'Emergency' Fed rate cut by June, only 6 U.S. banks will be left by 2025 paving way for CBDC - Dowd
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Watch Kitco NEWS Video: 'Emergency' Fed rate cut by June, only 6 U.S. banks will be left by 2025 paving way for CBDC - Dowd.
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
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