[Music]
welcome back to the world of cryptos and
welcome back to the crypto corner
last week we spoke about banks in a few
years time you will not recognize them
anymore
and i also mentioned to you not so long
ago
the chinese digital currency that will
replace the riemann bee
and that they already implemented it and
they are running
some trials in shenzhen now this week
there has been some development and i'd
like to talk about
that because it will have a direct
impact on your life and my life
so let's dive into this here
the international monetary fund the head
of that international organization
is a lady called cristalina jorgeva and
she delivered a speech
in regards to the new bretton woods
moment now what is the bretton woods
britain was
system is uh monetary management
established
the rules of commercial financial
relations between
countries like us canada western europe
australia and japan
and so its system was first
example of a fully negotiated order
intended to govern monetary relations
between independent states so that was
bretton woods
and she's speaking about the change of
that system into something
more modern now interesting enough
on monday there was a meeting with a few
central bankers talking about so-called
cross-border payments
but if you think about it look what type
of people they were
present so you've got the head of the
saudi central bank
you have got the head of all the central
banks
the head of the imf the head of the u.s
central bank and the head of the
malaysian central bank
missing is europe which is interesting
but there will be a reason i guess
so they met together to talk about gross
water payments
now i don't believe that that's a real
story the real story
uh was also published by a gentleman
called ron
paul which i totally concur with so
his thoughts is exactly how i'm thinking
and what he's talking about
is exactly this meeting that happened on
monday
that will replace the old bretton woods
uh relationship
between countries so what will happen
it looks like that the central banks
will
collude and come up with a system
a central bank system between all of
them so there will not be another us
dollar central bank system
there will be one for each for all
organizations
and then from there it will be um
diversified
and what can you do with such a system
that's the interesting part and
i love that yes so it will change
the circumvent the banking and finance
fiscal system because you're directly
interacting with people
yeah so it's not like at the moment
where the central bank in the u.s or
canada doesn't matter
comes up with some policy and then it
goes it trickles down
um the chain and you as the individual
user
you probably see the least amount of
money and
probably at the highest interest rate
that you can think of other people
will benefit much stronger with digital
money
plus cryptocurrency so programmable
money
you're able to do much more because now
the central bank can directly influence
uh the behavior of people and how do
they do that yes they can say well
if you're a restaurant owner you can you
get the money directly
into your pocket from us yeah so no more
banks involved we'll do it directly
it's possible it's central bank money
they can change interest rates so
in one instance or one industry they can
have high interest
rate than another um what will happen
with taxes
yeah what will happen with the irs
because they can deal with these things
directly through
programmable money it will take time to
get it to that
ultimate extent but it will happen as
you
as you can see so direct payments will
be possible
um they're also talking here about um
yeah behavioral economics so
not through some economists that are
telling
the government what to do and what not
to do because that has failed in the
past
everybody's saying so what they're going
to do is like a facebook
type of idea or tick tock idea or
youtube idea
where you're interested in people
befriending you
or where people are you're interested in
getting more likes
and so you change your behavior in
regards to
getting more likes and the same thing
will happen with the money
so and that will be all regulated
through central bank
uh without anybody from the outside
world having a chance to have a
significant influence
so how that will look like at the end
nobody knows of course
but that these people are meeting
together to discuss
cross-order payments is something that i
find highly interesting
and that is of course fantastic news for
bitcoin
because bitcoin is outside of that
system there's nobody
that can regulate uh bitcoin
it's decentralized it's immutable
well you know all the features of of
bitcoin
so um bitcoin is a fantastic alternative
all the other cryptocurrencies
the major ones are definitely a good
alternative let's see what libra will
bring up
but there's will be some good
alternatives to um
to the central uh centrally driven
money through central banks so i hope
you found that interesting and i hope
you liked it
and i hope i get a lack from you and i
wish you a fantastic week
so thank you very much for watching bye