by birtanpublished on August 25, 2020

Today's question is do you like gold comment that down below because if you do you're automatically entered into a giveaway for a hundred xrp because yes guys if we hit 900 likes within 24 hours we're giving away 100 xrp

You can be part of that just by pressing the like button just by being subscribed put the notification bell on and by just commenting something down below so make sure you go ahead and do that

Having said that though guys i've been looking into gold for such a long while and i think a lot of you guys know it i've been looking at the price i've been looking at what it's going to be doing i'm looking at it

I like the the rate of adoption i look at the possibilities for another gold standard and things like that and i just saw something on twitter which made me think about it once more and i wanted to share it with you guys

Great gatsby or bamboo xrp just posted this on twitter all right so be prepared a little bit if the us dollar became backed by gold and then collateralized coins issued on the xp ledger as ds has

Discussed does that not make gold indirectly tied to xrp obviously price would rise due to the functionality collateralization not necessary gold

Being directly tied to xrp also you would need enough xrp at a value to be redeemable in collateralized coins and that's my understanding of the functionality of the collateralized

Coins issued on the network this is how i could see xp involved with gold and the us dollar now you might ask well why not just issue gold coin and send that well two reasons xrp is native to the xp

Ledger as the best performing asset the other being if you sent gold coin and someone wanted something else you still need to swap and the physical

Gold isn't exchanged it's the collateral that was exchanged you can't send gold coin because it's the collateral and you're not given a position of the actual gold you're simply leveraging it

To swap ownership of it so it's actually not a strange theory as you might think it's not actually not as far-fetched as you may believe as at this point and basically the reason for that is that

The first part here if the u.s dollar became backed by gold right so if uh dollar became bad by gold which anybody i think could understand and then collateralize coins issued on the xp ledger

So those collateralized coins again the gold backed us dollar they collateralize coins issued on xp ledger does that make gold indirectly tied to xp yes it kind of does because then it's kind of like a three a three

Way u.s dollar bad buy gold and xp works on top of all of that it's also on exhibit ledger theoretically so now the thing here is or one thing i kind of

See far-fetched is the fact that they were to collateralize coins or at least issue those collateral coins on the xp ledger i'm like why would you do that exactly

Because it's going to be a difficult situation to get that going on the only thing is if it's already there you know let's say some some party actually is like yeah i want that

From that point on forward it would actually work ridiculously well right i've been thinking about it for a little bit but the the reasons for using it are way better than the reason for not

Doing however again usd will be coming back but gold is another unknown and it's another one that a lot of people aren't against been looking into that a little bit about what people want

And basically whenever you check out the world reserve currency and the fact that they used to be golden standard a lot of people go like yeah but it didn't work out for some reason right which i can understand as well

I actually don't know if there's gold standard in this one yeah there is okay so here are key takeaways about how we got that world reserve currency the first u.s dollar as it is known

Today was printed in 1914 upon the creation of the federal reserve bank kind of crazy it's only 106 years ago that that was created feels like it's been there forever but it's only a little more than 100 years

During ww2 the u.s supplied the allies and got paid in gold propelling the u.s to the largest holder of gold so basically here there's nothing else that you could pay with right which is a very

Very big friction but let's say for example i want something done and i really don't need your currency because well everything might collapse let's say for example at the u.s dollar

Right you're in the u.s i'm in whatever other country i am in you're like well let me pay you in dollars i'm like freak your dollars dude what what what am i gonna do with that one

You know it might collapse right now because of all the the massive q and things like that he's like all right what can i pay you with i'm like well the only asset that's going to stay forever you

Know something something that can't be can be altered at least you guys know what i mean like you can't really do anything because of qe with it you can't really do anything crazy with it give me some gold and

Especially when all countries are in this like uncertain situation with their currency where nobody knows their currency is going to survive currencies are being kind of formed and

Changed all the time gold is one of the only things that really stands its ground sort of after the war after the us had most of the gold countries linked their currencies to the dollar

Because that was the most prominent uh i guess currency at that point because that currency was linked to gold so basically a lot of these currencies could not be linked to gold directly

Because it didn't have large holdings of it so basically you're just then betting on another asset which you don't even have which you don't really you know know too much about in that sense so basically

What you're doing that is the same system as the us dollar is right now where it's just based upon trust in the government right if you don't back it up by gold and you don't even even have gold

Theoretically speaking then yeah you can't really back it up and so it's just another piece of faith which is just the same as the system as it is now so all right everybody was using the us

Though or at least all the countries were to just kind of tie whatever they had to that price of the us dollar because that was what was kind of real it was it was linked to you to do

To gold and so that was the only one that's real and they would not change too much because thinking about it once more all those currencies they don't really know how to value it it's just a trust

In the government but if you lose the war your government is kind of lost and gone so the only thing you can trust which is a fun kind of quote is trust in gold right

Because that's the only thing you can trust in because the rest can kind of fade away except for gold after war they try to do that uh link the currency to the dollar which was linked

To gold again to get into the loop the little three-way like i just explained with xrp like they would kind of get into the us dollar became backed by gold which is the situation that was in here

Already and then collateralized coins issued on the xp ledger it's kind of the third element of the whole party right to make it clatterized on xrp ledger uh moving further though ah oh the gold

Standard ended but the dollar's reserve status remained that's a little bit later and today more than 61 of our foreign bank reserves are nominated in u.s dollars and nearly 40

Of the world's debt is in dollars which again could have been in terms of gold once more but it's not anymore and the main reason for that is just i believe the fact that they would prefer to have things tied to their

Government because it gives more power more control right qe is a lot more difficult a lot stranger if you're backed up by gold than just backed up by faith in

Government and just a trusting system because right now there are no real consequences for it whatsoever if everything is tied to gold all currencies are tied to each other and you're doing that it becomes a very

Very different situation because not thinking about it the u.s doing this massive qe has bigger way bigger consequences than any other currency doing it because it's the world reserve currency

So it were to become really really cheap and by the way here you can see once more which currencies were when and what kind of events during transition process happened the fun thing i'm thinking about here is

That the usa will have cv you know you guys know the situation that's going on right now as kind of the events during the transition process of of the us switching over because the u.s started in 1920 if i'm

Not mistaken in 1920 yeah here you can see 1920. first of all is portugal then portuguese succession crisis iberian union kind of faded it out then it was the spain

In which came dutch occupation catalan revolt follow the iberian union 30 years war thank you in the netherlands hey hey turn up for uh you know about 80 years dutch east india company declined

Anglo-dutch wars then came france french revolution came the public wars napoleonic wars then britain great depression ww2 came in and then the us most likely

Going to be like that the cv crisis pandemic that could change at all because it's been 100 years right and if you look at these numbers if you add them up for yourself for a split second

Can do it here while we're recording actually 80 plus 110 plus 80 plus 95 plus 105 is divided by one two three four five bam we get to 94 years

Right now the usa has already had the world reserve currency for a hundred years exactly and thus they're above average uh they're even let's see 80 80 and 95 yeah they're even above median as well

So i'm gonna say right now it's not even that crazy if they were to you know just just get rid of it now because of such a huge period so again keep that in the back of your head and then the thing you

Could be talking about or thinking about is could then switch back to a to a standard that is you know upon gold and things like that well the fact that gold is doing so successful right now that it's so high and doing so

Great it's so prospering kind of makes the chances smaller because the more better gold is doing the more big parties are buying it the more control you're giving them theoretically speaking if everything

Is backed by gold the more power you've given them which is not really what the u.s wants it's not really what they are looking for or going for and does it really happening is getting smaller

Smaller smaller i'm also thinking about them not doing anything with gold at all because of also like the space program that might get gold out of asteroids and things like that

And maybe just all build their cbdc which is still their own currency but still build this cbdc and then connect everything with xrp you know every country that owns cbdc literally every country except for maybe

The european union which of course is together and then link all of those up through xrp as the butter between the bread only problem i see is that you're not really changing anything with the system

You're just making everything online but still with all this gold it's it's it's also a difficult situation right because how are you going to make sure that nothing is being flooded upon since you got space mining now

Right at least the idea of space mining and once that comes in gold is not as valuable anymore which would kind of mess up your whole system and maybe they're also anticipated for that maybe they know about that as well

Which would not be strange if i know about it they most likely know about it too and as i said before they would also lose a lot of power in themselves because now you're trusting in gold not

In the government anymore so yeah guys that was it about my idea here uh basically to summarize it i don't think a gold standard is coming back if it were to happen it would not even be that crazy if xrp would be involved

It's really a solid theory it's a solid i guess thought to have i'm also thinking about a lot of cbdc's central bank digital currencies with xrp as the butter between the bread that sounds like the most probable

Scenario in my head xrp will soar eventually anyway i mean it lost its third position for a little bit it might lose it again could definitely happen however eventually we'll get back to the second position in a very soon

You know soon proximity here or whatever then a couple other things i saw first of all here from mr gxrp07 he said boom yellow rose xrp phoenix inaugural crypto and xp phoenix then i guess having the same

Numbers i don't know which one exactly he's looking for uh is there inaugural crypto no new currency i guess is the same simple number and they all have the same numbers okay

Okay okay and the world's columbones they all have the same number which is gematria if you like it i just thought i might share it with you and the other one i had was who's ready for an ipo season

Because a lot of silicon valley are right now i guess getting ready for an ipo especially just airbnb which really shocked everybody they filed for ipo at least a little bit

Secretly but guys that was for this video hopefully you all enjoyed it if you did make sure you press the like button subscribe and i would definitely see you guys again in another crypto video

Take care and enjoy your weekend

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