A New Institution Working with the IMF - Trillions Daily

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The president has nominated Michael Barr The Ripple board member and former treasury department to the federal reserves top regulator in charge of the big banks. IN the next clip Michael Barr is to to the left hand side at Fordham university conference talking with Secretary of State Blinken.

Blinken cut the ribbon a new department that deals digital policy. To ensure that the US has a seat at the table while shaping global policy on emerging technologies. After the President released the Crypto executive order, Blinken tweeted

If you haven’t seen my video about Palau, be sure to listen to it it’s pinned in the comments. Palau is a test bed for the United states to implement technologies. Ripple is putting USD directly on the XRPL for the Palau people. The Republic of Palau Is implementing digital identify service where your ID is minted as an NFT. The id will be linked to wallets and health records.

"This partnership with The Republic of Palau will revolutionize economic development both in Palau and around the world. Palau's unique angle of entry to the digital economy will enable them to leapfrog legacy government services to meet the needs of global citizens. The world is beginning to recognize the practicality, versatility, and truly transformative power of digital identity – this is a swift step towards that future." – Bril Wang, CEO Cryptic Labs.

I didn’t hear anything about banning crypto. Crypto will be absorbed into finance and utilized. Because the technology offers efficiencies that will benefit the global economy.

Fredirico was saying everyone is dependent on the dollar for international trade and is it time to use a new currency for trade that will also help the US due to currency manipulation. As geopolitical tensions intensify the dollar can be manipulated and devalued through currency and trade wars. Crypto assets are public ledgers without the need to trust one country. They are Trustless and ideal use case as a golden ledger that everyone can trust. This is the ideal role for crypto or PUBLIC CHAINS THEY ARE TRUSTLESS SYSTEMS WITHOUT ANYONE CONTROLLING THEM. Countries around the world do not want money to be trusted by anyone else this is why gold was the reserve asset for so long because no one country could manipulate.

Over 100 countries are hoping on to the crypto bandwagon while the global economy is becoming more divided and the one thing that is needed for prosperity is unity in global trade. There needs to be a new Bretton woods to iron the details and that is what they are foreshadowing. International cooperation is built on trust. Trustless systems do not require trust but they deliver it.

Fredrico says there needs to be a new Bretton woods with either the IMF or the IMF and a new institution to the manage the next reserve currency.

We have seen yellen pull a 180 on crypto, The executive order was the president pushing regulators to figure crypto out, and now blinken is telling you they just opened a division to deal with emerging technologies and the importance of the US setting those standards. He also mentions how the 2% of gdp needs to be invested into research and development. I predict that there will be investment in blockchain in the near future to help us catch up with the competition.

With a ODL enabled platform O’Leary will get his wish. And Billionaire and banks a like will all be able to move money globally for a fraction of the cost today. This is a daily multi trillion dollar market and XRP is positioned and custom tailored for this market unlike the rest of crypto except maybe stellar. BTW I discovered this Novati PDF that lists stellar as well as ripple as a partner.