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Show Summary

  • Penalties for banking violations: Banks pay billions in penalties, but no mechanism exists to give the money back to the people affected by their actions.
  • Central bank digital currency (CBDC) platform: A CBDC platform is being developed in Hong Kong, which could be used to tokenize real estate and offer collateralized loans.
  • Digital currency and government control: Governments will want to maintain control over their currency, and Ripple may need to be on the forefront of building out CBDCs for them.
  • Zelle and banking app of trust: Zelle is a banking app that acts as an IOU between banks, but there are limitations on how much can be transferred. Settlement is still necessary, but XRP's settlement process is a game changer.
  • Tie between HashKey and CCP: There are ties between Hash Key's leadership and the Chinese Communist Party, raising questions about potential manipulation.
  • Young leaders in the crypto space: There are concerns about young leaders in the crypto space skyrocketing into billions without clear business acumen or potential manipulation.
  • Book recommendation: "The End of the World is Just the Beginning" by Peter Ziehan was recommended by Rob Mcdermott as a book that would be appreciated by the group.
  • China's Economic Manipulation: China's manipulation of currency and product prices during the COVID-19 pandemic has led to their economic rise, but there are concerns about their sustainability.
  • Global Destabilization: The world is experiencing rapid destabilization, with rising tensions in the Middle East and Asia, and talk of de-dollarization. This creates opportunities for manipulation and cheating.

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