess the AI news bots missed that headline.

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3 hours ago, jetbrzzz said:

involved in espionage against neighbors and the USA.

Lol. Oh no! Espionage! Lucky the USA doesn't do that to enemy and allies! Chinur bad, USA good.

You watch too many youtube "facts". Or you've been too long in lockdown. Or both.

Edited by SquaryBone
much/many
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1 hour ago, SquaryBone said:

Lol. Oh no! Espionage! Lucky the USA doesn't do that to enemy and allies! Chinur bad, USA good.

You watch too many youtube "facts". Or you've been too long in lockdown. Or both.

hahahahahahaha I am very amused by the plot of all these characters, you know, China spies to create an evil world dominated by Communism while the US spies to create a world of gummies and cotton candy (and from time to time to promote military coup with hundreds of thousands of civilian deaths in those countries that do not share its form of government or in those that have commercial interests), what a bunch of lunatics.
By the way, at the end of the day it is the North American state that takes charge of the economic bill for an important part of its citizens (they would have been ruined by the millions), which is very close to what we know as Socialism; I wonder why the US did not wait for the private sector, characterized by its infinite generosity, to take over that debt (they would have died by the millions), they are totally proud of their libertarian capitalism. LOL.

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6 hours ago, SquaryBone said:

Lol. Oh no! Espionage! Lucky the USA doesn't do that to enemy and allies! Chinur bad, USA good.

You watch too many youtube "facts". Or you've been too long in lockdown. Or both.

Of course the USA has: CIA was/is behind Bay of Pigs, Air America, Venezuela election fraud ala Dominion systems then imported into the USA. USA corruption including Biden family extortion in Ukraine, Uranium One, the list goes on.  You've missed the point.

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