'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."

"Banks will be closed and there will be a lot of uncertainty and confusion. Some businesses will be temporarily closed. Some of those that remain open may accept cash, other will only accept gold or silver coins. Credit cards will not be accepted as the system will go down."

"New financial system will be introduced. It will be backed up with Yamashita gold. That gold will be stored in locations that are not to be disclosed yet. Yamashita gold will not be traded in open markets. Basket of currencies such as US dollar, Euro, British pound, Swiss franc, Japanese yen and Chinese yuan will form the basis of this new system.

Those banks that did not have strong connections with Federal Reserve and did not go bankrupt will reopen. They will not be allowed to charge interest. All their accounting will be fully transparent to the public."
https://goldenageofgaia.com/2012/04/29/the-new-financial-system/