Only 6 U.S. banks will be left by 2025 paving way for a Central Bank Digital Currency. Edward Dowd

Only 6 U.S. banks will be left by 2025 paving way for a Central Bank Digital Currency. Edward Dowd

https://youtu.be/A2G3MAxdZfU

Kitco NEWS

561K subscribers

307,242 views Mar 24, 2023 #money #federalreserve #banking

Edward Dowd, Founder of Phinance Technologies and former BlackRock fund manager, and Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, discuss the Federal Reserve's latest rate hikes, and why Dowd thinks Fed Chair Powell will be "forced" to cut rates by June of 2023, leading to a "controlled implosion" of the banking sector. Dowd forecasts that as banks consolidate, only 6 major banks will be left standing by 2025, paving the way for Central Bank Digital Currencies (CBDCs), digital fiat tokens issued and controlled by central banks. This, Dowd claims, could lead to "total government control" and a potentially dystopian future . Dowd also sees the dollar losing its dominance on the world stage with a "kinetic war" breaking out as the BRICS countries launch their own reserve currency. 0:00 - Fed outlook 9:56 - Inflection point 12:00 - Banking crisis 16:02 - Six banks left standing 18:17 - Central bank digital currencies 23:14 - Resisting CBDCs 26:39 - Hidden agendas 28:12 - New monetary system 31:11 - U.S. Dollar dominance 33:30 - De-dollarization and war 37:10 - Investment implications 39:00 - Civil unrest 40:48 - New book and report #banking #federalreserve #money __________________________________________________________________ Kitco NEWS is a global news network based in Montreal, with bureaus in New York, Hong Kong, New Mexico, London and Vancouver. Since 2009, our journalists have helped investors make informed decisions through in-depth reporting, daily market updates, and interviews with key industry figures. We aim to accurately and impartially cover the economy, stock markets, commodities, cryptocurrencies, mining and metals. Subscribe to our channel to stay up to date on the latest insights moving the metals markets. For more breaking news, visit http://www.kitco.com/ Follow us on social media: Facebook - https://www.facebook.com/KitcoNews/?r... Twitter - https://twitter.com/kitconewsnow StockTwits - https://stocktwits.com/kitconews Live gold price and charts: http://www.kitco.com/gold-price-today... Live silver price and charts: http://www.kitco.com/silver-price-tod... Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscriptio... Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/ Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.