Economic Challenges and XRP Smart Contracts Update

The Federal Reserve's delayed actions risk worsening the economic downturn, leaving many Americans struggling financially.

### Economic Uncertainty and Crypto Developments: The Current Landscape
* 📉 The video opens with a discussion on the **ongoing economic turmoil**, hinting at a **potential recession or depression**, which is **unprecedented in both U.S. and global history**.
* 💰 The Federal Reserve's actions, particularly the **excessive printing of money since 2008**, have led to **soaring inflation**, making it difficult for consumers to **afford basic necessities**.
* ⚖ As inflation rises, the Fed's response has included **rapidly increasing interest rates**, which has caused instability in various industries and led to **significant job losses**.
* 🔍 Analysts express concerns over the Fed's delayed actions, with predictions that they may need to implement **substantial interest rate cuts** to stabilize the economy, potentially as much as **50 basis points at a time**.
* 💔 The economic struggles are underscored by real-life stories of individuals living **paycheck to paycheck**, with many unable to afford **basic living expenses**, highlighting the disconnect between the wealthy and the average citizen.
* 💡 In the crypto space, Ripple has announced plans to **introduce smart contract capabilities** on its blockchain, aligning itself with other platforms like Ethereum to **enhance its functionality**.
* 🌍 A partnership between the ETH Kippu Foundation and the Ministry of Education in Buenos Aires aims to **integrate Ethereum into the high school curriculum**, providing students with **blockchain-related internships and training**, though the impact is **limited to a small group**.
* 🔮 As the economic situation evolves, the implications for both traditional markets and the crypto landscape remain **uncertain**, with **significant developments expected by the end of September**.

Hello everybody, welcome back for another video. Hope you're all doing well and that you're all having an absolutely fantastic day. Don't forget to follow me on TikTok, uh, links in the description below. And without any further ado, let's jump right into it. We've swung on back again, that's where we currently are. Yeah, so for those of you who don't know, we are currently in the midst of potentially one of the largest ever recession, potentially depression moments in US history, world history, global history. Um, it sounds like a joke, it's not. The Fed, the Federal Reserve of the United States of America, a number of years ago, and I mean since 2008, 2009, uh, made a gargantuan mistake in 2020. Uh, they printed like more than half of all US dollars in like a year, and they caused inflation to go up really high. And then they had lower interest rates to kind of basically encourage people to go out and spend more and to

get more in debt because the entire system runs on debt. It runs on people being consumers. The issue is that while inflation went up, people couldn't afford as much as they had before. With inflation going up in the United States, it started going up in other places as well. And that's when we began to hear that other countries had 7%, 12%, 14%, 18%. And it was one country that had that showed us from their CPI data that it was over 50%. And the Fed was like, No more. So they began to raise interest rates quite rapidly, quicker than they had ever done ever, in an effort to basically slow down inflation. But the problem is that with the slowing down and the raising of the interest rates, they basically caused an already fragile industry to completely basically lose its mind and begin to crumble into itself. A lot of companies basically being faced with the prospect of not only inflation going up and people spending more money on their groceries and child care and their car and where

They live weren't as likely to spend money in a store to buy frivolous things. This caused the number of companies to go, Well, now we got to start laying off people. And the problem is that they begin to lay off so many people that now tons of people don't have jobs and can't find jobs. See how this all stems from one problem. The problem is from the FED printing tons and tons of money without any discretion, just simply doing it, thinking not even fractionally at any point into the future. We've now come to between a rock, a hard place, and another rock. We can't move. The FED has to lower interest rates. The problem is that if they lower them too quickly, it'll signal that something's wrong with the entire world's economy and they're trying to fix it. If they lower interest rates too slowly, so they're only too quick or too slow. If they do it too slow, it might not be enough because they should have already done this before. See how the extra Rock was in there but rock hard.

place extra Rock if they lower it. The people are assuming, I think it's within the next couple of days that they're either going to lower interest rates by half of a point, which is needed. However, half of a point indicates that they should have done this before, not only in July, but maybe sometime at the beginning of this year to basically, you know, relieve some kind of pressure from the market. However, doing 0.5 basically indicates we were too late, we should have done this earlier. The Market's really in trouble, and we're trying to find a way to flood the market back with tons of new money, hoping that people will be more likely to take on credit card debt and/or Mortgage Debt with lower interest rates. R and/or if they only lower it by 0.25, this will basically signal that it's time to do something, but it's also not enough because they were supposed to have already done this earlier this year and potentially also last year as well. So, that's the catch-22.

Delayed Action from the US Fed could force larger rate cuts. A recent note from Jim Reed, a strategist at Deutsche Bank, has raised concerns about the potential economic consequences if the US Fed delays cutting interest rates in response to an economic slowdown. Oh, I forgot that one as well. There are now also rumors that the Fed might not cut interest rates at all. Isn't that one fun? Yeah, so a lot of analysts are saying that they think there's like a 25, 22 to 25% chance that the Fed might actually wait a little bit longer just to see if things really are that bad. That sounds really smart, right? With all the stuff that we've been seeing and people being shocked at job loss numbers, like what planet are we living on? It drives me insane when you see, first of all, the people giving the news on these platforms and also these rich and wealthy people completely disconnected. I know that you got an $85 million bonus last year for doing absolutely nothing, but the fact that

you're confused why your J why why why your why your company isn't doing well and why your your your employees are disgruntled is it's crazy. I'm I'm not I'm not really getting it. In his note dated the 9th of September, Reed emphasized that a decline in the US non-firm Farm payroll report often signals an impending economic downturn with little advance warning. He cautioned that if the FED does not act quickly enough, it may be forced to implement larger rate cuts later to regain control of the situation. They need to basically do some. I am I'm so interested to see what happens, isn't it the the the 17th or 18th? What is it, the 17th 18th of September? I think those are supposed to be the 16 17. I don't remember when they're supposed to basically announce that they're going to or not going to do something. If they don't do anything, I don't I don't think I want to.

see what kind of fireworks are going to like pop off after that happens, and even if they just do 0.25. There are a lot of people who think that like the market has already kind of priced it in, and it's not enough to really get things moving. Also, don't forget when they lower interest rates, and it incurs or basically allows people to take out extra forms of debt and, you know, money and Y yada, inflation also goes back up as well. So, that's also going to be something that we're also going to have to deal with as well, regardless of what they do. Reed's warnings aligned with insights from Adam Button, a currency analyst at Forex Live, who echoed the concern that a delayed response from the FED could make it more difficult to prevent a deeper downturn. Reed specifically suggested that if the FED is slow to react, it could eventually be forced to cut interest rates by as much as 50 basis points at a time to stabilize the economy. People think that

when they actually if they if they actually do cut interest rates that we're still going to slide down like worldwide as a market because basically we are in a recession that's not getting any better already and them lowering interest rates is an indication that they're trying to save it but it won't be enough to actually save any kind of momentum. The US federal reserves decision on interest rates have a profound impact on the economy particularly during times of economic uncertainty. According to Jim Reed any delay in responding to worsening job market data such as declining non reports whatever could exacerbate an economic downturn yay so that's where we currently are. I know a lot of people especially in crypto uh like to imagine believe pretend that like economic situations around the world have nothing to do with us. I'm still seeing and I've been seeing it for weeks since remember the beginning of August when like the stock market collapsed and then crypto began to fall down and people were like what's going on what's Happening and I was like oh

Yeah, you know the world's, you know, Mel, and everyone was like, Well, that doesn't make any sense. Those markets have nothing to do with us. No, they actually, how do I say this point also quite nicely, I'm noticing that a lot of people on Twitter in a particular country don't seem to understand that economically, socially, politically, economically again, the world is not doing well. And a lot of people on Twitter seem to, for some reason, in a delusional state, believe that crypto is like the number one topic that should be discussed right now. And it's actually inflation and economic downturns and recession and job losses and people not being able to pay their rent or for a basic standard of living. Crypto is important, but it is not the number one topic right now. For some reason, when anything happens in crypto, isn't the main discussion at any panel, dare I say political panel. I sit there scratching my head with every finger because you know that other things exist.

on the in the world right you know that the people in crypto are less than 1% of all the people on the planet can can we all agree with that um there are far more important things happening right now than you trying to hear a politician say the name of your favorite cryptocurrency so its price can go up have you seen the amount of people who don't have homes who can't afford their homes and I mean like they're not even living paycheck to paycheck I watched the video they were talking to about 10 15 people these people don't live paycheck to paycheck they live credit card to credit card at the end of the month this woman she went over all her numbers she's making minimum wage I forgot what state she was in and she said my rent is this my insurance is this my soand so is this my blah blah blah is this She went over everything and she said do you realize I didn't mention something she's like I didn't mention food She was like I don't have enough at

the end of every paycheck to even, and this is also she said. The other thing you didn't hear was taxes. Her entire paycheck is gobbled up every single month by her, and she was not living extravagantly. She was actually living kind of like a sad sagul. She was like, At the end of the year, I never have enough money to even pay my taxes. I don't have enough every month to buy food. So she uses a credit card, and it's estimated that around 10 to 15% of Americans are doing the same. There are a lot of people who are pressed economically. They're not doing well, and it's only going to get worse for them. This delusion that crypto is the number one talking point that needs to be discussed. No, no. Did you see what happened when the Bank of Japan rose their interest rates by 0.25% and the world's markets collapsed? That's about 35 red flags all waving in the air at the exact same time. Everything is really bad right now, and

the people in charge can't get it in TR can't can't get it under control. We're in trouble. The everyday average person, the everyday average person, doesn't care about Bitcoin right now because they're trying to have a roof over their head. I don't know how we got into that situation where people keep assuming that real-world events don't affect them or aren't going to affect our market, but please get it together because it is incredibly cringy to see people posting this crap on Twitter and they get 47,000 likes and people agree with them, and I'm like, none of you are based in reality. We need to get all of this under control, and we can't. We're pressed up against the wall right now. No matter what the FED does, it is going to have dire consequences on the rest of the world's economy. We're already in, we're like waiting in the water of a recession. Things are bad, and they might only get worse. I don't, I don't get how so many

people in crypto refuse to acknowledge any type of reality around them. You'll see. I promise you I'm not making this up. The next couple of days are going to be quite significant for the markets. Let's see what happens, 'cause at this point I don't even know. We're kind of all over the place. That's the FED news. And yeah, let's move on. Also, in for some reason controversial news, I don't know why. I'm going to say the term again. I don't know what's wrong with people. I don't get it. I don't understand you making problems of things that aren't problems, especially when there's not a problem to be had. Ripple has officially announced plans to introduce smart contract capabilities on the XRP blockchain. Yeah, this was something discussed back in 2017-2018. A lot of other projects have had smart contracts for a while, and now Ripple's joining The Fray. What tends to happen is, or what

happened was that every time any blockchain, namely Ethereum, made up something or came up with something, other chains would basically follow suit. And that goes from ICOs to STOs to smart contracts to NFTs to anything DeFi, what other letters you can throw out there, that's kind of been the general idea. So now XRP is also going to do it as well. Platforms that have smart contracts on them tend to do very well as like an automated feature to be able to do things or have the contracts kind of execute any type of thing that needs to be done automatically. That was the problem for those of you who weren't here a couple of weeks ago when the head of Coinbase was pretending that he had created smart contracts. He was talking about how amazing it is that if you use Coinbase, you can basically have like AI transactions, you know, AI does this and AI does that, and all it is is a smart contract. And they've been doing that for a while with a basic form of AI.

a number of years ago. So yeah, XRP will have smart contracts, and basically, it'll allow people, you know, to have more functionality on-chain. It's the same exact thing with a stable coin. More people will be able to use it and use the network, and you're getting the idea. The development would mark an important milestone in the efforts to enhance the network's programmability. Notably, despite being one of the oldest networks around, the XRP Ledger does not feature smart contracts. It says its closest rival. This is a lie. Stellar enabled the functionality in February. Stellar is no one's rival. Stellar is probably one of the worst projects that's actually out there, and I'm, and I, this is, this is, hear me out here. Stellar is to Tron, is to Iota, is to Solana. There are these projects that keep popping up every couple of years that people hype up so much and try and get other people to believe that they're the next big thing. People basically, for those of you who don't know or have forgotten about

Stellar lumens. Stellar lumens was hyped up to be what Solana currently is now, like on that hype level, going to be used by banks and institutions, and this is going to happen, and it's going to become the number one coin, and it's going to pass by XRP. The people from Stellar lumens have done everything in their power to try and get people to like this coin, and nothing has happened. For those of you who also forgot where I screamed out the term decentralization, and not one person cared, because people don't care about other people anymore. The people from Stellar lumens once had a conference, and they stood on stage, and they told everyone that they were burning like 40 or like, listen, listen, listen to my words, that they were burning like 40 or 50% of the entire supply of the coin, and the coin's price went down. Why did they burn that much? It's because they said, Oh, there's too many coins, and we think

that the project will do better if we don't have as many. And I was like, if the people from Ripple said that they were burning half of XRP, people would have, I mean, demonized this project for all of eternity. Stellar Lumens did it, jack diddly squat, no one cared. The coin has fallen into obscurity and only moves up in price when XRP does. They're not a rival to anyone, maybe like the closest toilet. This is probably one of the worst projects that's ever been released, and no one uses it. So, the issue is, for those of you who were wondering why there's a problem, is that it was announced that the smart contracts, similar to the stable coin, are basically going to be integrated into the Ethereum Virtual Machine. Ethereum has the bulk of transactions within the cryptocurrency space. It is the most used, the most popular blockchain. People absolutely adore it. And years ago, a number of chains, a number of projects began to, uh, announce that they were the thing that was going to take over.

ethereum. You might remember it 'cause it's been all of them. Every other coin at some point announced that they were going to become the number two coin and then subsequently also usurp Bitcoin. But now everyone has bent the digital knee and they're all basically integrating the EVM, the Ethereum Virtual Machine, to basically make their chains compatible with Ethereum. So that if any developers are using Ethereum or want to continue using Ethereum but also, you know, you want to dabble a bit, dabble a bit in some ripples, you are able to also do so as well. A lot of people for some reason, and I don't know how we got to XRP purism or maximalism, like Mega Maxim ISM, people were annoyed that so many new projects or products from Ripple and on XRP are dealing with Ethereum. They want these things to be XRP exclusive, just on the XRP chain and nowhere else. And that's the terrible part, like that's the

part that people were annoyed with this was incredibly popular news, not like slightly popular; it was everywhere popular news, everyone talking about it and what's going to happen and what it means for the project. People are saying that they're giving too much power, which also isn't a thing, to the Ethereum ecosystem and to the... You can't be delusional forever. You can't... You have to, at some point, acknowledge that Ether is the biggest, most used chain and that actually integrating it with XRP and the XRP blockchain and the same exact thing with stable coins is greater for the longevity of XRP. Remember the conversations we had before with Tether? For those of you who missed it, Tether announced that they're not creating their own blockchain, and people were in an uproar. They said that there are enough chains already; they don't need to make their own brand new chain. And when they're issuing Tether, it's on over a dozen blockchains. It helps Tether in

essence though they're a centralized company, be more decentralized and have more security. If something should happen to three of the chains, well guess what, you have a whole bunch of other ones that are still going and still producing tether. It's great that everything in this space that is decentral I is integrating with each other 'cause that's how you move ahead and move along further. Like imagine you want this to happen, but I mean also there are also a lot of people, and it's just within two parties. There's no other chains except for these two between Bitcoin and XRP. These are the only two communities that think that their coin is going to become the only coin on the planet. This doesn't happen from Ethereum. People in Ethereum understand that like there's going to be multiple chains. This doesn't happen with, and I'll say some of the leaders of Cardano are delusional, and they think that Cardano is going to be the only coin and the only chain in the future. No, no, no, but the community also

understands that other chains will be around every other project kind of gets you know multi-chain world. But Bitcoin maximalists believe that Bitcoin will be the only coin in the future. Ripple maximalists believe that XRP is going to like that there's some kind of conspiracy or something going on behind the scenes and that XRP is going to be the only coin used by banks and central banks and like institutions. You should be happy that like this coin is around at all, that like all the stuff that the company Ripple said that they were going to do, they did. I don't understand this like one coin rules them all kind of thing, but um yeah, so um XRP is going to have smart contracts. It's a good thing, it's a very good thing. It has more functionality, it will allow more developers and more people to use them, and in the future, there's probably going to be a couple of companies, a couple of real estate companies who are going to be like, you know what, we want to put our contracts

on there as well. People can sign digitally, and then you'll have 300, 400, 500,000, 75 million real estate contracts, and all these other things of ownership on The XRP Ledger because of them introducing smart contracts. As you know, anywh who um bit of a weird news day. All right, let's move on. Also in I don't get this one. I don't understand what this is for the ETH Kippu Foundation has established a partnership with the Ministry of Education of Buenos Aires to integrate Ethereum and blockchain technology into high school curriculum. The collaboration represents a notable advancement. Yana Yana, the partnership is set to impact the broader Latin American region. I don't I don't think so. As part of the initiative, students in Buenos Aires will commence professional internships related to blockchain projects, and they started in the end of August. This practical engagement is expected to provide students with valuable experience and insights into the blockchain industry. Additionally, the partnership will facilitate the development of an online

course focused on Solidity, the programming language used for Ethereum applications. The course aims to train 500 people. This will equip them with skills necessary to enter the Ethereum development community. This was also quite popular in the news as well. A lot of places were heavily misrepresenting this news. A lot of websites were writing, and I quote here, that Ethereum, like imagine Ethereum as like a walking, talking thing, had partnered with the Ministry of Education of a country. And this ministry decided that because Ethereum was so important as a walking, moving around blockchain, that basically that they were going to integrate it into their systems. This is not the first time that this has happened. Not that this isn't significant, but it's more of a there have been schools and universities everywhere that offers some kind of a course on crypto. We've had those since like 2015, and I mean everywhere. Like this isn't like the first Latin American, like oh my gosh, a digital course online, what, like that? No, like they've had this before. There are tons of like

free cryptocurrency blockchain courses that people around the world have been learning from for a long time. People learn how to code online for free themselves, and then they also work on these projects, and they work on GitHub. But this was once again a popular article kind of declaring that basically the country had been like, No, no, no, this is too big. We got to get into it. And this is the first time that this is ever happening. And it's like, Okay, but this is also basically because a lot of people in crypto are brand new. And I understand that you missed about like 12 years of history, but if you're going to write articles or try and like educate people on stuff, like you should maybe learn about the stuff that came already before. Once again, not that it's not significant, but um, if this was like the entire country, golf clap um, but it's 500 people. It's not 15,000 people. It's not 50,000 people, or it's not every school.

either if they were doing this like in every single school. Imagine that like that's news. Imagine if every single school in the country began to teach a course on Ethereum and blockchain since like first grade. Yeah, yeah, yeah, yeah, yeah. A bit of a weird news day. I don't know what's going on. A lot of the news continues to get more interesting as the days go on. Um, I do hope you've all enjoyed. I do hope you all are having a great day. I do hope you all are having a great morning, afternoon, and or evening, wherever you are, wherever you might be. Um, by the end of September, the end of September, we should have a pretty good idea as to where the, um, where the world is going and if we have, um, you know, anything interesting to look forward to. Thank you all once again for watching, listening, liking, commenting, and supporting, and I will most certainly be talking to you all soon. See you.

We NEED THIS NOW Or The Market WILL CRASH, Things Are About To Change And Markets Are NOT READY

The Modern Investor

The Impact of the Federal Reserve's Actions on the Economy

The Federal Reserve's decision to print a large amount of money since 2020 has led to significant inflation and a global economic crisis.

In response to rising inflation, the Fed has rapidly raised interest rates, causing companies to lay off workers and leading to widespread job loss.

The Fed now faces a dilemma in lowering interest rates, with the timing and amount of the decrease crucial for stabilizing the economy.

Jim Reed from Deutsche Bank warns that the US Fed's delay in cutting interest rates could lead to larger cuts later.

Analysts suggest a 22-25% chance of the Fed waiting longer to act, raising concerns about the potential economic impact.

Reed's warnings are echoed by Adam Button, who believes a delayed response could lead to a deeper economic downturn.

The Impact of Interest Rate Cuts and Economic Downturns

Interest rate cuts may not be enough to reverse the ongoing global recession.

The US federal reserve's decisions during economic uncertainty have a significant impact, and delays in responding to job market data can worsen the downturn.

The focus on crypto as the main topic of discussion is misplaced, as there are more pressing issues like inflation, job losses, and housing affordability affecting a larger portion of the population.

Economic Struggles and Market Instability

Many Americans are facing economic hardship, with 10 to 15% relying on credit cards to make ends meet.

The recent rise in interest rates by the Bank of Japan has triggered a collapse in global markets, raising concerns about the overall economic situation.

Despite the urgency of real-world events, there is a disconnect in the crypto community's response, with some refusing to acknowledge the impact of the current crisis.

XRP is following the trend set by other blockchains, like Ethereum, by introducing smart contracts to enhance its network's functionality.

The development of smart contracts on the XRP Ledger marks a significant milestone, as it has been one of the oldest networks without this feature.

The speaker criticizes Stellar's role in the blockchain space, arguing that it has failed to deliver on its hype and is not a true rival to XRP.

The Struggles of Stellar Lumens and XRP's Integration with Ethereum

Stellar Lumens has struggled to gain traction and is often overshadowed by XRP, with both coins moving in tandem.

The integration of smart contracts and the Ethereum Virtual Machine has become a common strategy for many projects, aiming to align with Ethereum's dominance in the cryptocurrency space.

There is a divide among XRP supporters regarding the integration with Ethereum, with some wanting XRP to remain exclusive, while others believe it is essential for the project's longevity.

Decentralization and the Future of Cryptocurrencies

A centralized company can still offer decentralization and security by having multiple chains, ensuring continuity in production.

Bitcoin and XRP communities are uniquely focused on their coins becoming the sole currency, while Ethereum and other projects embrace a multi-chain future.

XRP's introduction of smart contracts is expected to increase its functionality and attract more users, while a partnership in Buenos Aires aims to integrate blockchain technology into the high school curriculum, providing students with practical experience in the industry.

A course focused on Solidity, aiming to train 500 people for the Ethereum development community, has gained media attention.

The news has been misrepresented, with claims of a partnership between Ethereum and a country's Ministry of Education.

While the course is significant, similar crypto-related courses have been offered globally since 2015, and the impact of training 500 people is relatively small compared to a larger-scale integration.