This is November 9th and I've got some um I got some interesting perspectives regarding XRP. >> By all means. >> Okay, let me just tip this off by saying that of a global financial transformation toward digital finance. And the companies who refuse to participate, they're going to experience a cost disadvantage with their competitors. The banks that don't wish to participate, they might actually go out of business in two years. That's how serious this is. We've got a consensus. We've got a majority.


This is not like five or 10% uh moving toward this transformation. One of the big takeaways from the Ripple Swell meeting that took place today, I'm sorry, I think Tuesday and Wednesday this week, I think it was Tuesday, Wednesday, there were 20 different large financial firms in attendance. Um, if they weren't firms and they were, you know, financial corporations that were involved like like the NASDAQ, uh, like Moody's. Um, and I noticed that of the 20 people in the Ripple Swell picture, there were,


I think, six women. Um, these were major financial names, corporate names. So, it's not like critics can say, well, you know, yeah, there's a little bit going on. There's some various companies. No, there's not various companies. There's a very long list of companies. There's a long list of nations. I heard that there are some very big time tests going on with Mexico, Singapore, and the UAE. I thought when they mentioned that trio, I thought they were going to include Thailand, but apparently not. Thailand


is some kind of a unique test site for a much higher price stress test. Um there's a lot going on and I've got four different points to make and um I think a couple of them aren't going to be a big surprise but it's nice to think cohesively. All right, the first one I believe we have some major accumulation that's been going on for the last month or two. major accumulation of XRP by large financial firms. Now, if a big financial firm is going to offer an exchangeraded fund with spot


XRP, they're going to want to have XRP in order to in their own corporate treasury. They're not going to watch and actually force a much higher price without participating. They're going to want to participate. Um, I think the players are Black Rockck, JP Morgan, and let me just say at all >> because I think Bank New York Melon, Bank of America, they're in the news. They're in the news about favoring the Ripple ecosystem. They're in the news about converting their 22 trillion each


back to New York Melon POA. >> And TD Price, >> pardon me, >> TD Price also made the news too with it. Spotty >> CD price. >> T-roll price. >> Oh, T-roll price. Yeah. Yeah. Yeah. Right. Right. Well, NASDAQ is in there. Um, Swift has been caught with their pants down. >> You got to laugh. Um, but anyway, here's here's the big issue. I think there are a few Wall Street banks that are involved and I I think Ripple has been facilitating. Now, as we know, they've


got something like 35 billion coins in the Ripple uh escrow wallet. Well, what if they make 10 billion available to Wall Street and big financial firms? Wouldn't that be an interesting gesture if they made I think in return for helping and facilitating and and these are Oh gosh, I heard two new words. up uh BWOP and and VWOP. Um averaging over time and averaging over volume. T-WP and and VWOP. I think the B is for batch. I'm not sure. But you know, every hour by 20,000, every hour by 100,000.


So it it doesn't flood the market with the demand, but it it enables over a two-month period to accumulate a very large amount. So they're using uh structured methods, but I think the real important part is that Ripple, the management might be making available some of their escrow. Um, we've also noticed that the coin exchanges, and this is not really new, but you you got to start interpreting things because the information is is like slamming against your face. They're 80 to 90% down on their XRP


exchange wallets, which I call the exchange inventory of XRP. They're all down 80 to 90%. Well, there's accumulation going on. Well, we get in a unique situation where there's a lot of events happening and a tremendous amount of accumulation going on at the same time with a quiet price. So, I believe what Ripple is asking for in return, Scott, is a bank license. >> That's been reported. >> Well, I think it it's quid proquill. will help you accumulate all you big guys bank of you know black


rockck JP Morgan at all >> right >> will make 10 billion coins available will collude really it's cooperating collusion with the coin exchanges it could be over 10 billion could be 15 billion coins in return Ripple wants a bank license thank you very much okay that's point number on and with that bank license will be all these different follow-on effects for you know issuance and and sales of RLUSD um burning XRP in in transactions and uh just expanding the Ripple ecosphere.


Okay, that that's point number one. Point number two, this is a little more subtle, not so obvious. That's why I like it. You got NASDAQ saying that their executives are already on record. We're going to scale it in and we want to tokenize our 52 trillion in outstanding shares. 52 trillion with a T is in Thomas. Well, in order for that to work, you got NASDAQ. You got the depository trade clearing corp. You've got other large financial firms with with huge assets under management like Bank New York


Melon and BOA. They're in the news a lot. I think there are other large companies in in Europe. In Europe, this is taking off, I believe, a little more rapidly than the United States. Okay, you got a lot of French, German, and Swiss sovereign wealth. Not so uh wealth management funds. Not sovereign. Sovereign would that that'd be like you know the monarchies of the Middle East, the Gulf region. Okay. So you you've got let's just say you got 20 different or a dozen 12 15 20 different very large financial firms


performing a massive function and they want the cost savings. They would have billions in savings by using XRP as the bridge asset in their transfers because they want that large savings. They want the large volume. To enable the large volume, it's got to be at least the 500 200 $500,000 price. Okay, that's point number two. the big players in order to realize the gains that they're striving for cannot do it under $200 for XRP. It won't work. That's point number two. Point number three,


dates myself. Um, how many times have you heard Garlinghouse or some analysts like Jake Claver talk about interoperability? XRP enables a payment from destination I'm sorry from origin A to destination B. The bridge asset makes it happen. And it doesn't matter if A and B are incompatible. Doesn't matter if they have different financial system. Doesn't matter if they're even in different currencies. Doesn't matter. XRP is interoperable, can work across systems, and can work


across different currencies. It's interoperable. Well, I need to hearken back. And you know, I I heard interoperable for about three or four months, and last week, last week it went off. Okay. Dong. >> The light bulb went off. The light bulb went on and I was remembering my first project at Digital Equipment Corporation in Maynard, Massachusetts, suburb of Boston. It was a great experience. Some of the best years of my life, 1980 to 2000. Uh it was 12 years with digital, a couple years on my own doing consulting


work that had some success and some idle time and then five years with Staples. Okay. My first job with the marketing re my first project with the marketing research post in 1984 was a Unix project. Now there are a lot of people who don't know much about Unix but let me just give a very brief thumbnail summary. In 1975 to 1985 there was a really big problem in the computer industry and that was a company might have had 10 years of developing software with IBM. So their software was compatible


uniquely to the IBM system and then they had a new department maybe R&D a little more modern a little more little more advanced like using workstations and maybe more digital equipment deck digital equipment corp deck. I was a decky for 12 years I was in inter mural softball. I did extremely well in ex in inter mural softball. I managed the team for three years. I didn't like it. Um I'd rather just be the left fielder. Okay. So, you've got this newer department that might be more advanced and using


something that's not IBM like deck workstations and equipment. CAD CAM computerated manufacturing computerated design. So can you communicate the IBM side with the digital side? They could not. So they were they were silos. They were islands. They were in in communicado. They couldn't work together. So along came AT&T and developed Unix and their first language was called C. I have no idea what C stood for. Maybe computer. Who knows? I don't care. A couple years later, they had version two. They call


it C++. A few years later, they had more advances. They call it C++. >> What was Unix all about? It didn't matter the hardware. It was hardware independent. So if that company had Unix software for all those years of development on the IBM and then you had the new guys with the CAD CAM and R&D and whatever with the new deck equipment if they had Unix also they could all talk to each other interoperable. So after hearing for about three months the word interoperable I started thinking oh


my gosh we've got a parallel to Unix. Unix is to the computer systems, the computer sector in the 1980 decade, what XRP is to the banking sector in the 2020 decade. And let me tell you, Unix turned the entire industry upside down. It made it so that companies could not overcharge for their software and that includes operating systems. Digital had the best operating system in the industry backs VMS virtual management system for swapping out memory very efficiently and effectively. It almost didn't matter anymore because


Unix came on and companies said we want good hardware but we don't necessarily need anything on your software world. Okay. It it it revolutionized the computer industry and believe me there were some casualties. There were a few companies that didn't make it. All right. So what does that spell for the future in the banking industry? It means you adapt to interoperability and you take advantage of it. and you exploit the cost advantage or you go out of business. If you have a financial department and


you don't want to get modern with the digital, your competitors are going to have a cost advantage over you. So unless you've got tremendous whizbang products and great management and great distribution and great marketing, you're you're going to be you're going to be dragging along your antiquated financial department. Okay, then if you got a bank, I I made up an example in a previous show. I think it's a good one. Let's suppose there's one Wall Street bank that says, "We don't want this. We


don't want it." one Wall Street bank in two years they're going to be out of business that they adapt, integrate it, take advantage of the cost savings or fall by the wayside. Okay, that's the third point. The fourth point is really cool. If you look at the standard for 500 companies, you got 500 of them obviously. You take a look at the NASDAQ companies, how many biggies are there? There probably a couple hundred big ones like, you know, not necessarily just the fangmats, but other big ones


like, you know, Cisco systems, like Oracle, big companies. Okay, let's just say you got 800 companies in the United States and they're all working toward tokenization of their assets. And I don't even know how intellectual property is going to be tokenized, but I think it probably will be. Um, if you can have a property title that's tokenized, I imagine you can have a patent that's tokenized. >> Absolutely. >> You can have a Van Go uh artwork that's uh what do you call it? non-f fungeible


token NFT >> NFTs >> you can have uh intellectual property >> NFTTS was actually specifically for the entertainment and arts world so that they could fund make those art project or songs and so they could put it as an NFT and you buy the rights to that song so you can play it over and over or that art piece you can have a piece of it and then as the art piece increases in value, so does the NFT. >> Yeah. But that then it it gets traded as a tokenized asset. >> Exactly. Exactly.


>> Right. All right. So, you got all these they're they're almost like intangibles. Well, you know, art's not that's not a good word. Um, non-scientific. Okay. Anyway, you got other different industries that are tokenized. So, all right. Now, here's the main point. We know there are a lot of companies out there and they're tokenizing and and they're they're openly talking about it. >> They're boasting that they're getting modern. We're tokenizing our assets


under management. Bank New York Melon, Bank of America. Now, it's it's company after company after company. How many different companies are involved in the digital architecture structure in the buildout of the infrastructure? Okay, I look at it as a giant tree, a tree with 20 branches. Okay, you got all these different functions. You got treasury functions, you got custody functions, you you've got um >> oh my gosh, security and anti-fraud. You got all the and lending. You got all


these different functions. By the way, Mastercard now has an XRP card, >> right? >> Okay. So, you've got this, I call it a funnel. You got 800 companies. And how many companies are involved? I think it's about 8 10 maybe 12. I mean, we know the names. We keep hearing them over and over again. It's XRP with with Ripple. It's Stellar's XLM. It's XDC. It's Hideera with HAR. It's Cardana. Um, it's uh Oh gosh, I keep thinking can't think of the other one. ADA is Cardana.


Um, there there a few more. Let's just say they're 10. Maybe they're 12. Maybe they're 20. I don't really care. My point is that they're not 200. You've got a dozen or two major players. I heard Algarand is compliant, ISO compliant. Um, I I didn't know. I heard the name. I just there too many. trying to focus on the winners. Um, okay, here's the point. You got 800 companies and they're all dealing with, you know, hundreds of billions of dollars. Where is it all going? It's almost like


they're the foundation floor and there are all these different companies that are operating on the Ripple Foundation floor. Um, and you got to pay rent. You got to use Ripple's ticket to play in the temple in the Ripple temple. And I think it's going to go global. Um, in in almost every instance where there's a competition, I'm seeing Ripple XRP win. If you go back a year, you'll hear more that XLM with Stellar was expected to be the big winner in retail. And we're not seeing that. We're seeing


BIES with XRP. We see AMG theaters with XRP. We're seeing now Mastercard with XRP. Could it be that XRP is at an advantage in a number of different respects, not just on demand liquidity? I heard XLM has their own version of ondemand liquidity. I had a client write to me and said, "Jim, it's not the same, but it does eliminate the vastro and nostro escrow accounts on each side." And I asked, "Is it built for volume?" And he didn't know. So, I don't know what the advantage of Ripple's on demand


liquidity would be versus Stellar's. I don't know. >> Here's a couple of things. I do know that Stellar will be much cheaper to move than XRP. XRP will charge it's a very small amount but Stellar's is even smaller and it's even faster than XRP which is unbelievable because it's you know XRP is really fast as well. So that was one of the advantages to the stellar network. So >> are you are you talking about like let's just get some examples. XRP might be 3


seconds and Stellar is two or one and a half. >> Yeah, but it's also cheaper. So, we're >> I know I was going to get to that next. And XRP might be three cents, but >> uh XLM might be one penny >> or much less a fraction of a penny. >> A fraction of a penny, >> right? >> Okay. But can it handle volume? Is it scalable? >> That's what it's scalable to. So, that's why it's in the ISO 22 compliant list as being scalable. Well, where do you think Stellar will


win out versus Ripple? >> Because Stellar >> certain sectors >> Stellar is going to be a little bit cheaper than Ripple. XRP always. So that's why they keep saying XRP will be and have you here's one last thing you have. I don't know if you factored in yet. The XRP burn rate. Have you even looked at that yet? Um, I know there is a burn rate. I don't know what it is >> exactly. It's the burn rate right now is like point I think there's like five zeros and then a one or something like


that. So right now the burn rate is inconsequential until they start doing realworld assets RWA and then move over a trillion and now they're burning a trillion XRP at a time. Now the burn rate becomes, you know, exponent >> hundreds and thousands. >> That's when just the burn rate alone, if the burn rate was to kick in at I think it's one trillion moving over in its minimum 150 XRP just right out the gate. >> 150 for a trillion dollars. >> That's what I'm that's what I was having


a little conversation with Bob the other day about it. I could probably pull it up, but I'll see more of the details on it. can study that. >> So if you do >> if you do six of them >> six trillion then you're burning a thousand coins. >> You're burning more than that. >> If Well, I just multiply by six on 150. >> Well, hang on. I I'll see if I can pull it up. >> Okay. All right. Well, I I just think that this supply shock concept is very


real. >> The coin exchanges are are very low. Um there there are not a whole lot of coins among us plebeians. 2% only 2% own 10,000 coins or more. Uh that's not much. So if they keep the price down, it's not to get coins from a shakeout. That's not it. It's to keep it down for the accumulators. >> Yes. Because they're buying in at large volumes right now. And I don't know where they're getting it from, but I I expressed where I thought they were. The coin exchanges and the escrow from


Ripple itself. Uh this supply shock is very real. And you know, I heard a unique argument. It said I heard an argument about how Ripple was unique, XRP was unique. Um we have an unusual combination at the same time of tremendous high volume accumulation but a tremendous number of events regarding acquisitions, adoption, conferences, uh acceptance and um you know treasury enabling facilitation of treasury. These acquisitions by Ripple are tremendous. I I outlined several of them in the October report. These are not minor


acquisitions. These are huge branches on the tree. Um, this is exciting, Scott. I I I I can't get around how exciting it is. So, here it is. Assuming XRP can use a multiple times per day for settlement. So, the velocity is critical. It means one XRP can serve many dollars of value per day. So, that gets into the math is kind of wonky. I'm going to just copy this, send it over to you. >> All right. For a trillion dollars, >> wait, >> what's the burn? >> Paste.


>> I mean, I >> So, I'm sending this to you over in a note so you can read this. >> I can read it. >> All right. So, >> velocity required. So tok tokenization settlement volume 100 trillion a day. And so this is where like I say it gets into the the math gets a little bit crazy immediately a tiny fraction. So it only it's it's four zeros and a one is considered its burn rate right now. So but once you start moving trillions of this stuff it gets exp a trillion is 12 zeros.


>> Yes. >> A million million. So six and six. Okay. 12 zeros and you move over five. Wow. Are you talking about 10 million? >> Like I say, it's kind of hard to explain the kind of the way it's working wording it, but just conservative real real world inflow. Here's here's one of those last charts here. >> Maybe that's a good question to ask chat GPT and let it work out the details. >> Well, it kind of does. And it says real world flow 16 trillion a velocity of 100


is a $2.91 XRP price. But if you get into a moderate of 50 trillion then it's uh it turns into $9 price 100 trillion is $18 and plus 100 trillion global settlement goes to $181. >> All right. So the burn rate is less if the value is higher. >> The burn rate becomes more. >> Oh, more. >> Yeah. >> Oh, it's a it's a fixed percentage. >> So as as more coins are traded, the burn rate increases exponentially and therefore the price goes with it too because of scarcity.


>> All right. If the XRP price is 10 times higher, is the burn rate the same number of coins? >> Uh, yes, so to speak. It looks like it would be. >> All right. I I'd have I have to resolve that at a later date, >> right? I know this is kind of complicated once you start getting into the burn rate. All I wanted to assess to that was once they start using more coins in a daily transaction, it's going to exponentially increase the burn rate, which will exponentially increase the


price of XRP, which goes to you're saying the higher XRP is going to have to be at a higher price to handle larger volumes of global demand of liquidity. The only way it can handle it is by the price going up to be higher to handle hundred trillion. And this is just figuring at 1% 1 to 5% of global tokenization. >> I I know. And and that that's just a really interesting stake in the ground because I mean if if XRP doesn't win at least 30%. I I'll I'll eat my shorts. I mean, I just


I think it's going to be like 60%. >> It It's gonna be huge. And like even at less than 5% it it automatically is going to push XRP well over $200. >> Well, I I I agree. And and I I'm very curious about how much will be shared with Stellar XLM. >> Well, that's the thing. They're going to diversify probably and that's why they're all even these meme coins are getting created into baskets now of EFTs. Even even sheep, it was kind of the lowly one out there because it's so


much an anonymity to the coin, you know, but even the meme coins are getting in the baskets of the EFT. So, they want to diversify and share it out because there's a lot of people out there on the in the crypto space that own a whole lot of other coins besides just XRP and the Bitcoin maxis. It's funny cuz the Bitcoin maxis say Bitcoin is the only thing. XRP maxis say XRP is the only thing and you got hundreds of other coins out there that are trading massive volume. Look at Dogecoin. It's kind of


almost like garbage, but they're creating an FFT for it, too, because Wyatt has so much money under assets. When they get over like5 billion dollars, they get they're turning heads. >> Yeah, I think it's going to be a couple of different motives involved. You got to accommodate the people who own these crypto coins, but you also want to have multiple points of failure. um they don't want to have XRP XRP XRP everywhere like 80 even 9 85 85 88% market share because if something


happened by the way I I've heard that Ripple and XRP don't have a single breakdown they haven't had a single big breakdown Ethereum did Ethereum did last week two weeks ago okay so multiple points of failure and share the wealth um there going to be a lot of winners So that's widening the hydraulic tube. >> Maybe it's not 10. Maybe it's like 30, but we're still going from 800 down to 30. And I think even among the 30, there going to be three or four that get the


majority. So the hydraulic effect is going to bring about big time multiples in the asset valuations. Well, the way I see it is XRP, even Bitcoin now, you know, they're considering it so that you can start using it as a payment mechanism, right? And XRP, since the banks will adopt it, it's only going to open the door for other coins because what you're looking at is adoption. And adoption is the biggest key to the whole crypto thing. They've been blocking adoption here in the States. Whereas other countries, you


can go pay for a freaking hamburger at McDonald's with Sheibacoin in Japan. You can pay for your groceries over in England and stuff using digital assets. Can you do that in America? Not yet. >> We're we're behind. I think we're gonna I think we're going to be laggers. And as a result, we not only have opportunity, Scott, but we're seeing the real world usage. >> Mhm. >> And it's it's proof of concept. And it's our turn now. So invest. And you know,


let's face it, a lot of Americans don't pay attention to what happens outside the country. And it is a national problem. >> I mean, it's not just a phenomenon. It's a problem. >> Yeah. Most Americans don't speak a second language. >> Yeah. >> Well, the Latinos do cuz they grew up with as as a bilingual family. >> The Asians do cuz they grew up as a bilingual family. Bilingual family. But we're seeing the proof. Gosh, I heard about it two years ago with a con with a


consult called the guy in Oman. They're using it all across the utilities in in Oman and the Persian Gulf. >> Right. Anyway, uh this is just I haven't been this excited since I was maybe about three years ago coming out coming out of the lockdown. Okay, it's finally over. Now we get to rebuild if we can now. Now we're going to see a lot of damage and and a lot of uh economic harm that will result in safe haven and gold and silver. I got very excited about that in 22 and 23. Um, now I'm


excited all over again. And and you know, every few years an old guy needs to get excited. >> Not about, you know, what what's walking down the street, but what what could be, you know, fattening my my wallet in my back pocket. I tell you, this is exciting. I I've said the word exciting several times. Um, I I try to learn something every day. I have a practice that had been been refined in in the last four or five months. I might be relaxing after 7 o'clock in the evening. I start early. I


start at dawn, >> right? >> I might be relaxing with a like a baseball game and now it's football season. I turn the sound way down. I'm watching a video. I'm I'm burning pardon me. Talk about a burn rate. I'm burn burning my my cell account balance. Um I need to put in 20 bucks this morning so I can make sure that I can watch some videos while I'm watching some NFL game. I mean I got the New England Patriots are I think they're at the Tampa Bay Buccaneers. Um we got


maybe the most exciting rookie quarterback in many years. I know that Jackson Dart for the Giants is exciting, but Drake May of the Patriots is um he's doing tremend he's got a record that uh is amazing. He's got u I think the highest completion rate for 25 yard passes. Uh that that's that's really a gold star on the forehead. He came out of North Carolina. Uh, I was upset that the Pittsburgh Steelers did not draft uh Jackson Dart. I thought they made a huge mistake going with


Aaron Rogers. Go for the future. Anyway, um, so here we are and I think in the next couple weeks we got a new phenomenon. uh these exchange traded fund firms, I should say the firms that are sponsoring them, um they're they're being induced and encouraged by Atkins to write in a a 20-day clause for automatic approval. This is uh very efficient. This is how you get around the lockdown. Uh okay, we don't need the Security Exchange Commission to be active in handling a big backlog. We just need to file something, get it


registered, start the clock, and and what is it? I think it's uh Canary Capital on the 20th. Uh that's a Thursday. The Yeah, the Thursday. So, it's only 11 days away. Canary Capital and and you know their their CEO guy named MC Clerk, he's the one who've been making a lot of waves talking about how these estimates of spot XRP exchange traded funds the estimates of volume are way off. He he said we're we're way over subscribed. We're we're about you know 50% over


subscribed. So we got a supply shock coming. That's >> and and the exchanges are not going to be able to handle it. They've already forfeit, not forfeited, they've already relinquished willingly to, I believe, the big players. And you know, you got to think about the big players. And this is a really important point, Scott. I haven't talked about it much. If Black Rockck and Wall Street have been in control for over a century, they're not going to give up control easily. And and there's a great quote


that I heard from Garlinghouse, the CEO of Ripple. He said, "We're not looking to take over the banking industry and the financial sector. We're looking to upgrade it." Wow. Okay. We want partners. We want to help these firms to upgrade. We want to reduce their cost structure. We want to make them more efficient. We want to free up capital from the escrow accounts on transfers. We want to make it, this is a big one for me. They want to enable the financial firms to become lending


institutions again because they're not right now. I mean, you look at the big banks and they're struggling with insolvent asset base and they don't want to say that they got treasuries from all the, you know, near 0% 10 years. Okay. Our banking industry is underwater because of our zero interest rate policy that endured for almost 10 years. So, how do we get them out of that? Get a billion XRP, lift it up to 200, and you're out of out of your insolveny. Oh my gosh. This is this is the rescue


of the financial industry. And you know, it begs a really important question, Scott, that doesn't get asked. If you got all this wealth creation, is it at some sector's expense? And I'm working on that. I believe that we are going to see a lot of assets come down in value. Um but then again you hear about more efficient tokenization transfers and purchase and sales of properties you know residential and commercial. You hear about a lot of more efficiency uh in the stock market. They're going to


be moving toward uh seven days a week. I hear I hear seven by 23. They're gonna have one hour off. I I don't know what they're going to do in that hour. probably do their accounting, but uh >> well, doesn't this go to you're hearing now that the US is buying its own debt and so you know and everybody's saying even Russia is saying you know US is going to buy its own debt and pump it into crypto and so that's another workaround to getting rid of the debt. Well, that's


saddling it with the entire world when they're not aware of what they're buying with all these stable coins. The stable coins, I think, are at risk. >> And it's not just Tether. It's the stable coins. We could be seeing a write down of stable coins and and that'll be the entire globe suffering the effect of the US government debt write down. Um, the whole globe invests in the dollar. Okay. One one reason I get this a lot. One reason we've not seen a 10% decline in the dollar uh according to asset


values is that it would cause a global depression. So instead we get inflation. We get the back door. >> Yeah. We get >> what if they collateralize the dollar back it with gold and oil and crypto? Then they could in theory they could just go ahead and stabilize the dollar back again. death, destruction, misery, sadness, displacement. People living hand-tomouth in relief centers in sanctuaries in Africa. My gosh, that was the source of a lot of the migrants into Europe, >> you know. And as more assets are moved


over to the blockchain, that means the less they can use the derivatives market cuz they can't just keep rewriting the same thing over and over and over again. Blockchains act makes it to where it is completely isolated from rigging and manipulating. >> Well, yeah, to a certain extent. Uh, I I wish that were 100% true, but when I stop hearing about different crypto coin exchanges being hacked and clients losing, I've got three stories of clients. It's just three, it's only three. One was three


years ago, a woman in Chicago, uh, one was a, uh, someone I know uh, in the Midwest, uh, and another in Los Angeles. three instances, three losses. One was moderate and two were large. Not millions, not millions. You know, 100 thousand give or take. I call that large. >> If it's a million, I call it, you know, huge, immense. I still would like to see more work on custody security, custody simplicity. I had a lady just tell me yesterday uh that that she had some challenges uh setting up a coin exchange account. I


think it was Coinbase. Um I know somebody who got frustrated with Uphold. He got locked out. They said your your password is not correct. He said he said I I I made it 20 minutes ago. Of course it's correct. All right. So uphold got a snag. Okay. Usage is not there. We don't have user friendly yet and we don't have anti-fraud yet. Okay. We boast about the encryption, but we haven't brought that encryption advantage to the individual to safeguard his his or her own wallets. The hacking, you know, be careful where


you where you keep your passwords. Don't don't make big movements because you're you're visible on the blockchain. Well, the blockchain is supposed to be encrypted. It's because we've got very very advanced hacking even though it's encrypted. Okay, we we talked about the 1024 encryption. We thought that was good. That's nothing compared to what AI can resolve. 1024 is nothing. So, you know, there's more. I I know somebody who's trying to get an LLC done with with a certain group.


I I don't want to mention name, a certain group that that manages like, you know, joint custody wallets, stuff like that. >> And my client says, I I've got eight pages of forms and I'm I've been working on it for 10 days. I'm not sure I can fulfill the requirement for their forms. >> I get up to page four or page five. I get stuck. I got to do some research. I I resolve that. Then I have to start all over again. He said, "I'm up to page five now out of eight."


That's been one of the biggest challenges for crypto is to make it simple, you know, because the learning curve is very steep on this stuff and it used to be a whole lot worse than what it is now. It's >> I know I know and and therefore I see the progress. I should say I hear about it because I >> I I wasn't a participant of the difficulty in user friendliness before. I was >> what I'm what I'm looking forward to, Scott, is in a year we're going to have


some of the big financial firms saying we've simplified the custodial aspect. >> And that's where the banking is going to come in with XRP. And then once it gets simplified in that one just arena right there, it's going to open up the door for everybody else to follow suit because we got to have some kind of test model to go by. You know, >> we can't just launch the entire system rapidly into it. We need to stair step. I understand that when gradual adopt you you see it with companies like Swift and


NASDAQ, right? >> NAD was very vocal about it. They said, "We want a 10% move and then we want another 10 and then we want another 20 and we're going to get this done in 2026." >> Okay? So, they're not going to have disruption. and they're going to have learning from the first step and second step, but golly, I'd like to have some help on my end. Um, and uh, you you provided some, and we're going to be talking more about that later, but uh, I'm running out of voice. This is


November 9. Dear listeners, I was able to upload a portion of this interview, which lasted approximately 2 hours and 6 minutes due to YouTube rules. You can watch it in its entirety from the link in the description. Now some brief information about Jim Willie will be given. Dr. Jim Willie is an analyst recognized in international finance and economic circles for his distinctive viewpoints. Commonly known simply as Dr. Jim Willie, he is often said to hold a doctorate in an economic related field.


Though precise details about his academic record are not widely documented. He is best known for his work shared through his website Golden Jackass as well as various online interviews and podcasts. His main areas of focus include fluctuations in the financial markets, central bank policies, currency trends, and particularly the future of gold and silver. A defining trait of Dr. Willy's commentary is his emphasis on precious metals, gold and silver, as critical pillars of the global monetary system.


He argues that modern fiat currencies, especially the US dollar, suffer from structural problems stemming from central bank policies and the complex nature of international finance. As a result, he foresees a scenario in which the dollar weakens while gold and silver strengthen. Dr. Willie is considered by many to be an unconventional financial commentator. His analyses often diverge from mainstream economic narratives, occasionally integrating views that some label as conspiracy theories. Yet, this


alternative perspective has resonated with a community of followers who value his exploration of issues they believe are overlooked by mainstream media and big financial institutions. Two, the Golden Jackass platform and content structure. Dr. Willie disseminates most of his research and opinions via his personal website, Golden Jackass. The unusual name is meant to highlight his unfiltered approach. He describes himself as presenting blunt truths without fear of reprisal. Many of the articles and reports he publishes on


this site revolve around major geopolitical and macroeconomic developments. Typical topics on golden jackass include gold and silver market analyses. Willie is known for predicting significant spikes in gold and silver prices. He argues that continuous monetary expansion by central banks will ultimately raise the value of precious metals while eroding confidence in fiat currencies. Critiques of the global dollar system. Willie believes the US dollar status as the dominant reserve currency will eventually weaken. He


often cites the efforts of countries like China and Russia in developing alternative payment systems and goldbacked arrangements. Warnings of financial crisis. Willie frequently points to risks that he says mainstream economists ignore, such as the overextension of credit, large-scale derivatives, and the excessive liquidity central banks have provided since past economic downturns. Geopolitical events and their economic effects. His analysis goes beyond pure economics to examine how geopolitics impacts commodity


prices, trade flows, and especially the dollar standing in international markets. Some content on Golden Jackass is available only to subscribers. This paid model supports his independent research, which he claims allows him to investigate topics not widely covered by mainstream financial analysts. Three, economic analysis philosophy and methods. Dr. Jim Willy's approach to economic commentary blends macroeconomic data with monetary and geopolitical factors, resulting in what many consider a heterodox style. Key aspects of his


method include historical cycle analysis. He frequently references major financial crises such as the 1929 Great Depression and the 1971 end of the gold standard to draw parallels with current policy missteps. He views economic cycles as influenced by political and social factors, not just by raw data. Debt and credit examination. Modern finance, according to Willie, is excessively reliant on debt. He emphasizes growing global debt levels and warns that they are unsustainable. Central bank balance sheets and leverage


banking practices are frequent targets of his critiques. Comparative currency analysis. Willie tracks how key currencies, the US dollar, the euro, the Chinese yuan, and the Russian ruble compete against each other. He underscores the role of gold reserves and potential gold backing as crucial in these contests. geopolitical context. Willie treats diplomacy, strategic alliances, and military advantages as integral to economic outcomes. He sees global finance and politics as intertwined, asserting that a policy


shift in one arena reverberates throughout the other. Reliance on alternative information sources. Willie occasionally cites unverified or non- mainstream information, claiming that official data and media may conceal the full story. Critics argue that this tendency can lead to the spread of unsubstantiated conspiracy theories. Four, main core perspective, transformation of the monetary system. One of Dr. Willy's central thesis is that the global monetary system is undergoing a profound realignment. He


believes that the post Bretonwoods world order in which the US dollar has enjoyed near hegemonic status is coming to an end or is on the brink of doing so as central banks keep expanding their monetary bases. He expects rising inflation to push individuals and institutions toward tangible assets like precious metals. At the heart of this view is the idea of the coming end of the dollar or the demise of the petro dollar system. According to Willie, the following trends are evidence of this shift. Countries increasing gold


reserves. Emerging markets including China, Russia, and Turkey have been accumulating gold potentially to establish alternative payment frameworks involving gold. Petroleum trade in currencies other than the dollar. Willie cites China's moves to pay for oil in yuan as a direct challenge to the dollar's monopoly in global energy markets. Alternative payment systems, new networks to replace or supplement Swift, such as China CIP, could undermine the dollar's role in global trade and lessen its power as a vehicle


of economic sanctions. Willie portrays these developments as gradual with many going under reportported. The eventual result, in his view, would be a breakdown of the dollarcentric system that would profoundly disrupt financial institutions and national economies while boosting the position of gold, silver, and other real assets. Five, the role of precious metals, gold, and silver forecasts. Dr. Willie is particularly noted for his commentary on gold and silver. He argues that these metals have served as money throughout


history and assume the role of safe havens in times of crisis. While central banks can expand the money supply almost limitlessly, physical supplies of gold and silver remain finite, favoring these metals in the long run. He often alleges that gold and silver prices are manipulated or suppressed. According to this viewpoint, major banks use large volumes of paper gold futures contracts derivatives to depress spot prices as letting gold prices rise organically would highlight fiat currency's


weaknesses. Willie also applies this argument to silver, contending that silver is likewise undervalued but manipulated. Nevertheless, Willie believes that such price manipulation cannot persist indefinitely. A surge in physical demand, he argues, will sooner or later expose discrepancies in the paper market, leading to a dramatic revaluation of both gold and silver. In such a scenario, gold could rise well into the thousands of dollars per ounce, while silver might break into tripledigit territory, an outcome that


could shake the entire global financial system. Six, the US economy and Federal Reserve criticisms. Given that Dr. Dr. Jim Willie is primarily based in the United States. He frequently critiques the Federal Reserve Fed. He contends that the Fed's policies of quantitative easing and prolonged low interest rates have masked deeper problems while magnifying systemic risks. In his view, these policies only offer temporary fixes without addressing underlying debt and leverage issues. His key points of


contention include unback money creation. Willie argues that the Fed's expansionary practices are disconnected from real economic productivity. Over time, such policies lead to higher inflation, even if official statistics do not fully capture it. Banking system vulnerabilities. According to Willie, large US banks are more fragile than they appear due to their exposure to highly leveraged derivative products. Wealth disparity. He contends that Federal Reserve policies inflate asset markets. stocks, real estate, mainly


benefiting the wealthy, while rising costs of living erode the purchasing power of lower and middle inome groups. External debt and trade imbalances. Willie points to America's escalating national debt and trade deficits, predicting they will reduce trust in US Treasury bonds over time and threaten the dollar's reserve status. Willy's criticisms draw from independent research and alternative media sources, which he sees as less prone to presenting sanitized official narratives. While his supporters view


him as exposing under reportported truths, critics accuse him of selective data usage or undue alarmism. Seven, geopolitical analyses, East West economic rivalry. Dr. Jim Willie incorporates a geopolitical lens into much of his economic commentary. He posits that the world's financial and political power is shifting from Western nations, particularly the United States and the European Union, toward eastern powers like China and Russia. This shift, in Willy's view, involves energy resources, major trade corridors, and


the struggle for technological advantage. Key points he often raises include the belt and road initiative. Willie believes China's massive infrastructure project will reshape global trade routes, reduce reliance on the dollar, and accelerate Eurasian economic growth. Goldbacked currency deals. He speculates about the possibility of China and Russia jointly introducing a goldbacked digital currency or forming a trade block that circumvents the dollar. Energy wars. Willie states that which currencies are


used to settle oil and natural gas contracts is vital. if Russia shifts to selling energy in rubles or yuan or in exchange for gold. He sees this as a direct threat to the petro dollar system, diplomatic and military tensions. He asserts that international tensions and conflicts can hasten financial decoupling leading to regional economic blocks and alternative payment networks that erode the dollar's reach. Willie often cites Russian, Chinese, or other non-western media sources to bolster his arguments, which tend to


frame developments as part of a broader east-west struggle. While mainstream sources may find these views too stark or speculative, Willie supporters regard them as a clearer portrayal of how global power balances are evolving. Eight supporters and critics in the realm of economics and finance. Dr. Jim Willie is considered an alternative analyst rather than part of the mainstream. This status has earned him a committed following while also drawing criticism from established economists. Supporters belief in expose of hidden


realities. They see Willy's commentary as a revelation of financial manipulations overlooked by mainstream channels. Precious metals enthusiasts, investors bullish on gold and silver tend to resonate with Willy's stance on the eventual surge in precious metal values. Those interested in conspiracy theories. Willy's emphasis on secret deals and under the radar developments appeals to people who suspect official narratives are incomplete. Critics accusations of excessive speculation. Critics argue that many of Willy's


forecasts have either failed to materialize or lack solid backing. Disconnected from market realities. Some economists see Willy's views as too extreme, diverging significantly from conventional market indicators. Promotion of conspiracy theories. Central to their critique is that Willie relies heavily on data or rumors that mainstream economics deem unverified. Dr. Jim Willie often counters these critiques by stating that time will prove him right. His followers tend to regard short-term inaccuracies as less


important than the larger long-term trends he highlights. Nine major themes in publications and interviews. Dr. Jim Willie appears regularly on podcasts, in online interviews, and through articles in which he reasserts or refineses his views about global finance. Recurring themes include monetary policies and the prospect of inevitable collapse. Willie often labels the ongoing wave of central bank easing as unsustainable and believes it will lead to an unprecedented debt bubble, global trade and the dollar standing. He focuses on


the likelihood of the dollar losing its primacy in oil transactions. In his view, geopolitical powerhouses like China and Russia are accelerating this shift. Manipulation in metal markets. According to Willie, the only reason gold and silver are not trading at much higher levels is price suppression, which he believes will eventually fail. Investment suggestions. While stopping short of giving direct investment advice, Willie regularly emphasizes the value of holding physical gold and silver. He sometimes comments on real


estate, cryptocurrencies, or other commodities, but his primary stance remains consistent. Tangible assets are a hedge against potential financial turmoil. 10. Dr. Jim Willy's forecasts and their accuracy. Like many financial commentators, Dr. Jim Willie has made various predictions over the years. While some have aligned partially with real outcomes, others have not materialized according to his expected timelines. Critics highlight inaccurate or postponed forecasts, especially concerning the swift collapse of the


dollar or hyperinflation that did not occur as predicted. Willie and his followers attribute such delays to factors like ongoing market manipulation or new geopolitical agreements that slow down the anticipated shifts. They also stress that his analyses revolve more around long-term structural issues than short-term market timing and that certain economic events might simply be unfolding later than initially expected. At the same time, supporters note that Willie accurately pointed out the continued expansion of central bank


balance sheets and the trend of countries accumulating gold reserves. Whether these represent unique insights or broader trends also recognized by mainstream analysts is open to debate. 11. Conspiracy theories and critiques of mainstream economics. Dr. Jim Willie sometimes embraces viewpoints described as conspiracy theories, such as allegations of covert arrangements among global banking elites or claims that certain financial institutions deliberately engineer crisis. These comments often lack direct support in


official reports or academic literature, undermining their acceptance by mainstream experts. Nevertheless, Willy's core audience contends that the very absence of this information in major news outlets is evidence of systematic cover-ups. This tension results in a polarized reception. While some commend him for tackling subjects that major economists avoid, others dismiss his arguments as relying on rumor or anecdotal evidence. 12. Building an audience and media strategy. Dr. Jim Willy's influence stems in large


part from digital media. Rather than appearing frequently on television networks or in major newspapers, he has cultivated a following through. His website Golden Jackass. The subscription-based model allows him to finance his research and post in-depth analyses without relying on traditional editorial norms. Podcasts and interviews. Alternative finance channels invite him to discuss his views, giving him a platform free from mainstream editorial constraints. Social media. Willie uses social media platforms to


share shorter commentaries and link to his more extensive articles or interviews. This approach targets a niche yet dedicated audience, particularly those skeptical of mainstream financial narratives. Willy's unconventional or controversial theories find an environment of fewer restrictions online, aligning with audiences seeking alternative takes on global economics. 13. Dr. Jim Willy's place in the financial world in mainstream banking circles or academia. Dr. Jim Willie is not widely cited.


Instead, he operates as an independent commentator, an outsider who both intrigues and polarizes observers. Critics consider his warnings overly dire and his reliance on unofficial data problematic, but the financial turmoil of previous crises has also made many investors more open to unconventional perspectives. Those who value his work stress how events like the 2008 financial crisis validated skepticism toward institutional analyses. Willy's arguments about the unsustainability of constant monetary easing and the


precarious nature of the global debt burden echo broader concerns, though he often frames them more bluntly. Overall, Dr. Jim Willie sits at the intersection of alternative finance commentary and mainstream critique. While he has a loyal core following, he is also subject to ongoing scrutiny by economists and analysts who question his methods and conclusions. 14. Conclusion and assessment. Dr. Jim Willie stands out in alternative finance circles through his strong critiques of central banks, fervent support for gold and silver, and


emphasis on significant geopolitical realignments. His central premise is that the current global financial order, especially the dollar-based system, is unsustainable. According to Willie, everinccreasing debt and persistent market manipulation will eventually trigger a major monetary crisis. one in which holders of real assets, particularly precious metals, will thrive. Yet, questions remain as to whether his most dramatic predictions will unfold precisely as he envisions and on what timeline. His track record


has been mixed, and skepticism about certain forecasts lingers. Supporters respond by emphasizing that Willy's perspective is best understood as a warning about underlying fragility. fragilityities that may require more time to materialize or that might manifest in ways not easily predicted. Regardless of these debates, Dr. Jim Willie has established a definite niche. His analyses, whether embraced or doubted, compel audiences to consider alternative possibilities and deeper layers of the global financial system.


For that reason, those who engage with Willy's writings often do so with a blend of caution and curiosity, recognizing that while his approach can veer into unconventional territory, it may also provide a valuable counterpoint to mainstream narratives. [Music] >> Don't forget to like our video and subscribe for our channel. [Music]