00:00The debt has to be addressed. We have a currency crisis and a liquidity crisis that has to be
00:06addressed. Is there a better asset to solve these problems than XRP? In my opinion, no.
00:11What do you think, Jake? Well, you need something that's a low value that could be a much higher
00:15value to be able to offset the debt, right? You need something that's going to expand with use
00:20or a revaluation like we saw in 1933 of gold. They need a mechanism by which they can move
00:26something onto the balance sheet and then it appreciates substantially to be able to offset
00:30the debt. But yeah, I think that XRP is likely the mechanism by which they're going to hold a
00:36portion of that on the US's balance sheet. And as they use that to settle the back end of financial
00:42markets and it pushes up to maybe $1,000 a piece, you could see a large portion of the debt offset
00:49by the asset and the appreciation. The reason why these governments are failing to roll out gold
00:54back currencies is because you can't redeem them for gold. Zimbabwe says, Hey, we got a new currency.
00:59It's backed by gold. Everybody says, cool story, bro. We don't trust you. If we can't redeem it for
01:05gold, if you're not going to provide an audit, we don't trust you. So the redeemable in gold bond
01:10that's being proposed next year and potentially putting that on, you know, tokenizing it on a ledger,
01:15what better ledger than the XRP ledger, right? You've already got R-O-USD. You already have T-bills
01:21being tokenized on the XRP ledger. To me, it's just a match made in heaven to have a Ripple
01:26treasury partnership where they roll out something like that or other similar products on the XRP
01:32ledger. Yeah, I agree with you. I think that people want to be able to trust somebody and you haven't
01:38been able to do that since for a long time. 1971 is when we closed the gold window here in the US and
01:44we were probably untrustworthy even before then, not paying people out in kind. I mean, we have the gold.
01:49I don't think it's the gold that everybody thinks we have. I don't think Fort Knox is going to yield
01:53much, but we do have enough gold to be able to back things if we needed to. Oil is another one.
02:01You know, I think there'll be other countries that utilize that as the backing.
02:05And you're already seeing R-O-USD is really, as you mentioned, setting the standard for real-world
02:11asset tokenization on the XRP ledger. Yes, it's just a stable coin, but this is the blueprint for
02:16other countries to do their stable coin or CBDC on the XRP ledger. We've already seen that,
02:22that Ripple partner out of Brazil, who's the largest FX provider in that country, tokenizing
02:28the Brazilian real on the XRP ledger. And this is on the public mainnet, by the way. This is not
02:33private ledger. This is public open mainnet, the same XRP ledger that me and you are using.
02:37What you've been breaking down, something that I've been covering too, is just the role that XRP
02:41can play in solving this debt, currency, and liquidity crisis.
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